The report revealed that many people now consider cryptocurrency trading addictive and are seeking help to do so.
According to online therapist Dylan Carr
“It’s very similar to being at a roulette table … it requires your attention. If you take your eyes off the prize, you can miss a big chance and get a big penalty.”
One such self-proclaimed addict, Stevie Rojas, has his trading experience. BitcoinBut soon, he started trading more dangerous altcoins because of the thrills associated with such transactions.
He continued that this had a major impact on his personal life, but after going to Manila’s confession and praying for it, he was finally able to quit.
Is crypto trading addictive?
Despite the case of people like Rojas, the idea that crypto trading is addictive is controversial. This may be because space is still relatively new and beyond that, behavioral addictions such as gambling have just begun to be accepted as a form of addiction.
However, there were some valid concerns among experts and regulatory agencies regarding crypto trading. The rise in retail transactions and the surge in digital tokens are also helping.
For example, a popular retail trading platform Robin hood It was once accused of turning an investment that would hurt consumers into a game.
Treatment center and crypto addiction
Despite disagreements over whether crypto trading is eligible for addiction, mental health experts are reporting an increase in the number of people coming to them to treat crypto trading.
One such location is the Paracelsus Recovery Private Clinic in Switzerland, which charges $ 90,000 to treat crypto trading and other unorthodox addictions. According to clinic manager Jan Gerber, inquiries about crypto-related issues increased by 300% between 2018 and 2021.
Another treatment center Craig Castle In Scotland. Since 2016, we have treated more than 100 people with cryptographic problems. Anthony Marini, a senior specialist therapist there, described the “cryptographic curve” that begins with “very fulfilling” transactions and addiction.