THE BALANCE wellness center in Mallorca, Spain, a treatment center for individuals struggling with addiction, has added crypto trading addiction to its services.
According to a news report from the BBC, a testimony from a crypto investor revealed that the treatment includes therapy, massages, yoga, and bike rides. In addition, treatment costs could rise up to $75,000 and above.
THE BALANCE Luxury Rehab is a cutting-edge residential treatment center as well as a mental institution. It is intended to be a safe haven where you can find rest, relaxation, and happiness. The center focuses on treating alcohol addiction, depression, eating disorders, and drug addiction, amongst others.
THE BALANCE is not the first rehab center to include service for crypto trading addiction. For instance, Diamond Rehab in Thailand also has a treatment for crypto addicts. The center stated on its website that it treats crypto trading addiction through Motivational Interviewing, Psychodynamic Therapy, and Cognitive-behavioral therapy.
The rise in crypto rehabilitation centers can be attributed to the increasing popularity and market value of cryptocurrencies, which has resulted in more people becoming invested and potentially addicted to the market. These rehabilitation centers seek to assist individuals in overcoming their addictions and regaining control of their lives.
How Can Investors Safeguard their Funds?
The volatility of the crypto market and the risk associated with crypto trading has brought about questions on how investors can protect their investments.
As a result, some industry stakeholders and platforms have proposed several ways for how investors can protect their funds during crypto winters. Some of the methods include; diversification of investments, cold wallet storage, and staying informed about current crypto news and regulations.
In November, following the FTX implosion, Changpeng Zhao, the CEO, and co-founder of Binance shared some safety tips with crypto users. He urged investors to watch the activities of exchange-related wallets. He advised them to withdraw their funds if they perceive any suspicious transactions on the addresses.
Subsequently, Twitter’s CEO, Elon Musk also emphasized the importance of storing money in cold wallets to prevent hackers from gaining access to investors’ holdings.