The Balance (rehab center)

2023: Start of crypto-dependence treatment

In early February 2023, it became known that due to the high volatility of digital assets and the desire to make a profit, some people became dependent on this sector. In this regard, rehabilitation centers are emerging around the world, offering services to people struggling with crypto addiction.

Founded in Zurich and with locations in London and Mallorca, for example, European rehabilitation centre The Balance describes itself as a safe space to find health and self-actualise. On the landing page of the cetra, photos of the villa on the seashore, the spa and rave reviews of past customers are posted. The center offers programs to treat anxiety, burnout, depression, PTSD and eating disorders. The documents indicate that the services of the institution cost about $75 thousand, including therapy, massage, yoga and cycling.

Crypto dependence began to be treated in premium rehabilitation centers in Europe

Elsewhere, among rehabilitation centers in Europe offering crypto-addiction treatment was the Swiss rehabilitation center Paracelsus Recovery. Treatment at the center lasts from four to six weeks, with one patient reportedly paying $104,000 a week. Treatment at the center also includes blood tests, individual diet plans, yoga, acupuncture and, if necessary, medications.

According to Anna Lembke, professor of psychiatry at Stanford University, crypto-dependencies are attributed to the high cost of treating the disease, therapy for this condition is similar to therapy for other addictions. It includes interventions such as therapy, medications and healthy replacement activities. When treating addiction, Lembke recommended starting with abstinence and managing withdrawal symptoms, which can lead to anxiety, irritability and insomnia, and then offering healthier options for financial investment.

The centres argue that while crypto-addiction has strong parallels to gambling, it is also more addictive because the disease is more exciting because it is unstable and deals can happen around the clock. Crypto addiction treatment is only a nascent business, so it does not yet require special certificates. Most of the GPs and rehab managers interviewed by BBC journalists describe themselves as certified mental health counsellors and addictions ranging from alcoholism to drug addiction, gambling and gambling. Seeking help is also less common because trading in cryptocurrencies is largely unregulated. In contrast, some countries require gambling platforms and casinos to actively identify and exclude problem gamblers or provide information and tools about how they should deal with signs of addiction.^[1]

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