DYOR is something you should be aware of, never rely upon a complete stranger. In the world of cryptoland, where you find many scammers, hackers, and con artists, you must take your time before investing your money in any ICOs or cryptocurrencies.
You should have seen a disclaimer that you need to investigate yourself after reading a blog post. Moreover, you can not rely on what people tell you.
The same is true if someone tells you to jump off a bridge. Do you think you will follow his advice blindly? I do not think so!
What is DYOR?
I encounter this term recently and like you, I wanted to know what is behind this mystical acronym. As you may know, people love to write faster and save time.
The meaning of DYOR: Do your own research.
Basically, you need to investigate yourself and make your own judgment after looking many sources. If your crypto investments do not perform as you wish, you can only blame yourself.
Imagine for one instant that you buy 2 coins solely after watching a video on YouTube. Then, 3 weeks later you investment soar by 75%. What do you think you are going to do?
Often, people will go bash or blame the person that recommended and investment to release their stress. Feeling betrayed is a typical human behavior.
Where to look?
Now you know what DYOR means. The next step is to put your detective hat and do your due diligence for any crypto investment you want to make.
These are all the places you should look to increase the odds in your favor:
- Cryptocurrency Market Capitalizations: This site provides the market cap of any crypto assets and cryptocurrencies
- Youtube: You can almost learn everything on this platform.
- Reddit: One of the popular group that has over 132k readers, this is a good place to read and research.
- Twitter: One of the best place to get informed and stay up to date on any coin. Also, you can create a list to follow only what matters to you.
- Whitepapers: You need to always read it if you want to understand the idea behind the project or solution.
- Medium: This site has so many great thinkers and in-depth articles. I read on a regular basis great articles about crypto there.
- Google: A simple search engine on any questions you have in your head.
You now know what is DYOR and where to start to look for your research. I know you are going to spend many hours reading and thinking. This is something you need to do to have success in the crypto-land.
Also, I invite you to read the following articles on my blog to get further information on the subject: