Investing in cryptocurrencies as an addiction?

[kulkhan]

No i can not think that. Investment in cryptocurrency is not addiction. Because i Think it is a business. We know now a days huge bid big businessmen and many institutions like Bank, insurance etc are investing on cryptocurrency. Even we know some country also invested on cryptocurrency. 

We know few years ago El Salvador also taken bitcoin as Legal currency. So now cryptocurrency has been important part of world economy. So investing on cryptocurrency is not as an addiction i believe.

[albon]

There is a huge difference between passion and addiction, like when you invest in a new crypto you jump into investing on passion. But if someone has been making money working in crypto for ages, investing is like an addiction. Suppose when you can earn daily money from crypto investing and trading then surely you will become addicted to it. Personally i invest in crypto based on my pocket money. I buy when a top coin has a dip price and sell it if i get a profit in the short term. An addicted crypto user spends a lot of time and money throughout the day trading. Many times they chase losses to bring back profits. Moreover constantly borrowing from family and friends, or their habit of stealing funds. Their habits and behavior change constantly, all day long they wonder when the money will come and i will invest in crypto. They also sell their assets to raise funds.

[JISAN]

There is a huge difference between passion and addiction, like when you invest in a new crypto you jump into investing on passion. But if someone has been making money working in crypto for ages, investing is like an addiction. Suppose when you can earn daily money from crypto investing and trading then surely you will become addicted to it. Personally i invest in crypto based on my pocket money. I buy when a top coin has a dip price and sell it if i get a profit in the short term. An addicted crypto user spends a lot of time and money throughout the day trading. Many times they chase losses to bring back profits. Moreover constantly borrowing from family and friends, or their habit of stealing funds. Their habits and behavior change constantly, all day long they wonder when the money will come and i will invest in crypto. They also sell their assets to raise funds.

Money addiction is a big addiction.  So wherever we find a way to earn money we use it as an addiction.  Because our aim is to earn a lot of money somehow which will make us rich and lead a luxurious life.  This is why we become a bit more emotional while investing.  And whenever we get emotional, it is common for us to panic and get hurt. Investing in crypto is not a bad thing.  This is a good thing because crypto has a lot of potential for the future.  Those who will be more expert in crypto will have many opportunities to do good things in future

[philipma1957]

investing is never addicting.

trading can often be addicting.

I don't trade a lot but I do invest.

[rizqillah]

There is a huge difference between passion and addiction, like when you invest in a new crypto you jump into investing on passion. But if someone has been making money working in crypto for ages, investing is like an addiction. Suppose when you can earn daily money from crypto investing and trading then surely you will become addicted to it. Personally i invest in crypto based on my pocket money. I buy when a top coin has a dip price and sell it if i get a profit in the short term. An addicted crypto user spends a lot of time and money throughout the day trading. Many times they chase losses to bring back profits. Moreover constantly borrowing from family and friends, or their habit of stealing funds. Their habits and behavior change constantly, all day long they wonder when the money will come and i will invest in crypto. They also sell their assets to raise funds.

Maybe for those who have invested in crypto for more than 7 years and still survive until now, they are already in the addiction category.
I invest in crypto and do trading, maybe unknowingly I am actually addicted to the profit I make from crypto.

[albon]

There is a huge difference between passion and addiction, like when you invest in a new crypto you jump into investing on passion. But if someone has been making money working in crypto for ages, investing is like an addiction. Suppose when you can earn daily money from crypto investing and trading then surely you will become addicted to it. Personally i invest in crypto based on my pocket money. I buy when a top coin has a dip price and sell it if i get a profit in the short term. An addicted crypto user spends a lot of time and money throughout the day trading. Many times they chase losses to bring back profits. Moreover constantly borrowing from family and friends, or their habit of stealing funds. Their habits and behavior change constantly, all day long they wonder when the money will come and i will invest in crypto. They also sell their assets to raise funds.

Maybe for those who have invested in crypto for more than 7 years and still survive until now, they are already in the addiction category.
I invest in crypto and do trading, maybe unknowingly I am actually addicted to the profit I make from crypto.

I have started a business myself but i am still spending time on crypto so i am addicted to crypto. Since I've been in crypto for a few years now so i know the source of making money here so i can't walk away from it if i want to. Some people in my area are addicted to gambling and they sell assets just to gamble. That means they are completely addicted to gambling. However i want to invest in crypto but always according to my pocket funds. I am not looking for any kind of loan or asset selling investment in crypto. Because crypto doesn't promise us guaranteed profits.

[pieppiep]

There is a huge difference between passion and addiction, like when you invest in a new crypto you jump into investing on passion. But if someone has been making money working in crypto for ages, investing is like an addiction. Suppose when you can earn daily money from crypto investing and trading then surely you will become addicted to it. Personally i invest in crypto based on my pocket money. I buy when a top coin has a dip price and sell it if i get a profit in the short term. An addicted crypto user spends a lot of time and money throughout the day trading. Many times they chase losses to bring back profits. Moreover constantly borrowing from family and friends, or their habit of stealing funds. Their habits and behavior change constantly, all day long they wonder when the money will come and i will invest in crypto. They also sell their assets to raise funds.

Maybe for those who have invested in crypto for more than 7 years and still survive until now, they are already in the addiction category.
I invest in crypto and do trading, maybe unknowingly I am actually addicted to the profit I make from crypto.

Agreed, Cypto investing and trading and particularly when the process takes a long time make one develop symptoms of addiction. This is due to excitement that a person gets in making good profits within a small duration of time which helps him or her to extent trading. Like in any other vice, there is always that sense of getting quick and tangible results in terms of revenues and operating profits during the short term.

But the worst part is these signs tend to appear at the early stages of the relationship, still, it is crucial to distinguish them. However, as with trading in general, it is possible to have bad habits when trading crypto which are unbounded trading, trading when emotional, reinvestment, and negative trading feedback loops; these can be avoided by practicing good money management when trading in crypto. Other recommendations include spending shorter periods following the market and avoiding the complete exclusion of other crucial areas within a person’s life. If a person, for instance, finds that their focus is beginning to shift more to profits in cryptocurrencies, or they tend to get anxious when they have not traded for a while, it may well be time to start thinking twice about this particular investment.

[Bobcrypto]

There is a huge difference between passion and addiction, like when you invest in a new crypto you jump into investing on passion. But if someone has been making money working in crypto for ages, investing is like an addiction. Suppose when you can earn daily money from crypto investing and trading then surely you will become addicted to it. Personally i invest in crypto based on my pocket money. I buy when a top coin has a dip price and sell it if i get a profit in the short term. An addicted crypto user spends a lot of time and money throughout the day trading. Many times they chase losses to bring back profits. Moreover constantly borrowing from family and friends, or their habit of stealing funds. Their habits and behavior change constantly, all day long they wonder when the money will come and i will invest in crypto. They also sell their assets to raise funds.

Maybe for those who have invested in crypto for more than 7 years and still survive until now, they are already in the addiction category.
I invest in crypto and do trading, maybe unknowingly I am actually addicted to the profit I make from crypto.

I have started a business myself but i am still spending time on crypto so i am addicted to crypto. Since I've been in crypto for a few years now so i know the source of making money here so i can't walk away from it if i want to. Some people in my area are addicted to gambling and they sell assets just to gamble. That means they are completely addicted to gambling. However i want to invest in crypto but always according to my pocket funds. I am not looking for any kind of loan or asset selling investment in crypto. Because crypto doesn't promise us guaranteed profits.

Like you mentioned, you want to invest in crypto but with what you have in your pocket. Good, you also said that  some people in your area  are addicted to gambling, and they can sell their belongings for gambling.
Now, if you compare these two situations, you might see the  difference between you and some of the people in you area who are addicted to gambling.
On your path, you have plans to invest on crypto but with what you have in your pocket, and some people in area will sell their belongings for gambling; in my opinion, you are not addicted to crypto investment but your friends are addicted to gambling.

[nakmantu99]

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.

I invest in crypto just to add extra income because I feel investing in crypto is very profitable. If you say this is an addiction, it doesn't seem so.
because I focus more on long-term holding, by buying coins during the bearish season and holding for 2-3 years waiting for the bullish season.
I also don't really focus on daily trading, because I'm very busy in the real world.

[$crypto$]

There is a very significant difference between gambling and investing, except for trading which I think will look the same if a trader trades without having knowledge or just relying on luck. Like the case you said, maybe it will have a bad impact on trading like that because it seems like the trader doesn't know the time.

But investing in crypto is different, especially if we invest in bitcoin. For people who already really believe in bitcoin, then it is the best choice to invest in bitcoin.

I agree that investing in bitcoin is better than trading but has no expertise. because investing in bitcoin will bring profit and it is safer.
in trading we must have a strategy and also expertise in making analysis and predictions because it takes a lot of time to focus and always learn.
trading and gambling are different, because in trading relies on analysis and strategy while in gambling only relies on luck.

Investment seems simpler than trading, but that doesn't mean it's easy, it still requires knowledge. Without knowledge we are recommended to invest, because it will be very risky.

While trading the process will be more complicated, because we also have to prepare ourselves as well as possible, especially in the daily trading that we do. We must be truly ready with the knowledge, mentality and risks.

[Lucius]

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.

Thanks for your honesty, so far you are the only one who has admitted that he has a "problem" that this topic deals with. Given that large amounts of money are poured into altcoins and rather pointless projects, someone obviously has a problem if they are constantly throwing money into a bottomless hole hoping to earn something.

A good decision - because if you had only saved the earnings from sig campaigns, you could have earned quite decently, and given that we may be expecting a new bull run, that earnings could only increase.

[nakmantu99]

There is a very significant difference between gambling and investing, except for trading which I think will look the same if a trader trades without having knowledge or just relying on luck. Like the case you said, maybe it will have a bad impact on trading like that because it seems like the trader doesn't know the time.

But investing in crypto is different, especially if we invest in bitcoin. For people who already really believe in bitcoin, then it is the best choice to invest in bitcoin.

I agree that investing in bitcoin is better than trading but has no expertise. because investing in bitcoin will bring profit and it is safer.
in trading we must have a strategy and also expertise in making analysis and predictions because it takes a lot of time to focus and always learn.
trading and gambling are different, because in trading relies on analysis and strategy while in gambling only relies on luck.

Investment seems simpler than trading, but that doesn't mean it's easy, it still requires knowledge. Without knowledge we are recommended to invest, because it will be very risky.

While trading the process will be more complicated, because we also have to prepare ourselves as well as possible, especially in the daily trading that we do. We must be truly ready with the knowledge, mentality and risks.

trading is indeed more difficult than investing, because trading requires good analysis and strategy so that we can get profit from our trading. Also the ability to control emotions in trading because the crypto market is very volatile, sometimes the market is not in accordance with our predictions.
While investing also requires knowledge and experience where we have to enter and exit at the right time.

[God Of Thunder]

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?

I voted for the first one and saw that most people vote for that as well. I don't think crypto investment could be an addiction. Some people may become greedy if they get a couple of times the profit from an altcoin and then decide to try a couple more low-cap altcoins hoping that those altcoins will pump as well. But their greed will turn into a disaster as most of the new altcoins fail.

I have shared this before on multiple occasions that I have a friend who has invested in Shiba inu in the last bull run and he has 7K profit. But then he decided to invest more instead of cashing them out. But he ended up very bad because he staked his Shiba inu on some platform, meanwhile, bull run ended and he had no way to sell those tokens. I learned from his mistake and decided not to try these crap.

[yhiaali3]

Thanks for your honesty, so far you are the only one who has admitted that he has a "problem" that this topic deals with. Given that large amounts of money are poured into altcoins and rather pointless projects, someone obviously has a problem if they are constantly throwing money into a bottomless hole hoping to earn something.

A good decision - because if you had only saved the earnings from sig campaigns, you could have earned quite decently, and given that we may be expecting a new bull run, that earnings could only increase.

Thank you also for discussing this important topic and for the advice, it came at a good time to help me move forward with my decision. Maybe some people are afraid to admit or do not like to say that they have a problem and simply ignore it, but in my opinion admitting the problem is the beginning of the right path to solve the problem.

Most people have become addicted to buying these shit coins in the hope of rising and making huge profits one day, and the truth is that these projects drain the pockets of investors and they continue to lose, it is exactly like gambling where you gamble your money every time in the hope of winning and then you wake up at the end to find yourself bankrupt.

[sampoerna]

I am really confused why investing in crypto is considered as an "addiction". When we look at the meaning of "addiction" it is:

Addiction is defined as not having control over doing, taking or using something to the point where it could be harmful to you.

quoted from:
https://www.nhs.uk/live-well/addiction-support/addiction-what-is-it/

then does investing in crypto include this? if you can still control your investment, control your emotions and stability, manage your money, and have a target that you will achieve, it is not an addiction, but more of a plan and strategy in investing, the more, the better, as long as it is the amount that you can afford to lose. and this is very reasonable to do to invest.