The Global Positioning System enables mobile device users to achieve rapid positioning. However, its indoor positioning performance is still unsatisfactory. In recent years, numerous scholars have investigated Wi-Fi indoor positioning technologies. However, the distance error of such techniques can be higher than 5m. Some scholars have proposed new approaches of beacon-based indoor positioning to provide easier installation and decrease the distance error to 2.5m. For both better positioning performance and being economical, this paper proposes an approach of beacon-based positioning method, using cost-effective Estimate Proximity Beacons and Android smart phones for implementation. The result reveals that the mean distance errors of our method are 0.398m in stasis and 1.97m in motion.