Connect with us

Hi, what are you looking for?

Finance

Scottish hospital offers treatment programme for cryptocurrency addicts

A hospital on the Scottish border is offering treatment for ..

A hospital on the Scottish border is offering treatment for cryptocurrency trading addiction as part of its gambling rehabilitation course.

Castle Craig Hospital in Peeblesshire, which has offered treatment for other common addictions such as drug and alcohol dependency for 30 years, will be running a programme for so-called “crypto addicts”.

Although cryptocurrency trading has become increasingly popular in recent years, there are no concrete figures on the number of people suffering from addiction according to Castle Craig.

Read more: Plus500 sets course for main market after crypto surge and record quarter

Chris Burn, a gambling therapist at Castle Craig, said: “The high risk, fluctuating cryptocurrency market appeals to the problem gambler.”

“It provides excitement and an escape from reality. Bitcoin, for example, has been heavily traded and huge gains and losses were made. It's a classic bubble situation.”

Due to cryptocurrencies' volatile price patterns and obscure value factors, it can become an even more exciting investment than conventional gambling and therefore has a higher risk of addiction, according to the hospital.

The hospital said: “Cryptocurrency users can get hooked by the volatile fluctuation of prices online which creates a high when they buy or trade a winning currency. This can be exciting but also addictive and, like gambling addiction, can be financially disastrous.”

Read more: Revolut adds XRP and bitcoin cash to its crypto selection

Click to comment

Leave a Reply

Your email address will not be published.