Do Your Own Research (DYOR) is a very important aspect if you are a cryptocurrency investor. DYOR got popular when many investors during the years 2016 and 2018 got scammed and lost all of their money. To counter these scams, people were encouraged to ‘Do Your Own Research’ to inquire about any project before they make any sort of decision to invest in any project. The aim of DYOR is to make the investors aware and informed about the cryptocurrencies. There are many ways to DYOR, some of them are as follow:

Use DYOR tools: Research tools have made it easier for us to research about almost anything. Research tools such as coinmarketcap.com, defipulse.com, and dyor.net etc. have a huge database of information regarding almost all coins that exist currently. You can get information regarding the coins you want to invest in from these DYOR tools.

Use social media: Social media nowadays is the hub of knowledge. There are so many groups on Facebook, subreddits on Reddit and topics on Twitter that are specifically dedicated to sharing information regarding cryptocurrency. These platforms also contain experiences of people related to different cryptocurrencies that can help you to learn from their mistakes as well as their success.

Research about the developers: Before making an investment in a coin you are not familiar with, it can be a good practice to research about its developers. You should ask about things like how well they are known, how good their track record is, how responsive they are and stuff like that.

Check official websites: You can also start DYOR by looking into the official websites of a project. You can research about what they have to offer, how well they have established their website and what type of information they have disclosed publicly.