Research: Dependence on crypto-trading and gambling have common signs

Researchers at Rutgers University have discovered a link between the excessive passion for cryptocurrency trading and gambling addiction.

According to researchers, "avid gamblers" can perceive cryptocurrency trading as an additional activity associated with high risk. The study involved 876 adults who made bets in gambling at least once a month during the last year. The researchers called them "avid players." It was found that over 50% of these players also traded a cryptocurrency during the same 12-month period.

According to the report, there is also a relationship between trading high-risk stocks and participating in cryptocurrency transactions. Lead author Devin Mills, whose initial goal was to find out how often players use cryptocurrency as a payment method, said:

"For some people, trading cryptocurrency is seen as an investment opportunity. But there is an alarming proportion of people who are 'gambling' on these cryptocurrency markets as they would gamble on horses or sports or slots. And it has the potential to get them into significant trouble."

According to researchers, the signs of gambling addiction or excessive enthusiasm for cryptocurrency trading may include:

• Making or thinking about cryptocurrency transactions affecting a person's ability to work, communicate or engage in other activities.
• Providing inaccurate information to friends and family about the scope of activities.
• Mood swings, anxiety or depression.
• Unrealistic confidence in the "victory over the system."
• Subsequent debt or financial problems.

For those who believe that their cryptocurrency trading becomes a problem, specialized institutions have begun to appear that provide support in the fight against addiction. One of these centers opened last year in Scotland.

SOURCE