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A cafe in north-east Thailand has been transformed into a haven for cryptocurrency traders, with the addition of banks of screens showing the latest market movements and offering financial advice alongside coffee and cake.
Behind a serene façade of cherry blossom trees, customers of HIP Coffee & Restaurant stare at their laptops, cautiously sipping iced coffee - part of a growing interest in digital assets in Thailand that has regulators concerned.
"Being here is interesting for me because I get to meet individuals who share my interests," said Detnarong Satianphut, a 35-year-old cryptocurrency trader.
"We (traders) exchange information since we are up against millions of people in the trading industry."
Thailand's cryptocurrency market has been gaining traction, with up to 251 billion baht ($7.62 billion) worth of digital assets moved in November, according to the latest government figures.
Thailand announced earlier this month that it would begin regulating the use of digital assets as payment methods, citing potential threats to financial stability and the wider economic system.
The HIP cafe, which opened in 2013, received a crypto makeover in 2020.
According to workers, its consumer base has grown since then. According to manager Oakkharawat Yongsakuljinda, the cafe gives alternative investment prospects for residents of the neighbouring province of Nakhon Ratchasima.
It provides free investment advice and is considering launching its own digital coin.
Its users claim that trading at the café provides them with the best chance of success in a turbulent market, in which the most well-known cryptocurrency, bitcoin, just hit six-month lows.
"Having so many screens is quite beneficial... We instantly recognise and begin analysing crash factors and whether we should buy," said Apakon Putnok, a 23-year-old trader.
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By Crypto PiratesA cafe in north-east Thailand has been transformed into a haven for cryptocurrency traders, with the addition of banks of screens showing the latest market movements and offering financial advice alongside coffee and cake.
Behind a serene façade of cherry blossom trees, customers of HIP Coffee & Restaurant stare at their laptops, cautiously sipping iced coffee - part of a growing interest in digital assets in Thailand that has regulators concerned.
"Being here is interesting for me because I get to meet individuals who share my interests," said Detnarong Satianphut, a 35-year-old cryptocurrency trader.
"We (traders) exchange information since we are up against millions of people in the trading industry."
Thailand's cryptocurrency market has been gaining traction, with up to 251 billion baht ($7.62 billion) worth of digital assets moved in November, according to the latest government figures.
Thailand announced earlier this month that it would begin regulating the use of digital assets as payment methods, citing potential threats to financial stability and the wider economic system.
The HIP cafe, which opened in 2013, received a crypto makeover in 2020.
According to workers, its consumer base has grown since then. According to manager Oakkharawat Yongsakuljinda, the cafe gives alternative investment prospects for residents of the neighbouring province of Nakhon Ratchasima.
It provides free investment advice and is considering launching its own digital coin.
Its users claim that trading at the café provides them with the best chance of success in a turbulent market, in which the most well-known cryptocurrency, bitcoin, just hit six-month lows.
"Having so many screens is quite beneficial... We instantly recognise and begin analysing crash factors and whether we should buy," said Apakon Putnok, a 23-year-old trader.
Support us!