Scottish Rehab Clinic offers Treatment to Cryptocurrency Addicts

Since then, the cryptocurrency market has become a place where thousands of valuable cryptocurrencies are available, and people enter these markets to buy, sell or exchange their cryptocurrency for another digital currency or fiat. Trades take place on a daily basis, with many cryptocurrencies being converted into majors backed by the government or other cryptocurrencies. One trait that has proven itself is how incredibly volatile the market can be. With this fact staring at many cryptocurrency enthusiasts, it is easy to plunge into a cycle of speculation, profit, and loss, among others.

The addiction to trading cryptocurrencies such as Bitcoin is a behavioral addiction, much like the addiction to gambling and the compulsive online “day trading” of the stock market. Call it an almost funny addition that, like all forms of games, can be highly addictive. For most people, coding is rarely a complete addiction that does not require treatment or deep soul-searching. But for others, it’s a serious dilemma that has ruined lives, jobs, relationships, etc. Cryptocurrency addiction is essentially an addiction to gambling, and reports have shown that among all addictions, gambling has produced the highest suicide rate.

One of Europe’s leading rehabilitation clinics, Castle Craig, which treats people with a wide range of drug and alcohol addictions, also highlights cryptocurrency addiction as an area of ​​concern and offers treatment to addicts using techniques from gambling addiction programs. Located in Peeblesshire, Scotland, about 25 miles from the Scottish capital of Edinburgh, the Rehab Clinic is the first rehab clinic in the world to treat crypto addiction. The center was established in 1988. According to the company’s website, “The clinic provides treatment for people addicted to trading, spread betting, and trading cryptocurrencies such as Bitcoin, Lite coin, Ethereum, and more.”

Although there are no exact figures on the number of people who are addicted to cryptocurrency, it is said that around 13 million people around the world are trading in the cryptocurrency market. “The high-risk and volatile cryptocurrency market attracts the problem gambler,” said Chris Byrne, a gambling therapist at Castle Craig Hospital. “Cryptocurrency trading differs from gambling (and stock trading) by many characteristics including its 24/7 availability, its volatility, and the sheer size of social media that easily reinforces addicts’ out-of-control tendencies.

Cryptocurrency addicts treatment center opens on the Scottish border

As interest in cryptocurrency trading continues to spread like wildfire in many countries around the world, the hospital is seeing a significant increase in the number of crypto rehab program consultations. According to founder Anthony Marigny, a former gambling and cocaine addict, inquiries about the rehab program “have jumped ten times since last year.” Marini claims to be the first to identify the links between cryptocurrency trading and gambling, and how the addictive journey evolves from casual trading and winnings to long bouts of loss, despair, and finally illegal actions and sometimes suicide. “Having gone through this myself, my own addiction experience has given me insight and empathy for other people with the same problem,” Marigny said.

According to the clinic’s website, “Some of the symptoms that cryptocurrency users should be aware of (which indicate addiction) are: feeling muscle tension and anxiety, constantly checking prices online (even in the middle of the night), and thinking about trading cryptocurrency. do other things.” Although not everyone who has access to the Internet and trades or invests in cryptocurrencies on a daily basis is addicted to gambling, it can be difficult to tell the difference between using cryptocurrency as a passion or an addiction. Experienced therapists at Castle Craig can learn about gambling addiction, which includes cryptocurrency trading, by placing visitors in various diagnostic questionnaires and treatment assessments.

Another trend particularly noted for cryptocurrency addiction is that this, along with other behavioral concerns, stems from larger causes of severe drug or alcohol addiction. This treatment program benefited 15 clients in 2017 and continues to benefit more people. Like the popular 12-step program that has been adopted to treat different types of addiction, Marini advocates the same for the relatively nascent but rapidly growing space of crypto trading addiction.

Treatment at Castle Craig Residential Rehabilitation Clinic includes extensive evidence-based 12-step therapies, cognitive behavioral therapy (CBT), trauma therapy, and equine therapy, among others. These therapies are guaranteed to help the visitor understand their addiction, learn about the consequences (and deprivation), decide what they want instead of gambling, build self-esteem, learn how to manage debt and money, and finally learn assertiveness and impulse control.

“The first stage of treatment is to join other addicts in group therapy and share their life stories,” Marini says. “This helps them get to know each other and realize that they are not alone.” The program only allows a moderate diet of caffeine and nicotine and limits access to phones to only two hours per week. The 6-month rehabilitation program for people aged 20-45 has received funding from the British National Health Service and has extended to countries such as the UK, USA, Dubai, Malta, Ireland, and the Netherlands.

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