GamCare is a leading provider of information, advice, support and free referrals for the prevention and resolution of gambling problems in the UK. To the surprise of many, GamCare recently equated cryptocurrency trading with gambling activities, Trader’s need for self-exclusion. The reason is that the first symptoms similar to gambling addiction appear and have a negative impact.
Crypto Trading and Gambling: Similarities According to GamCare
Although the cryptocurrency market emerged relatively recently, it has already experienced countless ups and downs. It was literally unimaginable for cryptocurrency traders and miners to lose or profit from fluctuations in cryptocurrency rates. Cryptocurrency trading is considered to be a particularly risky activity compared to regular stock trading.have tools that can Block cryptocurrency transactions such as Ganban It can have a positive impact on both traders and cryptocurrency platforms. The cryptocurrency market is highly volatile and it is often impossible to predict which direction a coin’s price will go.
GamCare believes that the addiction of traders can be even stronger than that of poker players. This is especially true, for example, for lovers who gamble on the growth of a particular coin to get an adrenaline rush.
Crypto creates the misconception that coins are a high-tech means of payment. This gives constant confidence in the market growth and turns investors into gamblers.
In pursuit of profit, cryptocurrency traders must always take risks. During the day, the price of some small coins rises or falls momentarily, allowing him to make many trades. The conditions under which a trader (or gambler in this context) must always participate in the “game” is similar to gambling in his online casino. Based on this and many other aspects, GamCare made this decision and added cryptocurrency trading to its number of gambling activities.
How can GamStop’s experience apply to cryptocurrency trading?
GamStop and GamCare have the same goal, but differ significantly in that the former has yet to extend its activities into cryptocurrency trading. But experts and analysts say that could happen soon. The reason for this is the great experience used by online casinos, bookmakers, etc. and the availability of the necessary tools that can be applied in the field of cryptocurrency trading.
One obvious tool is a self-exclusion period that traders can set for themselves. as in the case of Online casinos other than GamStop When accepting cryptocurrencies removes customers from playing casino games, cryptocurrency traders are forced to take a temporary break, be realistic, and analyze everything without making impulsive decisions. You can use software that Most cryptocurrency market participants understand that they actually lose money. However, they still make ultra-risky investment decisions and miss the moment when potential losses become fatal.
Also, the most important advantage of the GamStop program is the voluntary nature and company policy of independent choice. This also applies to cryptocurrency trading. Traders who feel they need a break can make this decision voluntarily and no one will force them.
Advantages of cryptocurrency trading self-exclusion software like GamStop
The GamStop program has demonstrated quality and performance since its initial launch in April 2018. Many gamblers were skeptical about this, but still understood the importance of controlling their gambling activities and combating addictions to gambling, gambling and the like. As with gambling platforms, the potential for self-exclusion programs like GamStop and cryptocurrency platforms to work together could be harnessed to great benefit for all involved in high-risk cryptocurrency trading operations. .
regulated environment
Like gambling, cryptocurrency trading is also known for various fraudulent and bogus platforms. Using a self-exclusion program creates a safe environment and guarantees trader protection in all aspects. There is nothing wrong with trading cryptocurrencies if you approach the matter rationally and wisely.but not everyone follows responsible gambling rules And we are honest in this business.
Take a break from cryptocurrency trading
The foregoing are an important part of any activity. Cryptocurrency trading is no exception. Successful traders rely not on luck, but on their own calculations, which can only be obtained in a calm and “quiet” environment.
Learn about possible adverse effects
Cryptocurrency trading is a rather special and difficult field. But even then, it’s hard to overcome addiction at some point. Self-exclusion programs come with extensive knowledge bases, advisors, phone support, and other valuable educational features. This helps traders understand what addiction is and what downsides it can bring to their lives.
Great budgeting tool
Many traders are skilled in money management and budgeting. But this was before they became addicts, and these acts became systemic, leading to real money loss to a greater extent. A self-exclusion program helps you manage your money-related activities by allowing you to set budget limits.
Conclusion
According to Gumcare, Cryptocurrency trading is like a gambling addiction, especially for people who trade cryptocurrencies every day, lose a lot of money and start chasing losses. The gambling platform’s self-exclusion program, which is well known to many, has long demonstrated its effectiveness and usefulness. GamCare was the first to announce the expansion of its range of self-exclusion programs. Only time will tell how effective it is and whether other companies will use it like GamStop.