If you’ve watched a video or read an article about crypto-related topics you’ve probably come across the word DYOR. It is one of the most powerful and must-have skills for investing in cryptocurrencies. In this article, I will explain what does this acronym means and how you should do it.
What does DYOR mean?
DYOR stands for Do Your Own Research. It is a pretty common phrase used by the crypto community. It emphasizes the importance of educating yourself on the topic before blindly investing in it. Many content creators use this term as a disclaimer for their opinion on crypto coins.
Why should you Do Your Own Research?
There are a couple of important reasons why you should do your own research.
First of all, I’m sure you are aware that not everything on the internet is true. There is much misinformation that is easily spread, especially in a young industry such as crypto is.
Moreover, lots of content creators are publishing “top crypto to buy” where you can find almost all coins and tokens that exist. You have to understand that the primary reason is to earn clicks and that nobody can certainly know if the coin will go up or down. Many of them are promoting coins that have no utility and end up losing investors’ money.
Lastly, it is always better that you are the one responsible for your investments because, in the end, it is your money that you are investing.
If you want to learn how to do your own research, check my 7 key elements when DYOR.
