Cryptocurrency addiction treatment programme
At Paracelsus Recovery, our cryptocurrency addiction treatment programmes are grounded in our core values of compassion, pragmatism and expertise. We believe that, because each person is an unique individual, their treatment plan must also be tailor-made to suit their specific needs.
To achieve this, we only ever have one client at a time and our team of experts and specialists will focus exclusively on you and your requirements. Together, we can help you overcome whatever provocations you are suffering.
Cryptocurrency addiction treatment programme
Cryptocurrency is a new yet pervasive addiction. While it can be difficult to surmount, recovery is possible and we are here to help.
At Paracelsus Recovery, we recognise that when we begin to depend on external acts or substances such as cryptocurrency, we are suffering from internal neurochemical imbalances. These could be rooted in biochemical imbalances, nutritional imbalances, emotional issues, underlying childhood traumas, relational issues, or unsustainable volumes of real-life stress. Our number one priority is understanding what difficulties you use cryptocurrency investing to manage.
To achieve this, you will undergo an extensive 360-degree assessment once you arrive at our exclusive clinical residence. This includes an extensive medical check-up, psychiatric evaluation, comprehensive laboratory tests, a functional health assessment, nutrition and lifestyle assessment. With this information, we will design an individually tailored treatment plan. We adopt a harm-reductionist approach to addiction which means we will never force you to quit cryptocurrency. Instead, our goal is to help you create healthy coping strategies for dealing with life’s stressors. To achieve this, we will help you break the neurochemical feedback loop during a period of abstinence. During this time, you will work with our psychotherapy team to address the underlying reasons for the addiction. We will also provide psychoeducation to help you understand the neuroscience behind the addiction.
If we can successfully address these underlying issues, then clients can often return to their cryptocurrency trading. At this point, you will understand what is happening in your brain, and most importantly, you will know when and how to stop or take a break instead of doubling down on losing bets.
Cryptocurrency dependency is highly co-occurring with other addictions, such as gambling, alcohol or substance abuse. We will make sure to address the root causes of each dependency you are having to battle.
Why is cryptocurrency addictive?
If you answered yes to any of these, you might be developing a dependency. If you would like to help to surmount these issues, get in touch to learn more about our four-week residential treatment program for cryptocurrency dependency. We can provide inpatient treatment in Zurich and London. Alternatively, we can design a fully online care plan.
Why is cryptocurrency addictive?
Cryptocurrency addiction is the compulsive need to continue trading in cryptocurrencies notwithstanding the negative consequences it has on your life, health and finances. Cryptocurrency addiction is a behavioural addiction. Similar to gambling or gaming addiction, this means a person becomes dependent on a set of behaviours that release dopamine in a manner akin to substance abuse.
People become dependent on cryptocurrency trading due to the addictive nature of the markets. The lack of regulation makes cryptocurrencies highly volatile, which means when you win, you win big. These ‘big wins’ release vast amounts of feel-good chemicals in our brain, which is why cryptocurrency can be addictive.
For instance, all addictions from heroin to social media or cryptocurrency occur when we are struggling with difficult emotions or experiences. We can become hooked on the feeling of winning because it provides us with much-needed ‘feel-good chemicals’ that we cannot receive from our day-to-day experiences.
That being said, cryptocurrency addiction is also rooted in thrill-seeking behaviours. For instance, the popularity of cryptocurrency grew substantially during the pandemic. As a result, it has a ‘buzz,’ around it, and many people are eager to invest as it seems like an intelligent decision. While that might be true, unlike gambling, most people are unaware of the risks involved.
Signs of cryptocurrency addiction include
Finding yourself preoccupied with the tardiest cryptocurrency news (e.g. always keeping a CoinMarketCap tab open in your browser).
Trading in secret or minimizing the extent to your loved ones.
Experiencing an intense urge to increase the amount of money invested continually.
Feeling anxious, irritable or losing sleep when you try to stop.
Difficult emotions such as guilt, anxiety or stress trigger an urge to invest.
If you are worried about your cryptocurrency habits, try to ask yourself
Is the price of Bitcoin the last thing you look at before you sleep and the first thing you check when you wake up?
Do you sometimes find yourself acting on irrational beliefs, such as feeling ‘lucky?'
Do you carry on trading in cryptocurrency after losing money in an attempt to gain it back?
Do you find it hard to identify what you are feeling when you are trading?
Have you failed to meet deadlines or expectations because of your cryptocurrency activities?
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FAQs
We know that cryptocurrency can be addictive. Thus, like any addictive substance, once our use exceeds moderation, it can harm our mental health. For example, losing vast sums of money, seemingly overnight, and feeling as though you cannot stop will inescapably impact your self-esteem, stress levels and viewpoint on life.
To cope with these issues, people may double down or turn to other addictive substances. As such, a cycle begins that can lead to addiction, depression, anxiety, burnout, and so on. The lack of sleep that comes with cryptocurrency binges can also lead to health issues like mania, paranoia, or a weakened immune system.
Cryptocurrency is dangerous due to the volatility of the markets. Investments are high-risk and uncertain, which means you must understand the risks before you start trading. While experienced traders may know this, addiction becomes more of a risk when someone who may not understand the markets starts investing, wins back a significant amount, and then loses it just as quickly. In situations like this, our brain would release unfathomable amounts of dopamine, and that makes the process highly addictive.
If you are struggling with a cryptocurrency addiction, it is essential to solicit professional help as soon as possible. At the very least, reach out to a loved one and let them know that you are worried about your trading habits. There are also practical acts you can take such as deleting, blocking, or removing devices, apps, and websites used for trading. If deemed necessary, it can also be useful to have your funds monitored by a loved one during the early stages of your rehabilitation.
Cryptocurrency dependency is skyrocketing amongst the ultra-high-net-worth individuals. In some instances, people are investing large sums in cryptocurrencies to chase the highs that come with a volatile market. In other cases, people are substituting other addictions with cryptocurrency. But in all situations, because people don’t know just how addictive cryptocurrency investing can be, the predicament is escalating swiftly.
Paracelsus Recovery provides the highest level of confidentiality. We treat one client at a time to ensure both privacy and utmost care. Amongst other measures, we will never use your real name or date of birth in company communications, and employees have to sign a strict confidentiality agreement.