Desperate people drop out, drink tea and pay bills in cryptocurrency; Crypto Jhunjhunwala Starts a Tea Shop – Bangalore College Dropout and Rakesh Jhunjhunwala Wants to Be a Tea-Vendor Accepting Bitcoin, Dollar Payments ThePipaNews

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Bangalore: A young college dropout who lost all his money in Bitcoin trading opened a tea shop called ‘The Frustrated Dropout’. This tea shop is currently the talk of the town in Bangalore. However, these are more for the way the tea bill is than for the taste. Shop owners are also accepting Bitcoin as payment. Because of this, the tea shop has become very popular among cryptocurrency conscious people.

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A tea shop started by 22-year-old Shubham Saini has started accepting cryptocurrency as payment after customers themselves offered to pay for their tea with Bitcoin, a report said. Even Shubham himself, being a cryptocurrency enthusiast, was shocked by this customer offer. “Any customer, who wants to make a payment, has to scan the QR code, convert rupees to dollars just like UPI and then make the payment in crypto,” said Saini.

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Business has increased due to crypto payments
Shubham Saini, a tea shop owner, said the adoption of Bitcoin as a means of payment has boosted his business. Also, Saini claims that on average 20 new customers a week use cryptocurrency to pay for their tea.

Who is Shubham Saini?
Shubham Saini came to Bangalore from Rewari in Haryana in search of a job and this is where he learned about the crypto market. Saini, like many other investors, spent all his money buying cryptocurrencies when the market fell 60 percent in 2020. Saini said he invested Rs 1.5 lakh and within a few months his portfolio grew by 1000 percent. After that his crypto wallet increased to 30 lakh rupees. It was a big deal for him.

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Seeing this potential in him, he stopped asking his parents for money, even paying his own college fees and living a luxurious life. He skipped his last semester and entered the market of crypto trading. But the following year, Saini’s crypto portfolio lost 90 percent as the market crashed. This incident forced 22-year-old Sunny to do something different. He opened a tea shop – ‘The Frustrated Drop Out’ – where he started an initiative to reduce the use of plastic and disposables. Then came the concept of P2P payment platforms. He said he uses the Paxful crypto platform for crypto payments.

Financially independent Shubham Saini quit his BCA finals for full-time crypto trading. Shubham said, I thought the next ‘Rakesh Jhunjhunwala’ of the crypto world.

This information has been given in a report of indianexpress.com

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