With the rise of cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), more and more people are investing and trading in this market. However, with the high volatility of digital assets and the excitement of making a profit, some people have become addicted to the industry.
Rehabilitation centers ‘combating crypto addiction’ emerge
Along this line are emerging luxury rehabilitation centers serving people struggling with ‘crypto addiction’ around the world, the BBC reported on Feb.
Specifically, these centers typically offer programs to treat alcohol, drugs, and other addictions such as eating disorders. Most centers offer therapy by certified mental health counselors who have experience treating a variety of addictions.
Interestingly, centers have received increased requests over the past two years to handle litigation related to digital assets. It is worth noting that significant price fluctuations characterize the market throughout the period.
For example, The Balance, a luxury rehabilitation center in several European cities, including London, offers specialized services in the treatment of crypto addiction. The report shows that the resort services cost around $75,000, which covers therapy, massage, yoga, and bike rides.
Elsewhere, Switzerland-based Paracelsus Recovery has been among the exemplary rehabilitation centers offering crypto addiction treatments. Center treatment ranges from four to six weeks, with one patient reportedly paying $104,000 per week. The center’s treatment also includes blood tests, personalized diet plans, yoga, acupuncture and medication as needed.
Concerns about high wages
Although addiction experts remain skeptical about the high cost of crypto addiction treatment, treatment for the condition is similar to that of other addictions. Therapy includes interventions such as medications and healthy replacement activities.
“They make money from helpless people. “Whether you’re addicted to crypto trading, sports betting, or playing the lottery, your symptoms and treatment will be largely the same,” said Lia Nower, director of the Rutgers School of Social Work’s Center for Gambling Research.
In the treatment of addiction, experts have suggested starting with abstinence and managing the withdrawal symptoms that can lead to anxiety, irritability, and insomnia, then offering healthier financial investment options.
However, some rehab centers have rejected the idea that crypto addiction can be treated similarly to other conditions such as gambling.
“While crypto trading carries a legitimate air, gambling is more talked about as potentially problematic,” said Jan Geber, CEO of Paracelsus Recovery.
In particular, the unregulated nature of digital assets makes it difficult for addicts to seek help.