Getting Help with Cryptocurrency Addiction

  • Trading in cryptocurrencies like Bitcoin can be addictive
  • A cryptocurrency or day-trading addiction can destroy lives
  • Specialist gambling treatment is available at Castle Craig Hospital

 

What is a cryptocurrency?

Cryptocurrencies are digital currencies that are not backed up by a central bank like the Bank of England. They are bought and sold like shares, and traded globally online (via the internet).

To find out more go to our FAQ on cryptocurrencies

Do you think you might be addicted to cryptocurrency trading?

Try this questionnaire to find out:

    • Do you feel compelled to check cryptocurrency prices all the time?

    • Do you invest more on cryptocurrencies than you can afford?

    • Do you feel the need to invest larger amounts of money to get the same feeling?

    • Have you spent more to get back money you have lost trading in cryptocurrencies?

    • Have you borrowed money from friends and family or sold anything to invest in Cryptocurrencies?

    • Have you ever wondered whether you have a problem with cryptocurrency trading

    • Have you ever experienced the Fear of Missing Out (FOMO)?

    • Has your cryptocurrency trading ever caused you any health problems, including feelings of stress or anxiety?

    • Have people ever criticised your cryptocurrency trading or said you have an addiction problem (regardless of whether or not you thought it was true)?

    • Has your cryptocurrency trading ever caused financial problems for you or your family?

    • Have you ever felt guilty about trading in cryptocurrencies?

    • Score 0 for each time you answer “never”

      Score 1 for each time you answer “sometimes”

      Score 2 for each time you answer “most of the time”

      Score 3 for each time you answer “almost always”

      If your total score is 8 or higher, you may be addicted to cryptocurrency trading.

    Help with Cryptocurrency Addiction

    There is evidence that cryptocurrency addiction can be successfully treated in the same way as other similar addictions, such as gambling. The 12 Steps and Cognitive behavioural therapy are particularly effective for these addictions.

    Treatment and support are available for people who want to treat their Crypto-Addiction:

    GamCare

    GamCare offers lots of free information, support and counselling for problem gamblers in the UK (gambling is similar to cryptocurrency or day trading addiction). GamCare runs the National Gambling Helpline (0808 8020 133) and also offers face-to-face counselling.

    Castle Craig Addiction Treatment Clinic

    Castle Craig also offers lots of free information and there is 24-Hour Help available.

    If you live in the UK or the EU, are aged 17 or over, and have complex problems related to cryptocurrency trading, you can refer yourself to Castle Craig’s Addiction Clinic for Cryptocurrency Addiction Treatment.

    Self-help tips for those addicted to Cryptocurrencies

    Do:

        • Pay your important bills first, such as your mortgage, before you invest in cryptocurrencies.

        • Spend more time your with family, or friends who don’t have an interest in cryptocurrency.

        • Deal with all your debts rather than ignoring them – visit the National Debtline for tips

    Dont:

        • View Cryptocurrency trading as the only way to make money – try to see it as a casual interest instead

        • Bottle up all your worries about your Cryptocurrency trading – talk to someone

        • Take credit cards with you when you start trading in CryptoCurrency

    For self-help advice & tips, visit the Royal College of Psychiatrists website.

    If you are affected by someone’s cryptocurrency addiction

    If you’re having problems because of another person’s cryptocurrency addiction, it is in their best interest if you are honest and open with them about it. They need to know how their behaviour is affecting you.

    Support is also available to people who are worried about someone else’s cryptocurrency addiction:

    GamCare

    Gamcare offers support and information for partners, friends and family of people who gamble compulsively. (Cryptocurrency addiction is similar to a Gambling addiction and is treated in the same way at Castle Craig).

    Real stories of recovery from Cryptocurrency addiction

    Tell your own story and post messages of support in the comments on our Cryptocurrency addiction page.

    Contact us for help

    Being addicted to Cryptocurrencies can harm your health and relationships, and leave you in debt. If you have a problem with addiction to Cryptocurrency and you want to stop, there is support and treatment available at Castle Craig Hospital.