INSUBCONTINENT EXCLUSIVE:
The cafe has turned into a haven for cryptocurrency traders.Cryptocurrencies are increasingly becoming popular and gaining a lot of traction
However, when it comes to knowledge about digital coins, many people are still behind the curve
And, in order to get them started with cryptocurrencies, a cafe in Thailand is providing information related to digital assets
This cafe has turned into a haven for cryptocurrency traders, with screens displaying the latest market movements and investment advice
Customers at the HIP Coffee - Restaurant can be seen staring at their laptops, nervously sipping coffee, or taking a bite of their favourite
cake.Cryptocurrency traders get to exchange information, which they believe gives them a good chance of success, in a volatile market that
just saw Bitcoin, the world's oldest and most popular cryptocurrency, hit a low recently.A Reuters report quoted a cryptocurrency trader,
According to official data, 251 billion baht ($7.62 billion) in digital assets were traded in November 2021, indicating that
cryptocurrencies were gaining traction in Thailand.Another trader Apakon Putnok said that the presence of so many screens was beneficial, as
it helped them analyse a trade, consider the factors behind a crash and make decisions accordingly.Here's a video of the cafe showing its
multiple screens:The cafe first opened its doors in 2013
Since the cryptocurrency data panels were installed in 2020, the number of customers has doubled
Customers who used to come only on weekdays are now frequenting the cafe every day
The concept has attracted a following of dedicated customers who visit on a regular basis.The cafe's manager, Oakkharawat Yongsakuljinda,
said that apart from providing free investment advice, they also plan to launch their own cryptocurrency coin soon.A few days ago, Thailand
announced that it had agreed to scrap a 15 per cent cryptocurrency tax, following fierce opposition from traders and cryptocurrency
proponents in the country
This was good news for the burgeoning cryptocurrency industry.Thailand's financial authorities announced plans to regulate the usage of
digital assets as a payment mechanism a few weeks ago
The Bank of Thailand, Ministry of Finance and the Securities and Exchange Commission announced that guidelines for certain digital assets
that support the financial system without posing a systemic risk will be released.
