Why is crypto so addicting?

As with a drug or alcohol addiction, the individual seeks out more and more of this dopamine rush as the brain becomes less able to receive it from other life pleasures. The sense of euphoria triggered by cryptocurrency wins are what makes crypto trading and investing so addictive.

Is trading cryptocurrency a gambler?

Experts regard the phenomenon as a form of gambling addiction, noting similarities with Wall Street traders whose investments have spun out of control. Castle Craig, a Scottish rehab clinic, describes crypto addiction as a “modern day epidemic”.

Do people invest in cryptocurrency?

A growing number of Americans are investing in cryptocurrencies like Bitcoin and Ethereum. These investments are volatile ones that carry more risk than many other more established asset classes — but they have the potential to pay off as well.

Can you lose money with Crypto?

Cryptocurrencies are notorious for being volatile. And where there is volatility there is a huge opportunity to make and lose money. If you’re investing based on what a celebrity is tweeting or what a self-declared expert tells you to do, then there’s a good chance that it will cost you.

How do I stop being obsessed with Crypto?

Steps to reduce your cryptocurrency addiction – helping yourself

1. Limit the amount of money you spend on cryptocurrencies.
2. Reduce the amount of time and days that you trade in cryptocurrencies.
3. Don’t view cryptocurrency trading as your primary way of making money.
4. Spend your time on other activities.

How safe is crypto currency?

Crypto held on an exchange or in a wallet is not FDIC-insured like money in the bank. Make sure you trade and hold your crypto on a platform that offers robust security measures — including keeping a significant amount of holdings in its own cold storage and two-factor authentication for users.