Relationship of Cryptocurrencies with Gambling and Addiction

DOI: 10.18863/pgy.1127924

ABSTRACT: Cryptocurrencies has been considered as both an investment tool and a great invention that will replace money and change the world order. Although crypto currency trading has been investigated in many aspects, the psychological dimension that directly affects investors has often been ignored. Control of cryptocurrency trading is in the hands of investors rather than a central authority or institution. Thus, the value of cryptocurrencies changes with the reactions of investors. This situation suggests that psychological factors may be more prominent in cryptocurrency trading. Cryptocurrency trading has many similarities with gambling and betting, such as risk taking, getting quick returns, extreme gains or losses. Some significant components of behavioral addiction are also seen in individuals who spend so much time with cryptocurrency trading. The purpose of this article is to provide a better understanding of the psychological effects of cryptocurrency trading, which has entered our lives over a relatively brief period of time and reached millions of investors.

– Cryptocurrency trading may be associated with gambling disorder and addiction.
– Cryptocurrency trading has similar characteristics to gambling due to sudden price changes.

– Cryptocurrency trading may be associated with gambling disorder and addiction.
– Cryptocurrency trading has similar characteristics to gambling due to sudden price changes.

– Cryptocurrency trading may be associated with gambling disorder and addiction.
– Cryptocurrency trading has similar characteristics to gambling due to sudden price changes.

Methods used:

– Cryptocurrency trading may be associated with gambling disorder and addiction.
– Psychological factors play a significant role in cryptocurrency trading.

– The paper aims to understand the psychological effects of cryptocurrency trading.
– It explores the similarities between cryptocurrency trading and gambling and addiction.

– Cryptocurrency trading has similarities with gambling and betting.
– Psychological effects of cryptocurrency trading and its relationship to addiction.

– The paper explores the psychological effects of cryptocurrency trading.
– It discusses the similarities between cryptocurrency trading and gambling addiction.

In this paper , the authors provide a better understanding of the psychological effects of cryptocurrency trading, which has entered our lives over a relatively brief period of time and reached millions of investors.