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 through Bitcoin, according to a report. Even Shubham himself was taken aback by this customer offer as he himself is a cryptocurrency enthusiast. “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,” Saini said.
Business increased due to crypto payments
Shubham Saini, owner of a tea shop, said accepting Bitcoin as a form of payment has boosted his business. In addition, Saini claimed that an average of 20 new customers a week use cryptocurrency to pay for their tea.
Who is Shubham Saini?
Shubham Saini arrived in Bangalore from Rewari in Haryana in search of a job and this is where he got to know about the crypto market. Saini, like many other investors, spent all his money buying cryptocurrencies when the market fell by 60 percent in 2020. Saini said he had invested Rs 1.5 lakh and within a few months his portfolio grew by 1000 percent. Soon after that his crypto wallet grew to Rs 30 lakh. It was a big deal for him.
Seeing this potential in him, he stopped asking his parents for money, even paid his own college fees and lived a lavish life. He dropped his final semester and ventured into the market of crypto trading. But the following year, as the market crashed, Saini’s crypto portfolio lost 90 percent. This incident forced 22-year-old Sani 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 started the idea of P2P payment platform. 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 I was the next ‘Rakesh Jhunjhunwala’ of the crypto world.
According to a report in indianexpress.com