A northeast Thailand Cafe has garnered up a reputation by becoming home to cryptocurrency traders. It has added banks of screens showcasing all the latest market moves, as well as dishing out good investment advice, alongside serving up coffee and cake for its customers.
Customers can expect to calmly sit at HIP Coffee & Restaurant behind their laptops, enjoying a good warm beverage and a sweet treat all the while keeping up with the goings-on of the crypto world.
35-year old crypto trader Detnarong Satianphut said “It’s exciting for me to be here because I get to meet people who share the same interests.”
“We (traders) get to exchange information because in the trading world we are coming up against millions of people.”
Crypto of all kinds have been gaining some serious traction in Thailand, with as much as 251 billion baht (amounting to $7.62 million) in digital assets were traded in November, per the official data.
Just earlier this month Thailand announced it’d be regulating the use of digital assets as payments, but it also warned of the potential risks to financial stability and the overall economic system.
HIP cafe has been around since 2013 finally got itself a good crypto makeover in 2020. From then onwards, per the staff of the cafe, its customers have sizably doubled. The manager of the establishment, Oakkharawat Yongsakuljinda, stated that the cafe provides investment opportunities for the people surrounding the province of Nakhon Ratchasima.
Other than serving coffee and providing investment advice, the cafe soon plans to start its very own cryptocurrency coin as well. According to the customers who frequent the cafe, they say that it provides them the best chance of success in what is quite clearly a volatile market, especially for what’s considered to be the best cryptocurrency right now, Bitcoin when it hit six-month lows this week.
A 23-year-old trader named Apakon Putnok said “Having so many screens helps a lot … We immediately know and get to analyse crashing factors and whether we should buy.”