Crypto Trading is Now a Curable Addiction in a Spanish Rehab Center

Cryptocurrency Trading Addiction: A Growing Concern

According to the referenced rehabilitation institution, 1% 

Of cryptocurrency traders will have a "extreme" addiction to trading cryptocurrencies.

The treatment of a relatively new type of addiction, cryptocurrency trading, is being offered at a luxury rehab facility in Spain. The Balance is a wellness centre that was established in Switzerland. Its primary location is on the Spanish island of Mallorca, and it also has branches in London and Zurich.

According to a BBC article, the facility has long treated addictions like those to narcotics, alcohol, and behavioural health but has just recently started providing treatments to help those who are addicted to cryptocurrency trading.

According to the Feb. 5 report, one of the center's clients contacted them in order to "wean off cryptocurrency" after apparently making $200,000 worth of trades per week.

A four-week stay is required for the treatment, which also includes yoga, massages, and counselling. The cost may exceed $75,000 in total.

Over 100 patients with "serious" cryptocurrency issues have visited Castle Craig Hospital, a Scottish addiction treatment centre that has been treating high-adrenaline crypto traders since 2018.

Castle Craig’s rehabilitation facility. Source: Castle Craig.

In Asia, Diamond Rehabilitation, a wellness clinic with a location in Thailand since 2019, has launched services for bitcoin addiction rehab and therapy.

As part of its thorough, multi-stage approach to aid traders in overcoming their addiction, the group claimed it uses Cognitive Behavioral Therapy (CBT), Motivational Interviewing (MI), and Psychodynamic Theory (PT) in rehab.

There is said to be a significant demand for treatment facilities that provide treatments for trading addicts due to the euphoric highs and crushing lows of the 24/7, fast-paced bitcoin trading environment.

According to a Family Addiction Specialist article, 10% of bitcoin traders will face issues beyond a financial loss, while 1% will develop a severe pathological addiction based on statistics on gambling disorders.

 The 24/7 nature of crypto trading has caused many to constantly check price charts. Source: Family Addiction Specialist.

Constantly checking the prices online, especially in the middle of the night, is one sign of this addiction, according to Family Addiction Specialist.

Also Read - Crypto requires adult supervision and upheaval to grow up. — Michael Saylor