People Who Are Addicted To Trading Cryptocurrencies Now Can Be Treated

One of the Scottish hospital centers which is first eve UK “crypto clinic” is treating people who are addicted to trading cryptocurrencies.

The local, free daily newspaper the Evening Standard announced that Castle Craig Hospital in Peeblesshire, the Scottish Borders, has made a course of private treatment for those it believes to be crypto addicts.

During the interview the experts mentioned that they think and worry that crypto trading can become a form of behavioural addiction.

The concocted treatment program is along these lines nearer to existing strategies for treating betting addictions, as opposed to substance mishandle programs.

Chris Burn, a gambling therapist at Castle Craig Hospital, 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.”

Castle Craig said that there are currently no figures for the number of “crypto addicts” seeking treatment.

A year ago, a Bitcoin investor it has been discovered using his home as guarantee for a $325,000 equity loan, in pursuit of medium-term profits from the cryptocurrency.

Members of the crypto community, obviously considering his investment thinking as the equivalent of gambling, noted that the move was “almost like a high school chemistry teacher deciding to start making and selling crystal meth because of changing life circumstances.”

On the other hand, in the UK there was some discussion of whether announcing your crypto-trade to be gambling might help you to escape taxes with the British tax authority HMRC, which is normally considered to be crypto-profits as subject to any income, or laws on the tax on capital gains.

 

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