In Scotland, a withdrawal clinic has increased its clientele: In addition to the usual suspects who want to get their drug or gambling use back under control, there are now also crypto addicts a point of contact for the treatment of their addiction.
Cryptocurrency trading can be addictive. This view is at least doctors of Castle Craig Hospital in the Scottish district of Peeblesshire. So the search expert Tony Marini sees the hunt for digital money as a form of gambling addiction:
“Crypto-addicts place bets on rising or falling rates like a player betting at the roulette table. Anyone who does the full-time job (at the crypto exchange or in the casino) is generally less at risk of addiction. But if you secretly do that at home, you can quickly get over the lure of high profits.“
Unlike many alcoholics or drug addicts, the crypto addict can not see his addiction at the tip of his nose, Marini continues. He considers gambling addiction to be the most dangerous of all:
“I know three people who killed themselves because of their gambling addiction. Studies have shown that the suicide rate is higher among gambling addicts than any other addict. They need a lot of money and take off their families’ last shirt […].“
Marini speaks from experience: He was even for years game and cocaine addicted until he made a withdrawal and trained to become a therapist.
“The high-risk cryptocurrency business is appealing to gambling addicts. It is exciting and allows escape from reality. For example, Bitcoin traded heavily, making huge profits and losses. It’s a classic bubble.“
How the addiction manifests itself
On the homepage of Castle Craig Hospital you will find a list of clues suggesting crypto addiction. If you are addicted, complete some or all of the following 12 points:
- Spend all their time and money on online trading;
- Experience financial problems;
- Chase their losses (they spend more to recoup their losses)
- Constantly borrow from family and friends, or steal to fund their habit;
- Believe a big win is about to happen;
- Pawn their belongings to raise funds;
- Lie to friends and family about the extent of their losses;
- Experience mood swings, depression and hopelessness;
- Constantly think about the next investment;
- Become restless or irritable when attempting to cut down or stop;
- Deny the problem;
- Try many times to to control, cut back or stop.
The Rehabilitation Center has set up a special section for — literal — cryptojunkies. This makes them the first clinic worldwide with such an offer. The treatment is based on the Twelve-Step Program, which is used, for example, in Alcoholics Anonymous. There are also findings from cognitive behavioral therapy.