Most of us have a few vices, perhaps more than we care to admit. But whether your particular brand of poison is Diet Coke, Lucky Strike, or cryptocurrency, the warning signs of addiction are all the same. 

The media guffawed in amusement as last month a hospital in the UK opened up a rehab program for cryptocurrency addicts. Cashing in on a growing craze? Perhaps, but the fact remains that cryptocurrency addiction, like gambling, smoking, and excessive sugar can have a detrimental effect on your health, as well as your bank account.

According to Psychology Today, the source of your addiction is irrelevant, since the warning signs are all the same. If you think you may have a problem, check out the top six signs which indicate whether you are a cryptocurrency addict or not.

6. Excessive Importance

There’s nothing wrong with experimenting in cryptocurrency or even building a business around it. However, according to those in the know, a key factor in determining addiction is the amount of importance you place upon it. 

If checking your Ether balance is more important than picking your kids up from school, or making sure your dinner doesn’t burn, you may need to put yourself in check.

5. Withdrawal

How bad would it be to spend an entire day without checking the crypto market? What if you didn’t scour different listings to see which new ICOs are around and whether the price of Cardano has gone up?

If you find yourself climbing the walls or breaking into a nervous sweat when you can’t get online, you may be a cryptocurrency addict.

4. Disruption

Can you sit through an entire family dinner without constantly checking your smartphone? Have you had to leave a meeting to urgently make a trade? What about sinking into a deep depression during a market slump and not wanting to venture outside?

How addicted a person is to something or someone is often highlighted by the level through which it disrupts their life. If you’ve lost friends or had family feuds over Monero forks, cryptocurrency may be taking over your life.

3. Prevalence

You started off with a Coinbase account. Maybe bought and sold some tokens with Ether. Perhaps now you check a few news sites every day, maybe look at Twitter and Reddit, then Coinmarketcap. Then the next day, you do it again… just for a little bit longer.

The syndrome of “just a little bit more” is one that can’t get gamblers away from the table or alcoholics to stray from the bar. If your time spent on crypto is steadily increasing, maybe you need to cool down.

2. Risk Taking

Have you stopped putting in due diligence when you invest? Are you starting to buy into marketing hype or investing in an ICO simply on a whim? Are you taking unnecessary risks?

Risk taking is a big sign of addiction, whether it’s an inner cry for help or you’re feeding off the rush, your bank account and partner won’t thank you.

1. Denial

So, you’re not a cryptocurrency addict, right? You haven’t placed its importance above anything else, let the market dominate your mood, or disrupt a social engagement?

Don’t answer that. If you find yourself saying things like “I’m not addicted to cryptocurrency,” that should set the alarm bells ringing.

LEAVE A REPLY

Please enter your comment!
Please enter your name here