If you play this card face-down and you have no cards in your hand, this card will still be destroyed with destruction effects, as the text states that this card must be "face-up" to gain its effect.
You can remedy this by playing "Infernity Guardian" card in face-up Attack position (Especially with "Mystic Tomato"). You may take battle damage, but this card can be switched to Defense position later.
This card is a good target for "Hundred Eyes Dragon's" effect. If you have no cards in your hand, banish "Infernity Guardian" in your graveyard to give him protection from destruction effects and "Honest" for one turn. It's also a Fiend, so it can be used to Synchro Summon "Hundred Eyes Dragon".
A good combo with this card is playing "Rope of Life". Since you'll remain handless because of "Rope of Life's" cost, this card's effect will be immediately applied, along with the extra 800 ATK boost.