A Switzerland – based wellness center called, “The Balance” which has its main facility located on the Spanish island of Mallorca and has other branches in London and Zurich added services aimed at treating a relatively interesting type of addiction – crypto trading to its list.
The rehabilitation center estimated that around 1% of cryptocurrency traders develop an extreme addiction to crypto trading. For a long, the center has treated addictions to alcohol, and drugs and addressed other behavioral health concerns. However, according to the reports BBC, recently it has also started offering services for combating crypto trading addiction.
The treatment involves a four–week stay costing upward of $75,000 and includes therapy, massages, and yoga. It is believed that lucrative highs and crushing lows in the crypto market 24*7 have created the need for rehabilitation centers to offer services for treating addiction.
Alongside, in another part of the world, several hospitals and rehabilitation center has always taken this step. Castle Craig Hospital, which is a Scottish – based addiction rehabilitation clinic has been treating high–adrenaline crypto traders since 2018 and has already witnessed more than 100 clients approaching them with “ dangerous” cryptocurrency problems. Furthermore, in Asia, Diamond Rehabilitation which is based out of Thailand included this service on its list in 2019.
The rehabilitation centers generally make use of Cognitive Behavioral Therapy (CBT), Psychodynamic Theory (PT), and Motivational Interviewing (MI) as part of their comprehensive and multi–dimensional approach to helping overcome this addiction.
According to the article by Family Addiction Specialist, about 1% of cryptocurrency traders are expected to develop a severe pathological addiction whereas 10% of these would experience other problems beyond financial loss. The article says the common symptom of this addiction includes checking the prices for digital assets online, particularly in the middle of the night.