How cryptocurrency trading can be addictive

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Rehab centers around the world are starting to accept new patients with a serious problem: gambling addiction linked to cryptocurrency trading.

Powerful and destructive addiction

Castle Craig Hospital was opened in Scotland, UK, over 30 years ago to treat alcoholism and other forms of drug addiction and behavior. Rehabilitation programs for cryptocurrency employees.

The 29-year-old participant in the program, who asked to be identified as Roy from the Netherlands, explained that he had a history of alcohol and other drug abuse, finally recovered in 2017 and found a job as a drug addiction consultant for nearly. four years .

But when he discovered cryptocurrencies in 2021, he said he saw it. unique opportunity and invested several thousand dollars in the Binance BNB token, which turned into $ 8,000 in two weeks.

I think the first success basically gave me a feeling of control, power, unlimited potential, because there is no limit to what you can earn. It is an incredible feeling to sit in front of your computer screen and watch this number grow and rise and rise and rise every day. And yes, he caught me, “Roy said.

People who turn to Castle Craig for help with their cryptocurrency addiction are not isolated cases. UK-based cryptocurrency lending and lending platform AAVE launched in 2019. rehabilitation program in Zug, Switzerlandfor People addicted to cryptocurrency trading. AAVE reports this in a press release. mental and physical health many people was in danger and that he wanted to help the community.

Process similar to gambling

At Castle Craig, compulsive cryptocurrency trading is seen as a form of gambling addiction :

When you cross the line of dependence [au trading de crypto], it’s just like gambling. It’s the constant urge to trade or bet, it’s the excitement, the volatility of money going up and down and seeing it produce the adrenaline, endorphins and dopamine that my brain thinks really exist.

said Tony Marini, Castle Craig’s chief medical officer, who runs a gambling, gaming and cryptocurrency addiction treatment program. Opportunity to get rich awakens the imagination and the desire for a better life, and when investors follow this fantasy, they fall into it dependency zoneHe added.

Leah Nover, professor and director of the Center for Gambling Research and Addiction Counseling Education (ACT) program at Rutgers University, says addictive behaviors inhibit other activities.

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If you start to worry [le trading de crypto-monnaies] more and more every day, and your thoughts on trading interfere with other life activities, responsibilities, this is a sign of addiction, Nover said in an interview with Forkast.

Another indicator is the “hunt”, when investors pour more and more money into the market in hopes of winning it all back. More rational traders are cautious when turning to other assets or investing what they can afford to loseNever said.

But “a person who plays cryptocurrency will say,” Oh my God, I lost all this money. “There is no other way to get it back. But cryptocurrencies will skyrocket again. That’s why I pay more “.

This is in line with Roy’s pattern, which has begun to expand his investments in memes and other cryptocurrencies, and after beating last year’s all-time highs, he has. turn $ 3,000 into about half a million dollars. Then he lost everything when the market collapsed that same year he became depressed, started taking drugs again, and eventually turned to Castle Craig for help.

Mental health professionals view gambling addiction as a process addiction, similar to sex addiction, in which people compulsively follow a particular process or action. Addicted players not necessarily happy if they keep winningbecause they don’t do it for money, Mr de Vries explained.

They are happy when all the money is gone, because then they feel like cocaine addicts when the cocaine is gone and they are like “Okay, I can finally sleep”.

This is the reason for cryptocurrency trading junkies they struggle to cash out their winningsDe Vries said. Roy said he didn’t make any profits because he saw it as an opportunity to earn enough to be vacation for the rest of your life.

I took this money [les bénéfices] and I just spread it to multiple projects. I told myself that if I can do it with one project, why not do it with 10 or 20 projects?

Roy says he considers himself “lucky” as he has only lost unrealized profits, but cryptocurrency junkies lose more than money. Addiction becomes the most important thing in your lifeAccording to him, this damages work and social life, financial well-being and relationships with partners and family members.

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Castle Craig’s Marini said substance addiction is easier to spot, but the signs of addiction to gambling or cryptocurrency trading are clear. Anxiety, depression and panic attacks when markets rebel against drug addicts.

So they begin zBorrowing money, lying and manipulatingwhich is a downward spiral that could lead to suicidal thoughtsHe added. What Addicts usually isolate themselves and withdraw into oneself, neglecting personal relationships, social life and work responsibilities, added Marini.

Complex recovery

As with all addictions, the first step in recovery for cryptocurrency trading employees is to heal. realize there is a problem and from Find helpMarini said, adding that while the addict remains, family members are often aware of the problem and seek help. to deny.

Addicts who sign up for programs like Castle Craig participate in individual and group therapy sessions. Identify the main problems that can lead to addictionsuch as past trauma, depression and other mental health problems.

Recommend Marini total abstinence from cryptocurrency trading to avoid relapses, as happens with drug treatment.

“However, cryptocurrency trading is not addictive. So just because a random person starts trading doesn’t mean they become addicted, ”Jan Gerber, CEO of Paracelsus Recovery, an addiction treatment center for wealthy people in Zurich, Switzerland, told Forkast.

What people who should be carefulWith People who have suffered trauma that has a history of addiction in his family, they suffer are depressed or stressed to exhaustionJan Gerber said.

They are “more prone to addiction to these beneficial chemicals”. [dans le cerveau, comme la dopamine] compared to the volatility of real investments in the cryptocurrency market and, in particular, earnings.

These testimonials remind us The danger that cryptocurrency trading can pose and the importance of getting help at the first sign of discomfort.

To learn more about the mistakes you shouldn’t make during a bear market, check out our article here.

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