GamCare is the leading provider of information, advice, support, and free referrals to prevent and resolve gambling problems in the UK. To the surprise of many, recently, GamCare equated crypto trading with gambling activities and stressed the necessity of self-exclusion for traders. The reason for this is the appearance of the first signs similar to gambling addiction, which has negative consequences.
Cryptocurrency Trading and Gambling: Similarities According To GamCare
The crypto market appeared relatively recently but has already experienced an uncountable number of ups and downs. The crypto traders and miners lost and earned on fluctuations in cryptocurrency rates literally staggered the imagination. Cryptocurrency trading, compared to ordinary stock trading, is considered a particularly risky activity. Having tools that can block crypto trading such as Gamban may have a positive influence on both traders and cryptocurrency platforms. The crypto market is highly volatile, and it is often impossible to predict in which direction the price of coins will turn.
GamCare believes that the addiction of traders can be even stronger than that of poker players, for example, especially if we are talking about a lover who gets a dose of adrenaline by betting on the growth of certain coins.
Crypto creates the misconception that coins have a reputation for being high-tech means of payment. This provides constant faith in the growth of quotes and turns investors into gamblers.
In pursuit of profit, a crypto trader must constantly take risks. On the day, he can make many transactions as the price of some small coins rises or collapses at one moment. The conditions under which a trader (or, in this context, a gambler) must constantly be in the “game” are similar to gambling in an online casino. Based on this and a number of other aspects, GamCare made this decision and added crypto trading to the number of gambling activities.
How GamStop Experience Can Be Applied For Crypto Trading?
GamStop and GamCare have the same goals, but so far different in that the former does not yet extend its activities to crypto trading. But according to experts and analysts, it may soon do so. The reason for this is the great experience and the availability of the necessary tools used for online casinos, bookmakers, etc., which can be applied in the field of crypto…
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