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Guide: How to actually DYOR... and what it means

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by COINS NEWS 26 Views

Living in this subreddit, we can often hear the phrase "DYOR" being thrown around a lot, almost to be worshiped. However, many people can get confused on what DYOR really means, and how to do it well.

DYOR stands for "Do Your Own Research", implying that one should not simply trust what they read, but rather do their own analysis and investigation before coming to a conclusion. Wether it is related to the lated rumor, or to an investment opportunity, DYOR is crucial.

There is no foolproof method to DYOR, however, here are a few points that one should follow to increase their chances of success:

- Be skeptical of all information. Never simply assume that something is true

- Use reliable sources. When dealing with crypto related new, using well know and trustworthy sources can help a lot

- Take information at face value. Everything you read (even from official source), should be taken at face value. Don't let anyone "sugar coat" it into sounding better than it is

- The founder of a shitcoin is BIASED. IF you choose to go down the shitcoin path, listening to paid promotion posts/shills or the founder is NOT an accurate representation of the tokenomics and its worth.

- Always try to do fundamental analysis. When dealing with a token, try to go to its contract address. See the market cap. See the holder and their % share of token holding. Can the token be minted out of thin air, or is there a cap? All of this will help you come to an informed decision.

- Don't fall into FUD. It is easy to make irrational decisions when scared. Always look at the fundamentals and make your own decision.

- Same for FOMO. Don't FOMO. Do your research, analyze the fundamentals, and then make an informed decision

Let me know if I missed anything,

As always, good luck and happy trading

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