Vinay always had a love for entrepreneurism. His father Nand Lal Paswan works as a school principal at Kendriya Vidyalaya. Vinay’s family is originally from Koindi, a small village in Kaimur, Bihar, but Vinay and his family often had to move places due to his father’s job. Being the son of the school principal, Vinay had a lot of pressure to perform well in studies. However, he always made the effort to question himself about the real-life applicability of the lessons he learnt in school. He determined the answer was a big no and realized there was much more to life than scoring perfect marks. As a student, he was quite outdoorsy and was very active in extracurriculars.
After completing his 12th grade he moved from Samastipur, Bihar to Varanasi to pursue higher studies. After shifting to Varanasi he experienced a sense of newfound freedom. He wanted to dedicate a substantial amount of time to work on his ideas during this course and took up an admission in a private college where attendance was not an issue would be a perfect move. He started his first business at age of 18 and named it Baozi Momo Cafe. This was a momo franchise business that aimed at small sellers. For a price of INR 5000, anyone could buy the rights to his momo counter and start selling momos under the brand name. After a couple of months, he was not able to manage the business and had to put an end to the venture.
He did not stop just there. Vinay soon started exploring and acquiring high-demand skills like web design, graphic design, UI UX, video editing, SEO, and white hat hacking through YouTube and worked as a freelancer during this period. He later moved to BHU to pursue a Master’s in Travel and Tourism Management where he co-founded a startup with his college friend Harshit Bhatt. They formed a new company named Ringel Web technology and worked on building an App that helped local shops and businesses shift their ventures online. Through this app, consumers could search, bargain, and compare products from other local stores and place orders without having to visit local stores in person. Their company soon received incubation in IIT, BHU, however, they soon had to close shop due to the pandemic.
Vinay was not ready to give up on his love for new ventures yet. He soon started exploring the blockchain and crypto space and realized that the field had a lot of potential for innovative business ideas. Followed by this research, Vinay started a startup from his home and named it ”BitcoinAsia”. It was a one of kind business venture that allowed travelers to make payments in Cryptocurrencies while booking their travel packages. Vinay was able to raise 45,000 USD through an ICO from 200+ investors worldwide. Vinay knew well that building a reliable and efficient team is extremely important and that is exactly what he did. He convinced one of his classmates from his college – Rohit Prakash who was working with Expedia at the time to join BitcoinAsia.travel as the Co-founder. He also invited his schoolmate – Inayat Hussian who is working with Swiggy as software devolopers to work with them as the Co-founder & CTO.
Vinay Chandra Lal and his team’s persistent efforts to build a profitable business have still not stopped. Nearly a decade of stubbornness, passion, and innovation brought Vinay closer to success. Now Vinay and his team are heading towards building a one-of-a-kind Crypto incubator business named “The Crypto Launchpad” which is helping entrepreneurs across the world build their innovative crypto and Blockchain projects.