Scottish rehab clinic offering treatment for cryptocurrency addiction
People addicted to online Bitcoin trading are able to join an intensive programme at the clinic, with techniques similar to those used to treat gambling addiction.
The centre was first established in 1988 and is a residential rehabilitation hospital, which treats people suffering from a wide range of addictions.
Treatment at Castle Craig residential rehab clinic involves intensive evidence-based therapies ranging from the 12 Steps, Cognitive Behavioural Therapy (CBT), trauma therapy and equine therapy among others.
What is Cryptocurrency Addiction?
Addiction to the trading of cryptocurrencies like Bitcoin is a behavioural addiction, like gambling addiction and compulsive online ‘day trading’ on the stockmarket.
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.
[bctt tweet=”Cryptocurrency users can get hooked by the volatile fluctuation of prices online which creates a ‘high’ when they buy or trade a winning currency.” username=”futurescot_news”]
Dr Mark Griffiths, Professor of Behavioural Addiction at Nottingham Trent University, told Castle Craig: “Addiction to cryptocurrencies is a sub-type of online day-trading addiction. I see these as akin to gambling addiction.”
Chris Burn, a gambling therapist at Castle Craig Hospital says, “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 & losses were made. It’s a classic bubble situation.”
Castle Craig were also keen to correct that they had been misquoted in early reports of this story. They are not opening a new centre for cryptocurrency addiction and offering a new “course” of treatment. However they are instead treating compulsive online betting (including cryptocurrency trading) as part of their already established gambling rehab treatment programme.
For more information on addiction to cryptocurrency trading:
- New web page about cryptocurrency addiction
- Factsheet about Addiction to Cryptocurrencies such as Bitcoin
- Short video with two therapists talking about crypto addiction
For more information please contact Rupert Wolfe Murray on email@example.com
On the cyber horizon: predictions for 2022
As 2021 draws to a close, we see a world still challenged by Covid-19, necessitating new business models, new channels and a shift (perhaps for the long term) to remote…
Jude McCorry: “Focus on cyber strategy alone is not enough”
The number of cyber attacks has been on the rise since the start of the pandemic, with both international and domestic cyber criminals taking advantage of our increased reliance on…
Not a drop wasted: digital cask filling can save the whisky industry millions
Scotland’s food and drink sector is central to the country’s economy. Bringing in around £14 billion every year, it employs more than 115,000 people and accounts for one in five manufacturing…
The value of engineering in the curriculum
If you were to look back at the greatest discoveries in science and technology over the past 30 years, you would soon notice that engineering is a key catalyst for…
Glasgow Council leads the way in digital learning
In 2017, we at Glasgow City Council took the opportunity to overhaul our digital approach to education and redefine learning, keeping in mind the core aim of reducing the impact…
Why data is the new oil
In 2006, British mathematician Clive Humby coined the phrase, “Data is the new oil”. This analogy has been proven correct as data now powers entire industries and holds tremendous value…
Global Entrepreneurship Week offers chance to reset aspirations amid new innovation landscape
With the advent of Global Entrepreneurship Week, it is an opportunity for us to celebrate the innovators, the grassroots risk takers who drive the economy, and those who invest in…
Aberdeenshire leads the way in work-based learning
There has long been debate about the distinction to be drawn between vocational and academic learning. However, in Aberdeenshire Council the focus is on what is best for our learners;…