Trading Bitcoins and digital currencies
Trading digital or cryptocurrency such as Bitcoin, Ethereum, Cardano and Dogecoin with all the heavy price fluctuations, can cause a significant 'high'. Just like with gokken, trading in digital currencies can have coercive and uncontrollable consequences. At Castle Craig to deal with We have both an addiction to cryptocurrency trading and gambling as well as a behavioral addiction.
How does cryptocurrency addiction work?
It starts with the decision to trade digital coins. The person in question concludes that acting in it has a much better chance of achieving financial goals than through his or her current job. Everyone dreams of financial independence, right? From that moment on, the risk of addiction is lurking. This starts to take serious consequences as priorities shift and the trader works to be able to invest in bitcoins rather than work to live and pay the bills.
Work-related consequences Bitcoin addiction
The day job becomes a necessary inconvenience and an afterthought in such a case. Because the crypto market is so volatile, traders believe that - to maximize their returns - they should actively pay attention to the digital coin market every hour of the day. This therefore has a negative impact on job performance.
Social consequences of cryptocurrency addiction
Bitcoin addiction can also lead to social relationship decline. For example, the trader scans the charts when a friend sends a message or wants to go to the gym. He declines the offer, because he has something more important to do. Feeling that tomorrow is not going to be a cryptocurrency rest day, he is also canceling a friend's birthday dinner. After all, it is much nicer to look at his coins and stare at his portfolio.
Finally reaching an advanced stage, digital currency trading has taken over the trader's relationships, work and health, creating a profound addiction comparable to a gambling addiction.
Bitcoin addiction treatment
If someone is being treated for a substance addiction, a behavioral addiction such as that to trading digital currency can also be involved. If there is no substance addiction, we can investigate whether the behavioral addiction can be treated in our basic mental health care.