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- 1 Facility started providing treatments to help those addicted to cryptocurrency.
- 2 It offers a four-week cryptocurrency rehab program for $192,000-300,000 euros.
A posh treatment facility in Spain has expanded its offerings to include therapies for treating crypto trading addiction, a relatively new type of addiction.
According to a BBC article, the facility has long treated addictions like those to narcotics, alcohol, and behavioral health but has recently started providing treatments to help those addicted to cryptocurrency trading.
According to the Feb. 5, report, one of the center’s clients contacted them to “wean off cryptocurrency” after apparently making $200,000 worth of trades per week.
A four-week stay is required for the treatment, including yoga, massages, and counseling. The cost may exceed $75,000 in total.
Starting from $192,000 for a 4-week stay
The creator and CEO of The Balance, an opulent cryptocurrency rehab facility, Abdullah Boulad, told Insider that cryptocurrency addiction is a 24/7 problem that never ends. Because of this, he continued, “we say it’s like a casino in your pocket.
According to Boulad, who established the cryptocurrency program in Switzerland around six years ago, he sees about 100 clients annually. He claimed that the majority of these business owners are men between the ages of 30 and 45.
Currently, The Balance owns 10 properties in Switzerland, the UK, and Spain. A “secure haven where you can discover healing, tranquility, rest, and happiness,” it bills itself as the “greatest luxury treatment center and mental health clinic in the world.” According to Boulad, participants in the recovery program have access to a personal manager, a chef, and 70 specialists, including medical professionals, psychiatrists, and psychotherapists.
The average cost of a four-week cryptocurrency rehab program at The Balance is between $192,000 and $320,000, or between 180,000 and 300,000 euros
$25,000 for a 28-day course of therapy
According to the general director of The Diamond, Theo de Vries, a luxury rehab facility in Phuket, Thailand, you can have an “ultra made to measure” therapy there for $25,000 for 28 days.
On top of this mountain, 15 accommodations provide a view of the Andaman Sea. De Vries says clients have access to eight 5-star Thai service providers. Along with this, five clinical psychologists, four clinical addiction counselors, one psychiatrist, a 24-hour nursing team, and four clinical support personnel.
The service, however, will be overlooked once the clients look at the hefty price they need to pay for such services. This raises the question does this rehab even work?
Working of crypto rehab
Can cryptocurrency rehab work?
Mark Griffiths, a behavioral addiction expert at Nottingham Trent University, told Insider that he views cryptocurrency trading as a subset of gambling and, as a result, views a cryptocurrency addiction as a gambling addiction. According to him, cryptocurrency addicts meet six criteria:
Salience: They are entirely focused on cryptocurrency trading, which is an essential aspect of their lives.
Conflict: Cryptocurrency trading interferes with other crucial aspects of life, such as relationships, employment, and/or education.
Symptoms of withdrawal appear when people are unable to trade cryptocurrencies.
Mood manipulation – they trade cryptocurrencies to alter their mood.
Tolerance – they have gradually increased their daily trading volume.
Relapse: If a person stops trading for a while, then pick it back up, and they immediately relapse into their former addictive cycles.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
