A tea stall in Bengaluru is making headlines for accepting Bitcoin as payment from customers. On average, about 20 new customers a week use cryptocurrency to pay for their purchases, the tea stall owner claimed.
The Frustrated Drop Out
22-year-old Shubham Saini, owner of the tea stall named ‘The Frustrated Drop Out’, said that he started accepting Bitcoin as a mode of payment after some customers offered to make the payment in the cryptocurrency, reported Indian Express.
Saini was introduced to crypto market trading when he came to Bengaluru in search of employment. The youngster soon learned the tricks of the trade and was successful enough to turn his normal life into a “lavish” one. He first started trading cryptocurrencies while looking for a job in Bengaluru and then dropped out of his final semester of BCA to become a full-time crypto trader. After investing Rs 1.5 lakh in the virtual asset, a 1000 percent jump increased the value of Saini’s portfolio to Rs 30 lakh.
A world full of surprises
But, in a world full of surprises, a 90 percent crash in 2021, dragged the value of his wallet down to Rs 1 lakh. Back from where he started, Saini had to sell his iPhone to get by and finally opened a tea stall on a sidewalk in the city.
“I was back exactly where I started, from Rs 30 lakh to Rs 1 lakh. I couldn’t believe that one night could change so much in my life,” he said.
Nevertheless crypto came back to his life when some customers tried paying for tea via Bitcoin and accepting it has made his shop popular among crypto enthusiasts. Saini even updates INR to US dollar conversion rates on a placard.
“Any customer who wishes to make the payment has to simply scan the QR code just like UPI, convert INR to the dollar, and then make the payment in cryptos,” he added.
Saini claimed that adding Bitcoin to the mix has made his business grow. On average, about 20 new customers a week use cryptocurrency to pay for their purchases.