Playing poker with crypto is seamless. You transfer your funds from your wallet to the poker site, and they move any winnings right back, no questions asked.
But how does it differ from playing in person or online with fiat currencies, and what should you know before playing?
Play on Only Secure Sites
There won’t be any fun if scammers cart away your financial information or your funds themselves. So, the first tip for a fantastic experience when playing poker with crypto is to select a secure and trusted site that guarantees your security and anonymity. Opt for crypto casinos like this one that provide beefed-up security measures like multiple-factor authentication, SSL encryption systems, and a decentralized platform.
Know the Rules of Poker
Now that you’re playing on a secure site, your coins might be safe from online scammers and thieves, but not from the house or your opponent if you are terrible at the game.
You must still know how to play poker, whether with crypto or fiat. And practicing regularly is one sure way to get your game up.
Sure, you know the rules and basic moves, but you need to get better at reading your opponents to defeat them. Logging your activities and strategies can help you compare and contrast your past gaming approaches for optimization.
Furthermore, most crypto poker rooms have personalized strategies and rules that may impact your gameplay. Understanding these can also help boost your winning chances by making you a good poker player.
Prioritize Bankroll Management
Crypto is a way that many people stash away their savings. And, now, crypto poker is making it easier than ever to access that stash for playing your favorite game.
So, you need to be wise and careful.
An effective bankroll management strategy starts with knowing your budget and how much money you can make realistically. With that understanding, you must identify the suitable games and stakes for those parameters.
Whatever you do, spending more than 5 – 10% of your bankroll at a time is not advisable.
Play Strong Hands
Now, to more poker-specific tips.
You need to play the strongest hands to boost your winning chances.
Who wouldn’t if they had them all the time, right?
Everyone would. However, placing an extra emphasis on playing only the strongest hands is critical to more wins.
What if you don’t have one? Then, fold. This will reduce the total number of hands you play and, as a result, reduce your losses. Don’t worry. Even the best poker players try to play cards with a higher statistical chance of winning.
Know When to Play the Odds and When to Play the Player
Sometimes, you bluff your opponent despite having a mediocre hand. However, bluffing isn’t advisable when you have nothing, as the losses can be devastating if your opponent calls your bluff.
Other times, it’s better to skip bluffing altogether and focus on the odds. Poker, though a gambling activity, is a game that can be won with pure skill. So, you need to look at the statistical likelihood of specific gaming outcomes —- the game is essentially a prediction game. And remember, reading bluffs online isn’t as easy since you can’t see your opponents’ faces.
Differences Between Playing With Crypto and Fiat
Playing poker with crypto is still the same game at the end of the day. However, the means of depositing and withdrawing funds differ. While crypto poker allows players to deposit and withdraw winnings in their specified crypto coin, using fiat money means players can only deposit in supported currencies like the US dollar, the British pound, etc. However, aside from this significant distinction, these two poker games still express sharp contrasts in terms of the advantages they confer on both the players and the house:
Advantages of Playing With Crypto
Playing poker with crypto has the following benefits:
- There’s the potential for ROI increases due to the value fluctuations of crypto coins. You could win a coin at a lower value, hold it for a while, and sell it when the value increases.
- Unlike traditional online poker rooms, crypto poker platforms often guarantee faster transactions, ranging from depositing and withdrawing winnings from their platform, so you’ll never miss a buy in again.
- Like the crypto space in general, playing crypto with poker is often done in an anonymous gaming environment where players don’t have to enter their personal information. This makes it a safer option for many who value their online anonymity.
- With crypto poker, players don’t have to deal with interference from third parties like banks and payment processors. As such, the transaction fees are lower, and they don’t have to incur currency conversion fees.
- Both players and the house can get high transparency and fair play because the blockchain technology on which the game is based records all transactions and results for both parties to view.
Benefits of Playing With Fiat
Despite the upward trend observed with playing poker with crypto coins, the traditional route of playing with fiat has the following pros:
- Playing poker with fiat currencies has been around for a while. Players are used to it, and it’s a seamless experience for them.
- Having been around for long, agencies have implemented standard regulations for monitoring their activities. As such, players get a better sense of security.
- Virtually all poker sites and platforms accept fiat payments from various currencies, thus making it accessible to players from anywhere around the world.
- The more, the merrier. The fact that more players have access to fiat poker games means each individual can get a better experience when they compete with other people online.
