On losing every penny on Bitcoin bet, a college dropout started a tea stall named ‘The Frustrated drop out’. The twist is, the stall accepts Bitcoin too as payment and has now become a ‘hangout joint’ for crypto enthusiasts.
Shubham Saini, Indira Gandhi University alumnus, came to Bangalore looking for a job and in no time, he became acquainted with cryptocurrency and started gaining interest in the crypto market trading.
In 2020, after the market plunged by 60%, like many other Saini had invested all of his pocket money to buy crypto coins. “In the matter of few months, I witnessed a 1000% jump.” From ₹1.5 lakh, his crypto wallet increased to ₹30 lakh.
Looking at this potential, he stopped asking parents for money, even paid my college fees, and lived a lavish life. He dropped out of the final semester and plunged into crypto trading.
However, next year, as the market crashed, Siani’s crypto portfolio tanked by 90%. “I was back exactly where I started, from ₹30 lakh to ₹1 lakh. I couldn’t believe that one night could change so much in my life,” he told Indian Express adding, “Now it was a matter of self-respect… As I looked for means online to make a fast buck, nothing made sense.”
This incident pushed the 22-year-old to do something else. He opened modest tea stall- ‘The Frustrated drop out’- an initiative to minimises the use of plastic and nonrecyclable items. Then came the idea of P2P payments platform.
He was surprised and intrigued when customers first tried to pay for their chai with Bitcoin. The popularity of using crypto to buy something as simple as tea has helped his business to grow, as indicated by Saini. On average, at least 20 new customers a week use cryptocurrency to pay for their purchases, claims Saini. He tells indianexpress.com that he uses Paxful crypto platform to accept crypto payments.
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