Bengaluru Tea Stall Accepts Payment in Cryptocurrency, Here's How it Started

In today’s episode of Peak Bengaluru, a tea stall has caught the attention of Twitterati. The stall’s banner reads in bold letters: “Cryptocurrency accepted here.” The ‘Frustrated Dropout’ tea stall enterprise was started by one Shubham Saini, who dropped out of college to start the stall, reported The Indian Express. It accepts Bitcoin, and is a popular haunt among crypto enthusiasts in Bengaluru. As a student, Saini initially gained a lot of profit in crypto trading, but those prospects were dashed in April 2021, when the crypto market crashed.

Struggling for finances, Saini set up a modest tea stall on a sidewalk. The Frustrated Dropout chain keeps the use of plastic and nonrecyclable items to a minimum. Since he started accepting crypto as a mode of payment, his business grew. At least 20 customers pay using cryptocurrency per week on an average, Saini told The Indian Express. He uses Paxful crypto platform to accept the payments, and has placed a placard where he updates the dollar to INR rate.

Many people have modified their means of livelihood to adjust to the growing digital landscape around them. For instance, earlier this year, a destitute man from Bihar who makes his living from charity was seen going digital. Raju Patel, who seeks alms at Bettiah railway station, accepts charity through PhonePe. He also has a placard with a QR code hung around his neck, reported news agency ANI. “I accept digital payments, it’s enough to get the work done and fill my stomach,” Patel told ANI.

The cases of college dropouts going the startup way are also on the rise. For instance, there is a ‘MBA Chai Wala’ and a ‘MA English Chaiwali’ who are quite popular. Madhya Pradesh’s Praful Billore who started MBA Chai Wala took up the enterprise after he failed to clear CAT. It was a fortunate decision, as it made him a millionaire with over 22 outlets across the country.

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