Crypto-currency Gambling Addiction

gambling addiction

Gambling Addiction

For an enhanced comprehension of the facets of crypto-currency gambling, let’s first understand the basics of crypto-currency.

Crypto-currency fundamentally is digital money stored online, cosseted by algorithms. Contemporarily, the most renowned crypto-currency is Bitcoin (BTC). Ethereum (ETH) and Litecoin (LTC) are other alternatives for those who would prefer using something a little less popular.

Crypto-currency is to a large extent, unregulated by governmental bodies and isn’t controlled by a central authority, which makes it an appealing concept for people who are put off by the time it takes for monetary transactions to be validated by banks or other such governing third-parties.

A big causative aspect behind the rapidity and safety of crypto-currency dealings is the block-chain.

The ascension of crypto-currencies has led to the creation of a new variety of gamblers. These gamblers shall in all probability confront the same psychosomatic problems as those being faced by gamblers engaged in compulsive betting.

Unpredictable fluctuation in the worth of crypto-currencies is the reason behind the industry becoming increasingly attractive for gamblers.

Cryptocurrency gambling is just another form of gambling, towards which gambling addicts get attracted and end up as sufferers of compulsive gambling or pathological gambling. Such sufferers can’t control their impulse to gamble, even though they clearly see the financially unfavorable effects of this habit on themselves and on their families. Such persons shall continue gambling even if all of their financial resources are exhausted in the process.

The problem is usually associated with other mental and disposition co-morbidities such as behavior or character related disorders, material/substance use/abuse/dependence, OCD, ADHD, anxiety, despair, anxiety, bipolar disorder or even schizophrenia.

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Such behavior is associated with the want of the person, like with many other addictions, to be reserved or deceptive about it. The kith and kin of suffering individuals are more likely to be concerned with the sufferers’ gambling than being concerned with the sufferers themselves.

Following are the symptoms of being addicted to trading crypto-currencies, which someone addicted to crypto currency gambling shall exhibit:

  • Wasting a lot of time trading in cryptocurrency and speculating on a regular basis, which makes primary activities such as work and exercise lose importance and become secondary
  • Accruing debts on a regular basis
  • Being deceitful to one’s own family and close relatives/friends
  • Despair, bleakness, desperation & mood swings, feelings of hopelessness and depression
  • Acute unease resulting from apprehension
  • Imagining one-self as being ‘lucky’ whenever a profitable transaction is made

If you or someone you care for has been struggling with any of these symptoms, please feel free to reach out to Tulasi’s team of mental health professionals, using the coordinates mentioned on the website:

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