When bitcoin first turned obtainable for buy in 2009, cryptocurrencies had been a comparatively obscure area of interest product. Not any extra. Some estimates recommend 221 million folks had been buying and selling cryptocurrencies all over the world final yr, usually utilizing slick, gamified apps on their smartphones.
The Guardian enterprise reporter Rob Davies is the writer of a forthcoming guide, Jackpot: How Playing Conquered Britain, and he has been wanting into the methods wherein crypotrading apps encourage customers to commerce increasingly more. He tells Nosheen Iqbal buying and selling platforms encourage customers to share social media updates when their portfolio goes up – however not when it falls. In consequence, in impact: “No one’s ever getting the message that truly you may lose cash,” Davies says.
One former cryptotrading addict, Steven, is in restoration on the Fortress Craig residential remedy clinic in Scotland. He worries that crypto apps make it simple for younger males to get caught up high-stakes – and probably addictive – buying and selling habits, simply as he did.
Archive: Crypto.com, eToro, Coin Cloud, Euronews, BBC
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