Are you in shock after reading the heading just like we were? What are the chances of being an addict of cryptocurrency trading? It sounds horrifying as any kind of addiction is dangerous for us. A clinic in Scotland as introduced a cryptocurrency addiction rehabilitation program. Cryptocurrency trading addiction is like gambling addiction and the treatment is based on techniques used in recovery from gambling addiction. Maybe the world of crypto can also get very dark.
What leads to addiction?
The first rehab program for people suffering from cryptocurrency addiction is in Castle Craig Hospital in Peeblesshire, Scotland. The reasons for addiction were concerns that large fluctuating changes in crypto markets that could lead to induce severe stress and even lead to investor suicides. Experts have explained that excessive trading of bitcoin has led to obsessive behavior characteristics and similar symptoms of addiction to online gaming. There’s no doubt that the bitcoin can be addictive as the bitcoin market is highly volatile so you have to keep a keen eye on the price rates. Traders often find themselves glues to the ‘minute by minute” market fluctuations.
A classic situation
“The high risk, fluctuating cryptocurrency market appeals to the problem gambler. It provides excitement and an escape from reality. Bitcoin, for example, has been heavily traded and huge gains and losses were made. It’s a classic bubble situation,” said gambling therapist at Castle Craig Hospital Chris Burn.
However, there are no statistics yet for any crypto addicts but its very much possible. As Craig stated that 13 million people worldwide trade cryptocurrencies and that should be enough reason to worry for the traders.
The number of people whose lives are damaged by their online gambling has increased in recent years. It had risen by more than 53% between 2012 and 2015, from 280,000 to 430,000. Now, this is what looks like a nightmare. If crypto gambling has similar figures I the recent years, new and more treatments must be introduced for the safety.
Led by recovered addicts
A former gambling and cocaine addict Tony Marini is leading the new and only treatment facility. He told the Evening Standard that as a former addict himself he has “insight and empathy” towards the other addicts. He stated. “I see cryptocurrency trading as a way for people to escape from themselves, into another world, because they don’t like the world they’re in. The first stage of treatment is to join other addicts in group therapy and share their life stories. This helps them identify with each other and realize that they’re not alone,” said Marini.
Now a webpage on Castle Craig Hospital is available where the cryptocurrency trading addiction and treatment is explained. The following symptoms are as an indicator of a crypto trading problem: “feeling muscle tension and anxiety, constantly checking the prices online (even in the middle of the night) and thinking about cryptocurrency trading when doing other things.”
The treatment involves a 12 step approach combined with Cognitive Behavioural Therapy. The website also has questionaries in order to identify potential crypto addicts. Addiction is terrible and if you are in trouble, get help ASAP. Don’t wait or it will be too late.