7 Signs You’re Suffering From Crypto Dependency

Cryptocurrency Market blockchain

Are you checking how the price of Bitcoin has changed before going to bed and after waking up? Do you always keep the CoinMarketCap tab open in your browser? Is it difficult for you to engage in a conversation if it's not related to blockchain?

Bad news: you may be suffering from cryptocurrency addiction.

Fortunately, there are steps you can take to tame your unhealthy habit of cryptocurrency trading – at least, that's what a group of Scottish behavioral therapists claims.

Experts from the Castle Craig Hospital rehabilitation clinic have shared the most common symptoms of crypto addiction and how you can identify them. In case you haven't heard, Castle Craig is a rehabilitation clinic in Scotland that recently expanded its program to help people combat their obsession with digital currency trading.

So, here are seven of the most common signs of "crypto dependency":

1. You spend a lot of time on cryptocurrency trading activities, checking prices, and constantly thinking about your trading – neglecting other activities like work, socializing, and physical exercise.

2. You've incurred debts and financial problems due to losses suffered during trading.

3. You lie to friends and family about your actions or issues (e.g., hiding the amount of time spent on online trading).

4. You've experienced increased mood swings, feelings of hopelessness, and depression.

5. Anxiety leading to physical symptoms like sweating and tremors.

6. Unrealistic beliefs, such as "luck" chasing losses, assuming it's your turn to win next time.

7. Attempts to control your activity with no success.

Unfortunately, doctors note that recognizing these symptoms may not be enough. Dependent individuals have difficulty acknowledging such signs in their own behavioral patterns.

"A trader may not be aware of these negative consequences, especially if they are trading successfully and making a profit. Bankruptcy, loss of reputation, and a sense of self-worth, sometimes at a destructive speed, are what likely awaits a trader in the end."

According to the therapist, everyone is prone to developing "crypto addiction," even those who trade in their spare time. The problem is further exacerbated by "soft" rules and a low entry barrier for traders (opening an account on exchanges often takes only a few minutes).

"Based on our observations, people may start trading cryptocurrency as a hobby, a part-time job, but become fixated on this activity due to its captivating nature."