📝 Definition:
DYOR stands for “Do Your Own Research.”
It’s a reminder to carefully learn about a cryptocurrency or project before putting money into it.
As we say in crypto, “Don’t Trust, Verify.”
Don’t trust everything you read or hear, but instead, do your own research.
Get a lot of information from different sources to create your own opinion.
Never rely only on what others are saying.
🔑 Key Features:
- Individual Responsibility: Do the research by yourself to make informed decisions.
- Informed Decisions: Get information from different sources to understand the risks and rewards.
- Avoiding Hype: Avoid being influenced by big promises, scammers, and people who shill your projects.
- Diverse Research: Look at various parts of the project, like the community, team background, market potential, and technology.
⚙️ How It Works:
- Gather Information: Look up the cryptocurrency or project using trusted sources like the official website and social media, the whitepaper and the roadmap, and reliable crypto news media .
- Analyze Fundamentals: Check the project’s goals, the team behind it, its technology, and what it promise to do.
- Market Research: Study market trends, competitors, and the potential for growth.
- Community Engagement: Join online forums, social media groups, and discussions to get insights and opinions from other investors.
💡 Applications:
- Cryptocurrency Investing: Making sure your investments in digital currencies are based on solid research and facts, not rumor and hype.
- Stock Market: Using the same approach to research stocks and other investments.
- Startups and ICOs: Evaluating new projects and initial coin offerings carefully.
- General Investments: Keep the same process to make decisions in different investment areas.
🔍 Example:
Imagine you’re thinking about buying a cryptocurrency.
Instead of just taking advice from a friend or what you heard from someone on 𝕏 or TikTok, you read the project’s whitepaper and roadmap, check out the team’s background, join their online community, and study market trends.
This research helps you decide if you should buy or not, and how much you should put it.
That’s what DYOR is all about.