Do you think poker players started purchasing Bitcoin because they are financial wizards who can see into the future?
Well, not exactly.
The thing that really justifies this behavior is that online poker players are basically using some common terms which are related both to poker and crypto. That is why they can have a better understanding and a more profitable approach when it comes to investing in crypto. Crypto investments have strategies as well, similar to the ones poker players use.
Today we will try to explain this “new passion” that online players have for crypto and at the same time we will try to make poker players understand how they can take maximum advantage of the crypto world by using their poker knowledge.
So let’s begin our journey!
WHAT POKER SKILLS CAN HELP YOU IN THE CRYPTO SPACE?
Well, there are quite a few poker skills that you can use while taking decisions in the crypto space. At the same time, you can use all your poker knowledge and of course, the mental setup that you managed to achieve after years of training at the tables for taking +EV decisions.
Below are just a few poker skills that can help you master the “crypto art” as well:
- Knowing what Expected Value is – Buying the right cryptocurrencies takes a high level of understanding. Factors in decision-making include understanding the market cap of a given asset, the volume of trading, and the potential for future growth. Knowing when you should raise (buy more) or fold (cash out) are skills that will keep your investments growing.
- Getting used to Bankroll Management – Knowing your own limits and what you should invest with will prevent you from experiencing losses detrimental to your lifestyle. Crypto investing has the ability to create instant millionaires, but it also has the potential to zero out at any moment, taking all of your earnings with it.
- Poker players are comfortable with risk — Bitcoin takes users through many highs and lows. Rounders are used to dealing with this variance.
- Understanding how people’s tendencies influence the market: – when everyone is doing one thing, there is money to be made doing the opposite. As a poker player, you are aware that being a sheep doesn’t pay. The same principle applies to cryptocurrency. Seek out opportunities that others don’t believe in or are blind to.
WHAT DOES THE CRYPTO SPACE BRING NEW TO YOUR “POKER ROUTINE”?
- Stakes never change, even with larger investments – When you treat Bitcoin like poker, it doesn’t matter if you bet with $100, or $100,000 your ROI chances are always the same. The level of complexity doesn’t increase just because you put more money on the table. Inversely, if you only want to invest a small amount of money, your potential for winning big is just as great.
- No reason to play every day – Crypto doesn’t require 24-hour vigilance. When you are playing poker, your attention must always be dialed in 100%. One slip-up could cost you everything. This is not the case with crypto. The markets operate 24 hours a day but after the initial learning curve, you will understand when to hold and when to sell.
All this being said, we encourage everyone to fight for their dream. Remember only that you have to be a hardworking poker player for being able to wisely invest in another kind of area.
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