Scottish hospital offers treatment programme for cryptocurrency addicts

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

Castle Craig Hospital in Peeblesshire, which also been offering 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 over the last few years, there are no concrete figures on the number of people suffering from addiction according to Castle Craig.

Chris Burn, who is 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 the 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 wrote in the announcement: “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.”

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