{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,10,3]],"date-time":"2026-10-03T17:17:38Z","timestamp":1791047858140,"version":"4.1.0"},"reference-count":37,"publisher":"MDPI AG","issue":"10","license":[{"start":{"date-parts":[[2023,5,16]],"date-time":"2023-05-16T00:00:00Z","timestamp":1684195200000},"content-version":"vor","delay-in-days":0,"URL":"https:\/\/creativecommons.org\/licenses\/by\/4.0\/"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IJERPH"],"abstract":"<jats:p>The constant, substantial price fluctuations of cryptocurrency allow traders to engage in highly speculative trading that closely resembles gambling. With significant financial loss associated with adverse mental health outcomes, it is important to investigate the impact that market participation has on mental health. Therefore, we conducted interviews with 17 participants who self-reported problems due to trading. Thematic analysis was conducted revealing themes: (1) factors in engagement, (2) impacts of trading and (3) harm reduction. Factors in engagement captured factors that motivated and sustained cryptocurrency trading. Impacts of trading outlined how cryptocurrency trading positively and negatively impacted participants. Harm reduction described methods participants employed to reduce mental distress from trading. Our study provides novel insights into the adverse impacts of cryptocurrency trading across multiple domains, especially mental health, relationships and finances. They also indicate the importance of further research on effective coping strategies for distress caused by financial loss from trading. Additionally, our study reveals the significant role social environments play on participants\u2019 expectations and intentions regarding cryptocurrency trading. These social networks extend beyond real-life relationship to include celebrity and influencer endorsement. This encourages investigation into the content of cryptocurrency promotions and the influence they have on individuals\u2019 decision to trade.<\/jats:p>","DOI":"10.3390\/ijerph20105833","type":"journal-article","created":{"date-parts":[[2023,5,17]],"date-time":"2023-05-17T01:58:06Z","timestamp":1684288686000},"page":"5833","update-policy":"https:\/\/doi.org\/10.3390\/mdpi_crossmark_policy","source":"Crossref","is-referenced-by-count":12,"title":["\u201cBuy High, Sell Low\u201d: A Qualitative Study of Cryptocurrency Traders Who Experience Harm"],"prefix":"10.3390","volume":"20","author":[{"given":"Benjamin","family":"Johnson","sequence":"first","affiliation":[{"name":"National Centre for Youth Substance Use Research, The University of Queensland, Brisbane, QLD 4072, Australia"},{"name":"School of Psychology, The University of Queensland, Brisbane, QLD 4072, Australia"}],"role":[{"vocabulary":"crossref","role":"author"}]},{"ORCID":"https:\/\/orcid.org\/0000-0002-3939-9499","authenticated-orcid":false,"given":"Tianze","family":"Sun","sequence":"additional","affiliation":[{"name":"National Centre for Youth Substance Use Research, The University of Queensland, Brisbane, QLD 4072, Australia"},{"name":"School of Psychology, The University of Queensland, Brisbane, QLD 4072, Australia"}],"role":[{"vocabulary":"crossref","role":"author"}]},{"ORCID":"https:\/\/orcid.org\/0000-0003-4307-423X","authenticated-orcid":false,"given":"Daniel","family":"Stjepanovi\u0107","sequence":"additional","affiliation":[{"name":"National Centre for Youth Substance Use Research, The University of Queensland, Brisbane, QLD 4072, Australia"}],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Giang","family":"Vu","sequence":"additional","affiliation":[{"name":"National Centre for Youth Substance Use Research, The University of Queensland, Brisbane, QLD 4072, Australia"},{"name":"School of Psychology, The University of Queensland, Brisbane, QLD 4072, Australia"}],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Gary C. K.","family":"Chan","sequence":"additional","affiliation":[{"name":"National Centre for Youth Substance Use Research, The University of Queensland, Brisbane, QLD 4072, Australia"}],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"1968","published-online":{"date-parts":[[2023,5,16]]},"reference":[{"key":"ref_1","unstructured":"CoinMarketCap (2022, July 14). Charts. Available online: https:\/\/coinmarketcap.com\/charts\/."},{"key":"ref_2","unstructured":"Yahoo Finance (2022, September 02). Markets. Available online: https:\/\/finance.yahoo.com\/lookup."},{"key":"ref_3","unstructured":"Binance (2022, June 01). About. Available online: https:\/\/www.binance.com\/en\/about."},{"key":"ref_4","unstructured":"Androulakis-Korakakis, P., Michalopoulos, N., and Steele, J. (2022, June 02). Are Different Types of Trading a Potential Form of Gambling? Gamban.com. Available online: https:\/\/web-cdn.gamban.com\/Public_Report_Is_trading_a_form_of_gambling.pdf."},{"key":"ref_5","doi-asserted-by":"crossref","first-page":"107504","DOI":"10.1016\/j.addbeh.2022.107504","article-title":"Cryptocurrency Trading and Its Associations with Gambling and Mental Health: A Scoping Review","volume":"136","author":"Johnson","year":"2022","journal-title":"Addict. Behav."},{"key":"ref_6","doi-asserted-by":"crossref","first-page":"107021","DOI":"10.1016\/j.addbeh.2021.107021","article-title":"Cryptocurrency trading, gambling and problem gambling","volume":"122","author":"Delfabbro","year":"2021","journal-title":"Addict. Behav."},{"key":"ref_7","doi-asserted-by":"crossref","first-page":"136","DOI":"10.1016\/j.addbeh.2019.01.005","article-title":"Preliminary findings on cryptocurrency trading among regular gamblers: A new risk for problem gambling?","volume":"92","author":"Mills","year":"2019","journal-title":"Addict. Behav."},{"key":"ref_8","doi-asserted-by":"crossref","first-page":"72","DOI":"10.1016\/j.puhe.2022.01.027","article-title":"Gambling and online trading: Emerging risks of real-time stock and cryptocurrency trading platforms","volume":"205","author":"Oksanen","year":"2022","journal-title":"Public Health"},{"key":"ref_9","doi-asserted-by":"crossref","first-page":"1227","DOI":"10.1111\/jofi.12386","article-title":"Worrying about the stock market: Evidence from hospital admissions","volume":"71","author":"Engelberg","year":"2016","journal-title":"J. Financ."},{"key":"ref_10","first-page":"55","article-title":"Victims of Fraud: Comparing Victims of White-Collar and Violent Crime","volume":"18","author":"Ganzini","year":"2001","journal-title":"Crimes Privil."},{"key":"ref_11","doi-asserted-by":"crossref","first-page":"328","DOI":"10.3389\/fpsyg.2019.00328","article-title":"Stock market exposure and anxiety in a turbulent market: Evidence from China","volume":"10","author":"Qin","year":"2019","journal-title":"Front. Psychol."},{"key":"ref_12","doi-asserted-by":"crossref","first-page":"141","DOI":"10.3905\/jai.2020.1.108","article-title":"Investigating the investment behaviors in cryptocurrency","volume":"23","author":"Xi","year":"2020","journal-title":"J. Altern. Invest."},{"key":"ref_13","doi-asserted-by":"crossref","first-page":"502295","DOI":"10.3389\/fpsyg.2020.502295","article-title":"Comparison of psychological status and investment style between bitcoin investors and share investors","volume":"11","author":"Kim","year":"2020","journal-title":"Front. Psychol."},{"key":"ref_14","doi-asserted-by":"crossref","first-page":"1090","DOI":"10.1016\/j.jhealeco.2013.09.002","article-title":"Recession depression: Mental health effects of the 2008 stock market crash","volume":"32","author":"McInerney","year":"2013","journal-title":"J. Health Econ."},{"key":"ref_15","doi-asserted-by":"crossref","first-page":"1284","DOI":"10.1007\/s11469-017-9749-8","article-title":"The \u201cwalk of shame\u201d: A qualitative study of the influences of negative stereotyping of problem gambling on gambling attitudes and behaviours","volume":"15","author":"Miller","year":"2017","journal-title":"Int. J. Ment. Health Addict."},{"key":"ref_16","doi-asserted-by":"crossref","first-page":"376","DOI":"10.3109\/16066359.2012.731116","article-title":"Gambling careers: A longitudinal, qualitative study of gambling behaviour","volume":"21","author":"Reith","year":"2013","journal-title":"Addict. Res. Theory"},{"key":"ref_17","doi-asserted-by":"crossref","first-page":"426","DOI":"10.1108\/QMR-06-2016-0053","article-title":"Sample size for qualitative research","volume":"19","author":"Boddy","year":"2016","journal-title":"Qual. Mark. Res. Int. J."},{"key":"ref_18","doi-asserted-by":"crossref","first-page":"328","DOI":"10.1080\/14780887.2020.1769238","article-title":"One size fits all? What counts as quality practice in (reflexive) thematic analysis?","volume":"18","author":"Braun","year":"2021","journal-title":"Qual. Res. Psychol."},{"key":"ref_19","doi-asserted-by":"crossref","first-page":"803","DOI":"10.1002\/hec.3062","article-title":"The Dow is killing me: Risky health behaviors and the stock market","volume":"24","author":"Cotti","year":"2015","journal-title":"Health Econ."},{"key":"ref_20","doi-asserted-by":"crossref","first-page":"47","DOI":"10.1007\/s00127-021-02109-6","article-title":"Effects of catastrophic financial loss on suicide risk: Evidence from Korean stock market crash in October 2008","volume":"57","author":"Kim","year":"2022","journal-title":"Soc. Psychiatry Psychiatr. Epidemiol."},{"key":"ref_21","doi-asserted-by":"crossref","unstructured":"Otker-Robe, I., and Podpiera, A.M. (2013). The Social Impact of Financial Crises: Evidence from the Global Financial Crisis, World Bank.","DOI":"10.1596\/1813-9450-6703"},{"key":"ref_22","unstructured":"Cassidy, J. (2002). Dot.Con: The Greatest Story Ever Sold, HarperCollins."},{"key":"ref_23","doi-asserted-by":"crossref","first-page":"593","DOI":"10.1177\/0044118X15619804","article-title":"The protective effects of social support and engagement coping strategy on the relationship between perceived discrimination and psychological distress among Chinese migrant children","volume":"50","author":"Wang","year":"2018","journal-title":"Youth Soc."},{"key":"ref_24","doi-asserted-by":"crossref","first-page":"813","DOI":"10.1037\/0003-066X.41.7.813","article-title":"Approach, avoidance, and coping with stress","volume":"41","author":"Roth","year":"1986","journal-title":"Am. Psychol."},{"key":"ref_25","doi-asserted-by":"crossref","first-page":"211","DOI":"10.1300\/J146v04n02_10","article-title":"Experiential avoidance and post-traumatic stress disorder: A cognitive mediational model of rape recovery","volume":"4","author":"Boeschen","year":"2001","journal-title":"J. Aggress. Maltreatment Trauma"},{"key":"ref_26","doi-asserted-by":"crossref","first-page":"455","DOI":"10.1037\/0021-843X.105.3.455","article-title":"Coping strategies and posttraumatic stress disorder in female victims of sexual and nonsexual assault","volume":"105","author":"Valentiner","year":"1996","journal-title":"J. Abnorm. Psychol."},{"key":"ref_27","doi-asserted-by":"crossref","first-page":"219","DOI":"10.1080\/01490400252900167","article-title":"Leisure as a resource in transcending negative life events: Self-protection, self-restoration, and personal transformation","volume":"24","author":"Kleiber","year":"2002","journal-title":"Leis. Sci."},{"key":"ref_28","doi-asserted-by":"crossref","first-page":"738","DOI":"10.1037\/a0024865","article-title":"Gaming machine addiction: The role of avoidance, accessibility and social support","volume":"25","author":"Thomas","year":"2011","journal-title":"Psychol. Addict. Behav."},{"key":"ref_29","doi-asserted-by":"crossref","first-page":"11","DOI":"10.1023\/B:BUSI.0000033104.28219.92","article-title":"A comparison of socially responsible and conventional investors","volume":"52","author":"McLachlan","year":"2004","journal-title":"J. Bus. Ethics"},{"key":"ref_30","doi-asserted-by":"crossref","first-page":"6","DOI":"10.1207\/s15427579jpfm0601_2","article-title":"Individual investor preferences: A segmentation analysis","volume":"6","author":"Soutar","year":"2005","journal-title":"J. Behav. Financ."},{"key":"ref_31","doi-asserted-by":"crossref","first-page":"63","DOI":"10.2469\/faj.v50.n4.63","article-title":"Factors influencing individual investor behavior","volume":"50","author":"Nagy","year":"1994","journal-title":"Financ. Anal. J."},{"key":"ref_32","doi-asserted-by":"crossref","first-page":"799","DOI":"10.1007\/s11205-016-1309-2","article-title":"Financial literacy, portfolio choice and financial well-being","volume":"132","author":"Chu","year":"2017","journal-title":"Soc. Indic. Res."},{"key":"ref_33","doi-asserted-by":"crossref","first-page":"429","DOI":"10.4103\/1995-7645.354524","article-title":"Imminence: Cryptocurrency addiction and public health","volume":"15","author":"Mehmet","year":"2022","journal-title":"Asian Pac. J. Trop. Med."},{"key":"ref_34","doi-asserted-by":"crossref","unstructured":"American Psychiatric Association (2013). Diagnostic and Statistical Manual of Mental Disorders: DSM-5, American Psychiatric Association.","DOI":"10.1176\/appi.books.9780890425596"},{"key":"ref_35","doi-asserted-by":"crossref","first-page":"8","DOI":"10.1016\/j.cobeha.2019.09.004","article-title":"Stress and gambling","volume":"31","author":"Buchanan","year":"2020","journal-title":"Curr. Opin. Behav. Sci."},{"key":"ref_36","doi-asserted-by":"crossref","first-page":"179","DOI":"10.1080\/14459790802140007","article-title":"Withdrawal and Tolerance Phenomenon in Problem Gambling","volume":"8","author":"Blaszczynski","year":"2008","journal-title":"Int. Gambl. Stud."},{"key":"ref_37","unstructured":"Thomas, A., and Moore, S. (2001, January 22). Do Women Gamble for the Same Reasons as Men. Culture and the Gambling Phenomenon. Proceedings of the 11th Annual Conference of the National Association for Gambling Studies, Sydney, Australia. Available online: https:\/\/researchbank.swinburne.edu.au\/file\/426924d7-41e7-477d-a1c4-b5129938d96f\/1\/PDF%20%28Published%20version%29.pdf."}],"container-title":["International Journal of Environmental Research and Public Health"],"original-title":[],"language":"en","link":[{"URL":"https:\/\/www.mdpi.com\/1660-4601\/20\/10\/5833\/pdf","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2025,10,10]],"date-time":"2025-10-10T19:35:59Z","timestamp":1760124959000},"score":1,"resource":{"primary":{"URL":"https:\/\/www.mdpi.com\/1660-4601\/20\/10\/5833"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2023,5,16]]},"references-count":37,"journal-issue":{"issue":"10","published-online":{"date-parts":[[2023,5]]}},"alternative-id":["ijerph20105833"],"URL":"https:\/\/doi.org\/10.3390\/ijerph20105833","relation":{},"ISSN":["1660-4601"],"issn-type":[{"value":"1660-4601","type":"electronic"}],"subject":[],"published":{"date-parts":[[2023,5,16]]}}}