'Frustrated DropOut': Meet The 22-YO Entrepreneur From Bangalore Whose Tea Stall Accepts Crypto Payments

From dreaming of becoming the next ¡®Rakesh Jhunjhunwala¡¯ of the crypto world to dropping out of college and starting a tea stall which accepts crypto payment, Bangalore¡¯s 22-year-old Shubham Saini has had an eventful journey in life and that too in a short span of time.

With an initial capital of just Rs 30,000, the 22-year-old student set up a tea stall named the ¡®Frustrated DropOut.¡¯ The tea stall, which accepts Bitcoin as payment too, seems to have become a popular hangout for crypto enthusiasts in the country. After all, the idea of 'chai with crypto' doesn't seem bad, right?

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His tea stall minimizes the use of plastic and non-recyclable items. The popularity of using crypto to buy something as simple as tea has helped his business grow, as indicated by Saini. On average, at least 20 new customers a week use cryptocurrency to pay for their purchases, claims Saini, as reported by Indian Express.

Interestingly, Saini has also placed a placard where he updates the INR to the dollar rate. ¡°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.¡±

As per its website, Frustrated DropOut¡¯s vision is to become the world's largest green company as well as a cafe chain, which will use only products made from our soil.

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Also Read: Gucci Becomes First Major Brand To Adopt 'ApeCoin' Crypto

The Rollercoaster Journey

Saini is an alumnus of Indira Gandhi University, Rewari, who went to Bangalore in search of job opportunities and was gradually introduced to crypto market trading. In 2020, after the market plunged by 60%, many investors bought into the dip in hope of earning potential profits. Saini had invested all of his pocket money and his life savings in buying cryptos.

¡°I had invested Rs 1.5 lakh, and in the matter of a few months, I witnessed a 100% jump in my portfolio. Soon, my crypto wallet increased to Rs 30 lakh, and this was a big deal for a student like me,¡± he said, the report adds.

The huge spike in his investment made him realize the true potential of crypto. ¡°I stopped asking parents for money, even paid my college fees, and lived a lavish life,¡± he said. This is when Saini dropped out of his BCA final semester to switch full-time to crypto trading. ¡°I thought I am the next ¡®Rakesh Jhunjhunwala¡¯ of the crypto world, but life is not easy after all.¡±

But, everything didn't go as dreamy as it seems.

Things took a U-turn in April 2021, when the crypto market crashed and 90% of Siani¡¯s crypto portfolio sank.

¡°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 sighed. Unable to ask for financial assistance from his parents, Saini had to sell his brand-new iPhone to make ends meet.

¡°Now it was a matter of self-respect¡­ As I looked for means online to make a fast buck, nothing made sense.¡± That¡¯s when the 22-year-old started the tea stall business.

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