A luxury rehab center in Spain has recently added services aimed at treating a relatively new type of addiction: cryptocurrency trading.
The center, called “The Balance”, is a wellness center founded in Switzerland, whose main facilities are located on the Spanish island of Mallorca, along with branches in London and Zurich.
Although he has long been treating addictions such as alcohol, drugs and behavioral health, he recently began offering services aimed at combating addiction to trading cryptocurrencies, according to a BBC report.
The February 5 report revealed that he was contacted by one of the center’s clients for a “crypto detox” after trading $200,000 a week.
The treatment involves a four-week stay that includes therapy, massages and yoga. The invoice can exceed USD 75,000.
In another part of the world, Castle Craig Hospital — a Scottish-based addiction rehab clinic treating high-adrenaline crypto traders since 2018 — has seen more than 100 clients arrive with “dangerous” cryptocurrency issues.
In Asia, Diamond Rehabilitation – a Thailand-based wellness center operating since 2019 – has also added services dedicated to rehabilitation and treatment of cryptocurrency addiction.
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 help traders overcome their addiction.
It is believed that The high and low levels of euphoria from the fast paced 24/7 trading arena have produced real demand for rehab centers to offer services for trading addicts.
An article in Family Addiction Specialist estimates, based on gambling disorder statistics, that Around 1% of cryptocurrency traders will develop a serious pathological addiction, while 10% will experience other problems beyond financial losses.
Symptoms of this addiction, according to Family Addiction Specialist, include constantly checking prices online, especially in the middle of the night.
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Investments in crypto assets are not regulated. They may not be suitable for retail investors and the entire amount invested may be lost. The services or products offered are not directed or accessible to investors in Spain.