Redditor on brink of losing his young family with a crippling addiction to crypto trading - Coin Amazon
Mere gambling with the cryptocurrency of a Redditor turned into a full-blown addiction to crypto trading which culminated a few weeks ago
There was a post on Reddit under the username “Leather_Opposite2135,”. Where the person was confessing an incident that occurred in his life due to his uncontrolled obsession with crypto trading.
He claims that he was on the brink of losing his family after piling up a debt of $180,000 from his rampant crypto trading habits.
Back in 2021, he casually started crypto trading which later turned into an obsession and became an addiction. This addiction left him knee-deep in debt for which his wife kicked him out of the house.
“It started just dabbling,” said Leather. “It’s a tech space so I found it very interesting. Joined a bunch of online spaces (discord) and eventually watched a few people trading BTC and immediately got hooked.”
According to him, the damage done was exponential. At that time he was running a software business so he used funds from that business for trading cryptocurrency. During the first year, he lost $50,000.
After a year his addiction got worse and he took crypto trading to the point where he would get money from various other sources only to fund his addiction; like getting loans and more.
“I’m sure you’ve heard it before, but I found all sorts of ways to fund it, including getting personal loans, credit cards, lying about all of it.”
He was consuming most of his time trading cryptocurrency and raising the debt as he said “I was gambling on my phone when I went to the bathroom when the kids were sleeping, on my computer when not busy with work.”
Exactly about three weeks ago he ultimately ended the addiction for good, initially. It was hard for him to break the addiction but then he finally did. As a punishment, his wife threatened to take it all away from him. Then he cleared out his debt of $180,000 and came out clean to her.
“Emotionally, I was all over the place for the first 2 weeks. Cold turkey from something I spent 10 hours a day on (minimum) […] All the while the little voice telling me to go looks at charts on the shoulder.”
He also started to get addiction counseling and banned himself from crypto. All of his crypto accounts are now under the control of his wife.
The post was later removed from Reddit but it embark upon a concerning issue. The problem is real even several counselors around the world now give counseling for crypto addiction as well in addition to alcohol or substance abuse counseling.