Explorer

In This Thailand Cafe, Food Is Served With Free Advice On Cryptocurrency Trade

In a volatile market that just saw Bitcoin, the most well known cryptocurrency, hitting a six-month low, crypto traders get to exchange info, which they say offers them a good chance of success. 

New Delhi: Thailand is witnessing a cryptocurrency boom, with shops and other establishments now increasingly accepting crypto as payment, and big companies going for Bitcoin mining.

Cashing in on this momentum, a cafe in northern Thailand’s Nakhon Ratchasima province has given itself a crypto makeover, offering free investment advice to customers along with coffee, according to a Reuters report.  

It has wall-to-wall screens showing the latest market moves, keeping the crypto traders coming to the cafe hooked to them, the report said. 

The many screens help the traders “analyse crashing factors” and decide whether to buy, a trader at the HIP Coffee & Restaurant was quoted as saying.

In a volatile market, which just saw Bitcoin, the most well known cryptocurrency, hitting a low, the traders get to exchange information, which they say offers them a good chance of success. 

"It's exciting for me to be here because I get to meet people who share the same interests," said another crypto trader, Detnarong Satianphut.

HIP cafe has been around since 2013, but it got the crypto makeover only in 2020, and claims that footfall has since doubled.

The cafe suggests alternative investment opportunities for people in the Nakhon Ratchasima province, manager Oakkharawat Yongsakuljinda told Reuters.

It is planning to start its own cryptocurrency coin, the report said.

ALSO READ | How To Make An NFT? How Is NFT Linked To Cryptocurrency? 5 Frequently Asked Questions Answered

Thailand To Regulate Use Of Cryptocurrencies As Payments

Quoting latest official data, the Reuters report said Thailand saw a trade of 251 billion baht (around $7.62 billion) in digital assets in November.

The number of people who are estimated to own cryptocurrency in Thailand surged over 400% in 2021, from 3.6 million the year before, according to a Nikkei Asia report published earlier this month.

The surging interest in digital assets, however, has the regulators worried.

Thailand said earlier this month that it would now regulate the use of cryptocurrencies as payments, as it warned of potential risks to the country’s financial stability and overall economy.

View More
Advertisement
Advertisement
Tue Jan 21, 12:33 pm
connaught place
22.7°
Precipitation: 0 mm    Humidity: 44%   Wind: NW 13 km/h
See Today's Weather
Powered By:
Accu Weather
Advertisement

Top Headlines

Cyclone Fengal: Puducherry Schools, Colleges Shut Today After Heaviest Rainfall In 30 Years
Cyclone Fengal: Puducherry Schools, Colleges Shut Today After Heaviest Rainfall In 30 Years
Farmers' Protest: Centre Gets Seven-Day Ultimatum To Fulfil Demands
Farmers' Protest: Centre Gets Seven-Day Ultimatum To Fulfil Demands
Maharashtra Govt Formation: Fadnavis Dials Eknath Shinde Again, CM’s Son Denies Vying For Deputy Post — Updates
Maharashtra: Fadnavis Dials Eknath Shinde Again, CM’s Son Denies Vying For Deputy Post — Updates
Sukhbir Badal Directed To Perform Guard Duty, Clean Shoes At Golden Temple As Akal Takht Pronounces 'Tankhah'
Sukhbir Badal Directed To Perform Guard Duty, Clean Shoes At Golden Temple
Advertisement
ABP Premium

Videos

Naresh Balyan Arrest: Why are questions being raised on the arrest of AAP MLA Naresh Balyan before Delhi elections?Campus Beats S4: Shantanu, Shruti & Sahaj Reveal Inside Gossips, Talk About Dance, Romance & MorePawan Singh's 'Sooryavansham' Shatters Records, Taking Bhojpuri Cinema to New Heights | ENT LivePowerStar Pawan Singh's Net Worth Revealed, A Look at His Luxurious Life and Crores in Wealth!

Photo Gallery

Embed widget