DYOR or DIE
The slogan ‘DYOR’ (Do Your Own Research) has been around for decades but only recently gained popularity in the blockchain space.
Too often in the cryptosphere, projects can make big claims that end up turning out to be empty promises. In such a large and dynamic environment where new projects are popping up left and right every day, the ecosystem desperately needs a way to weed out the bad actors from the good ones.
Protecting yourself from scams, frauds, and fake investments
Being an investor in the crypto space, it can be hard to make investment decisions because there is so much conflicting advice.
The dilemma most people have when they get into crypto investing is that instead of doing their own research, most people rely on the ‘opinions’ of others or just blindly listen to the financial news. It is these other people who do your investing for you…usually not too well. With individuals throwing around words like “whales”, “bubble”, “when moon?” and “lambo”. It can be hard to find unbiased information on what coin to buy, when to buy and sell and lots of other information.
Good investors do their homework, perform their due diligence and research thoroughly. Unfortunately, there’s no shortage of people who want to take advantage of you for your hard-earned money.
Regardless of your level of knowledge or experience, it pays to DYOR. Doing Your Own Research and finding your own answers is the best way to be at peace with your crypto choices.
Think about this, would you buy a home without making sure the plumbing and electrical are in good condition? Have you ever got into a taxi without checking the driver’s credentials? now go to DYOR…
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