Investing in cryptocurrencies as an addiction?

[Lucius]

Considering the incredible number of altcoins and the growing popularity of investing in cryptocurrencies especially among the younger population, I wonder if we can already talk about the fact that there is a certain addiction to this way of investing? We all know that gambling addiction can have terrible effects on the people who engage in it, but also indirectly on all the people who are close to them - can we therefore conclude that in some way gambling with cryptocurrencies can cause the same effects?

You can answer the question in the poll - and it would be good if you were honest because everything is anonymous anyway.

[_act_]

Let me talk from my own personal experience. I am not addicted to investing on altcoins. I prefer to wait for the price to dip and I should buy. But the coins are very volatile which makes me still feel disappointed at times as the coin may disappoint after I invested. But normally I do not see this as an addiction.

What I see as an addiction for me is trading. Addiction in trading is very similar to gambling addiction. If you make money, you will want to make more money. Also if you lose money you will want to still trade. And trading is also very stressful but you will find yourself doing it.

[bitcoin-shark]

For me, investing in the world of crypto/altcoins is not an addiction is just one of the many ways to earn, there is no addiction, i don't do it on impulse

[Rruchi man]

Addiction to investing in cryptocurrency can be likened to wanting to over diversify your portfolio and people who are more prone to this are people who do not understand the risk of over diversification. If you must diversify your portfolio, which is something that some people do not even advise, I believe that over doing it is a danger.

If you over diversify your portfolio because you have the money to do so, over time you would learn the lesson as to why it is dangerous. For this reason, I believe that someone cannot become addicted to investing in cryptocurrencies for too long because somewhere along the line they always get to learn the lesson.

[Gposas]

Considering the incredible number of altcoins and the growing popularity of investing in cryptocurrencies especially among the younger population, I wonder if we can already talk about the fact that there is a certain addiction to this way of investing? We all know that gambling addiction can have terrible effects on the people who engage in it, but also indirectly on all the people who are close to them - can we therefore conclude that in some way gambling with cryptocurrencies can cause the same effects?

You can answer the question in the poll - and it would be good if you were honest because everything is anonymous anyway.

I don't think addiction is a language that could be used for traders, traders don't get addicted rather they derive fun and profit or loss from any coin they venture into trading.
Or else on occasion of those who place funds on these tokens either for long or short term investment, and on the other hand I don't think any individual or investor will continue investing on any token if he is not getting profit in return.
So I guess if the investor is addicted, then he is addicted to profit making but if he gets more losses than gain and the investor is still addicted, he should restrategize and think twice or continue wasting funds.

[Celph]

With everybody wanting to live large and maximize alot of profits,people take investing in cryptocurrencies as an addiction.Well,i do not find this in some kinda way wrong though, as far as wise investments decisions are being made,i doubt if it's really wrong.Although putting all your eggs in one basket is risky,it's very wise not to makw investment choices out of greed to want more then go ahead investing alot of money always,losses could be aquired.losses are inevitable.

[debra]

I think there is no addiction in crypto investment. Most people will invest only in certain crypto coins. We must do research or analysis to choose the right options. We don't invest in a careless way. If we do this, I think we aren't addiction because we know how to invest in the right way. We also realize that not all crypto coins are good, we still use our brain. In addiction, people sometimes became unaware, they aren't realistic in doing it.

[electronicash]

could it be an indication of addicted crypto investor if this person invest to a token and then despite its price gradually declining since the day he bought he didn't?
almost too late already that its price fell to $0.47 from $70+ ATH. i think i knew one man from BTT that i have chat once in a while. he regretted for a bit but once again he is hopeful to see price going up again even without new developments.

not sure if a gambling addict will also be addicted to investing in crypto but i see a gambler wants a quicker profit making scheme like pump and dump.

[rdluffy]

To be honest I think some people use altcoins, specially memecoins, just like gambling, because they buy something and hopes to see a big pump
I spend a lot of my time in cryptos, foruns and doing research about projects, airdrops etc, but I don't know if I'm addicted to crypto or not 
Haha, I consider myself an enthusiast 

I'm curious to see your answer too Lucius

[Tribalchief]

As humans, do we have to be addicted to brushing our teeth in the morning, or we should do it because of its importance?.
I am not sure if investing in Crypto (or maybe every project) is an addiction. It's just someone's way of trying not to miss every given opportunity, which is also a risk though. I personally, I invest to some extent, but I can't really say that I'm addicted to it.

I barely go for new projects because I'm not certain of it's outcome. But if it were to be airdrops, then count me in. But that still doesn't make it an addiction. Every opportunity seems too precious in the crypto space, since most projects don't give a 100% success guarantee at first.

[yhiaali3]

I chose the third option: "I think I'm addicted and I have a problem, but I don't know how to stop."

I really feel that I have become addicted to investing, especially in new coins, where I say every time that I will stop, but I don't feel myself until I buy again.

It is good that I do not invest large amounts and I only buy with the campaign money that I get, but this has become very annoying for me because every time I buy a new coin and hope that it will go up, but unfortunately they are all constantly falling.

It is true that the loss is not big because I usually withdraw from the deal at a certain limit, but this has become very annoying to me and I decided to stop this time.

[bitterguy28]

For me, investing in the world of crypto/altcoins is not an addiction is just one of the many ways to earn, there is no addiction, i don't do it on impulse

i think that is what differentiates addiction to trading or investing

people who invest and trade do it with expertise using their well earned knowledge and skills they do not invest or trade with emotions or at least a good trader would not an addiction makes you want to do something even if it is prohibited because of the possible damage to yourself usually addictions give out short term pleasures but will trading bring you the same pleasure if you do not even earn anything?

i can consider checking the market as an addiction because many people literally do not care about life anymore and just keep checking the market movements

[TomPluz]

I think only a fool who got many millions of money in the bank can be addicted to investing with cryptocurrency. Even Bitcoin holders can not be categorized as addicts but believers and maybe waiters. Now, there is nothing wrong per se if one will be addicted in this industry, the only problem is blindly investing with anything that comes to the road...and if one has this habit then we don't have a shortage of projects to invest with as there are many memecoins born everyday. Still, I wish I am this kind of an addict that is assuming I have the money to use for my addiction. The problem is I don't have the money even if I would like to be an addict.

[Azharul]

Let me talk from my own personal experience. I am not addicted to investing on altcoins. I prefer to wait for the price to dip and I should buy. But the coins are very volatile which makes me still feel disappointed at times as the coin may disappoint after I invested. But normally I do not see this as an addiction.

What I see as an addiction for me is trading. Addiction in trading is very similar to gambling addiction. If you make money, you will want to make more money. Also if you lose money you will want to still trade. And trading is also very stressful but you will find yourself doing it.

I think that you also create a best comment in this post. So i am also agree with your comment. We also know that investment is one of the best profitable site in cryptocurrency world. So i believe that it will be a significant payment source in cryptocurrency market. So i didn’t think investment will be addiction for me. We Know that altcoin or bitcoin will best investment sites for us. But if we follow in gambling site, we know that gambling will depending on our luck. So i think that gambling site could be addicts for us.

[PrivateKayla]

I'm not addicted and don't feel the need to keep on checking if there are new coins.

It IS possible to get addicted to crypto trading or investing. You're addicted if you have the compulsive need to invest or trade despite its effects on your finances and relationships, and you feel like you're unable to go with your daily routine unless you buy or sell. (I have a background in Psychology)

So far from the replies I've read, everyone seems to have their heads straight.