What makes cryptocurrencies addictive? Why are we constantly checking our phones every waking moment? Let’s dive in.
To understand why crypto is addictive, we first must understand what addiction is itself.
“There is evidence that addictive behaviors share key neurobiological features: They intensely involve brain pathways of reward and reinforcement, which involve the neurotransmitter dopamine. And, in keeping with other highly motivated states, they lead to the pruning of synapses in the prefrontal cortex, home of the brain’s highest functions, so that attention is highly focused on cues related to the target substance or activity. It is important to know that such brain changes are reversible after the substance use or behavior is discontinued.” – Source
One Rip off the Hopium Bong and You’re Hooked.
The primary reason crypto is so addictive is because of Dopamine, which is a neurotransmitter. In a nutshell, it’s a chemical messenger in your brain which helps you feel pleasure. ELI3; It’s a cookie from the cookie jar – cookie good, you happy.
I vividly remember the daily rush of dopamine back in the late 2017 bullrun. I’ve never smoked crack, but I imagine crypto addiction is up there in the levels of addiction. Maybe… this event is perhaps one of the reasons why I’m still obsessively checking crypto.
You might not directly realize you’re addicted to crypto, that’s why I think it’s important to write about it. You should constantly challenge your own ideas & habits.
I challenge you to go 7 full days without checking the price of any cryptocurrencies. Hell, try 3 days – it will be difficult, regardless. Good traders manage risk, not money. If you’re overly worried about one of your investments, you’re likely not properly managing your risk or positioned incorrectly.
Some might suggest investing in crypto “safe havens” such as Bitcoin and Ethereum will ease your addiction in the long term.