How to Do Your Own Research DYOR Token Metrics Help Center

DYOR stands for Do Your Own Research and it represents a powerful acronym that urges newcomers to learn on their own and not to rely on others. As you might have already guessed, this lesson deals with research. Although the Shrimpy Academy is extensive enough to guide you through various parts of the cryptocurrency world, research done on your own is still a valuable skill that will be needed in later phases. Cryptocurrencies, and topics related to cryptocurrencies, can get very technical and be complex to understand.

People researching crypto and blockchain projects should use multiple tools, common tools include CoinGecko, CoinMarketCap, Investopedia and social media. Many auditors, such as Certik, Hacken and Quantstamp review the code of blockchain projects before launch to ensure their security. These audits involve double-checking the code and testing it for vulnerabilities, which results in the funds within the application being much safer than a non-audited smart contract. Looking up the audit report of projects before investing is a sure way to build confidence in a project.

  • If you are interested in learning more about fact-checking and claim verification, have a look at the following material.
  • If it doesn’t, this should raise some red flags because the project team tries to feign expertise by passing someone else’s code as their own.
  • Network effects – The speed the network is growing and the stickiness of participants.
  • They would attempt to hype a project up by creating an illusion of community engagement and initiating discussions with real social media users.
  • If it comes up empty, or the only results are regarding the project you are researching, it is an indication that their team members are potentially fake.

In most cases, when you spot trading in cryptos by looking at historical price movements, you can identify a strategy where the prices of the crypto are available at a reduced rate. In addition, you can look for information about the team members on their official website to find out whether they have used their real names. You can also learn about their previous experience from social media and other sources. Review the website, white paper and roadmap to understand the basic mechanics of the project and think about what is innovative about the project and whether it solves some current problems.

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Do you need a quick overview of the market, or do you need more in-depth information? If you want a quick overview, then CoinDesk and CoinTelegraph are good sources because they have an excellent guide to cryptocurrencies. If you want more in-depth information, then Bitcoin Magazine and the Bitcoin Talk Forum are good places to start. In the crypto space, founding teams often stem from the same company, startup, or college. Many crypto projects are under development at the time of investing in the underlying cryptocurrency.

Do Your Own Research (DYOR)

The internet is full of misinformation and disinformation, some of which may even be malicious propaganda. Therefore, users must do their own research and judge the reliability of information so as to make decisions wisely. In this article, we will explain why DYOR is so important and how to do your own research. The problem is compounded by the fact that outsider critics frequently have legitimate complaints about advice provided by insider authorities.


The best investors can do is equip themselves with enough knowledge and research to assist in effective decision-making and reduce risks. When the market is going up, some investors can be caught up in the hype, buying based on the fear of missing an opportunity. Without thorough research, investors are more likely to incur financial losses after buying assets at elevated rates.

The value of crypto assets can increase or decrease, and you could lose all or a substantial amount of your purchase price. When assessing a crypto asset, it’s essential for you to do your research and due diligence to make the best possible judgement, as any purchases shall be your sole responsibility. To learn more about calculating the risk profile of a project with tokenomics, see our article on token validation. It is a great tool to track public interest in various tokens or cryptocurrencies.

Do Your Own Research (DYOR)

You’re well on your way to building an impressive crypto portfolio filled with exciting digital assets. Last but not least, investors are welcomed to DYOR by meddling with fundamental analysis. FA is an evaluation strategy used to determine the fair value of an asset on the market. This is usually done by reviewing business practices, whitepapers, roadmaps, development, marketing strategies, teams, tokenomics, network activity, etc. Cointree is a digital currency exchange, founded in Melbourne in 2013, helping over 100,000 investors access the world of crypto.


Although the information posted on social media may be unverified, these platforms can still be an excellent way to get much-needed information about projects. Posts may be from people who have lost money, made money, or those who noticed specifics that they considered to be red flags. However with everything on social media, always confirm that the statements being made are legitimate before you take them as truth.

Do Your Own Research (DYOR)

So it’s important to know what sources can be trusted and which ones you should avoid. Similarly, several centralized exchanges are creating ways to participate in crowdloans through their platforms, while some wallets are integrating crowdloan functionality into their apps. Any legitimate effort should be using the native crowdloans module in the background and offering a more streamlined user experience. Confirming this is necessary before using these services, but in any case, it still involves trusting the exchange or the service provider. With the recent launch of parachains on Kusama, many projects that aim to become a parachain launched a crowdloan to gather the necessary funds to participate in the parachain auctions.

Blockchain Technology Use Case

In spheres as disparate as medicine and cryptocurrencies, “do your own research,” or DYOR, can quickly shift from rallying cry to scold. Having your own research before making any investment selections is vital. This is due to the fact that depending on the advice of others, even when they appear to be experts, might result in poor choices.

Do Your Own Research (DYOR)

In a 2018 study, for example, one of us and the psychologist Carmen Sanchez asked people to try their hand at diagnosing certain diseases. Given the limited nature of the symptom information that was provided, the participants’ judgments ought to have been made with some uncertainty. Consider what can happen when people begin to learn about a topic. They may start out appropriately humble, but they can quickly become unreasonably confident after just a small amount of exposure to the subject. But in practice the idea that people should investigate topics on their own, instinctively skeptical of expert opinion, is often misguided.

It gives you a quick overview of your portfolio, so you always know how your coins are performing. Finally, you will receive a free multi-coin wallet to store all of your coins when you trade on our crypto exchange. Given that it already has a market cap of tens of billions of dollars, it’s unlikely to rise 1000% in a week like some small-cap coins. Instead, investors may be looking at it as a successful protocol that can continue to grow with the space. Any good investor checks the figures before they invest and it’s no different in the crypto industry.

What does Do Your Own Research (DYOR) mean in crypto?

With all the research reports and market analysis, it’s always important to take control and DYOR. The findings also showed that the crypto market in Australia has rapidly grown with almost 18 percent of Australia’s population holding cryptocurrencies as of 2021. By clicking the Get Started button you acknowledge having read the Privacy Notice of where we explain how we use and protect your personal data. If you have been in the crypto space for a minute, you will likely been told to ‘do your own research.’ Here are the four steps of DYOR. The tools covered above are the key to solid research and due diligence. Each of them serves a somewhat different purpose, but used together, they will help you carry out effective DYOR.

Several Bitcoin community members decided to add laser eyes to some friends’ avatars in hopes of fueling the entire crypto community to push bitcoin’s price to a new ATH. A marketing strategy used to spread fear and insecurity among customers, traders, or investors. DYOR stands for Do Your Own Research and is a common phrase used by cryptocurrency enthusiasts. However, the acronym is not a piece of advice exclusive to the cryptocurrency ecosystem. It is commonly used throughout the internet due to how fast and easily misinformation can spread. The words imply a fundamental distrust in authority, and thus a shift to complete self-reliance.

DYOR Tool 6:

Many users contribute excellent technical analysis on cryptocurrencies and tokens. The decentralized nature of the crypto world means that even the leading websites may not have perfectly accurate figures at all times. Thus, CoinGecko is a useful tool to cross-reference the accuracy and precision of key indicators such as market caps, token prices, rankings, or trading volumes listed at CoinMarketCap. The acronym DYOR is well-known in crypto and blockchain circles.

For the on-chain analysis, you have to complete the above-mentioned analysis as this aspect of DYOR in crypto is solely based on blockchain data. All these analysis practices when combined can help you interpret market data and give you various aspects which will guide your trading. When you want to DYOR, Gate Learn is the best choice for you to get adequate information about blockchain and project background. Everyone should do their own adequate research before investing. There may be many “teachers” or “masters” who want to give you advice and guidance on your crypto investment, but you need to know that nothing can replace DYOR.

How Do You Research Crypto? Common Ways to DYOR

There is always a day where you can learn something new or master trading purely through practice. In an ideal world, beginners of any subject would have access to an universal handbook that dictates how a sector works and how to participate in it. But since we are far from living in an ideal world, users are highly encouraged to Do Your Own Research . Find the approximate amount of currency units to buy or sell so you can control your maximum risk per position.

Visit the project website, download the white paper, view the roadmap and get to know the members of the team. As the crypto market is in such a mess, is it possible to rely solely on opinion leaders or recommendations by others to make a decision? Instead, our message, in part, is that it’s not enough for experts to have credentials, knowledge and lots of facts. They must show that they are trustworthy and listen seriously to objections from alternative perspectives. Their experience makes them less willing to listen to well-informed advisers than they would have been otherwise.

Content may not always be entirely accurate, complete or current. Intermediate Intermediate Series What Is the Ethereum Virtual dyor meaning Machine ? In this guide to evaluating a DeFi project, we cover everything from the fundamentals to key DeFi metrics.

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