The Poker and cryptocurrency have nothing to do at first, yet we find in this game are things that can be reused in its strategy of trading virtual currencies .
Even if you do not play poker , you will be able to take advantage of the experience of a former professional player converted into the virtual currency exchange.
I met Nicolas in Malta and his atypical career is very interesting. After several years playing poker, he chose to focus on digital currencies. It is following the weariness of the card game and the limits imposed by poker rooms that this expatriate Belgian turned to crypto-currencies.
This is not the only one in this case, other great players well known in the poker sphere as Sylvain Ribes aka Artplaie or Doug Polk have also put a foot in the cryptocurrency.
These poker players have seen potential in virtual currencies and have decided to abandon poker in favor of trading . Some in Malta are doing very well and have told me they win more than playing cards.
Malta has been hosting a concentration of entrepreneurs and poker players for 10 years , the small island is now in the heart of the cryptocurrency boom . The giant Binance has even decided to go settle down to open new offices. It is thanks to an interesting taxation and a government open to new technologies that Malta seduces blockchain companies and investors.
Now let’s see the main common points and interesting differences reported by Nicolas in a post on his website:
The main similarities
- The bankroll , as in poker you have a capital , it will not be all bet on the same hand or currency at the risk of losing everything.
- Then the variance , even if all your decisions are reflected, there is always a luck factor that must be taken into account, in the case of cryptocurrency can be unfavorable news for example.
- These are activities with incomplete information, whether in the card game or trading, you do not have all the indicators to make the right choice
- To finish these are all 2 ‘zero sum games’ , when you make money, another person loses somewhere in the world.
The main differences
- In cryptocurrency trading, when the market goes bad, everyone loses money or almost, it is a more community activity than poker.
- It takes less money to start poker but the potential gains are relatively lower.
- The decision time is shorter in poker, indeed when you trade you often have at least a few minutes or even weeks to make a choice.
To conclude the qualities to possess to be a good player or trader are:
- The patient : Dashing never paid.
- Agree to lose : You can not win every time.
- Have an analytical mind : that is to say, have the ability to think and to show logic and judgment in the face of decisions.
- Have a steel mind : You must not give up but stick to your goals.