A luxury rehab center in Spain recently added services aimed at treating a relatively new type of addiction – cryptocurrency trading.
The centre, called “The Balance,” is a Swiss-founded wellness center, with its main facility located on the Spanish island of Mallorca along with branches in London and Zurich.
Although it has long treated addictions such as alcohol, drugs, and behavioral health, it has recently started providing services aimed at combating cryptocurrency trading addiction, according to a report from the BBC.
The February 5 report revealed that one of the center’s clients had reached out to him so he could “get rid of cryptocurrency” after pumping out $200,000 worth of trades each week.
The treatment includes a four-week stay that includes therapy, massage, and yoga. The bill can be over $75,000.
In another part of the world, Castle Craig Hospital — an addiction rehabilitation clinic based in Scotland that has been treating high-adrenaline cryptocurrency traders since 2018 — has seen more than 100 clients with “serious” cryptocurrency issues.
Craig Castle Rehabilitation Facility. Source: Craig Castle.
In Asia, Diamond Reareness – a health center in Thailand that has been operating since 2019 – has added services dedicated to rehabilitation and treatment of cryptocurrency addiction.
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The organization said it approaches rehabilitation through the use of cognitive behavioral therapy (CBT), motivational interviewing (MI), and psychodynamic theory (PT), as part of its comprehensive, multi-stage approach to helping traders overcome their addictions.
Related: How to Manage Stress and Depression in the Crypto Winter
It is believed that the exhilarating highs and crushing lows of the 24/7 cryptocurrency trading arena has brought real demand for rehab centers to provide services for trading addicts.
An article by a family addiction specialist estimates based on gambling disorder statistics that around 1% of cryptocurrency traders will develop a severe pathological addiction, while 10% will experience problems other than financial loss.
The 24/7 nature of cryptocurrency trading has caused many to constantly check price charts. Source: Family Addiction Specialist.
Symptoms of this addiction, according to a family addiction specialist, include constantly checking prices online—especially in the middle of the night.