DYOR states that investors should do their own research on the market and the vehicle to be invested. DYOR is short for “Do Your Own Research”; which means “Do Your Own Research” in Turkish.
What is DYOR?
DYOR stands for “Do Your Own Research” and is a common phrase used by cryptocurrency enthusiasts. However, the abbreviation is not specific advice to the cryptocurrency ecosystem. It is widely used on the internet because of how quickly and easily false information can spread. In fact, it can be said that it carries a warning expression.
You can often come across the advice of “Do your own research”, that is, “Do your own research”, in the social media posts of crypto commentators. For example, a commentator or investor might end a post on a cryptocurrency review with the acronym DYOR. This is a warning that you should do your own research before acting on the relevant comment. In other words, it is a kind of message “It is not investment advice”.
What Does DYOR in Crypto Mean?
In crypto, DYOR aims to reduce the number of uninformed investors. It encourages users to research and understand a cryptocurrency before investing. Thus, users can answer exactly why they bought the currency in question and support this project.
The term is also often used as a disclaimer when cryptocurrency investors and enthusiasts make public posts or share their market analysis on social media platforms.
DYOR (Do Your Own Research) Tools
The first point to consider when researching before investing in cryptocurrencies is price values. The trading volume and price chart of the crypto asset to be invested should be examined. It is also important to read the whitepaper in order to know the project of the asset that is planned to be invested. In addition, cryptocurrency trading platforms where projects are listed with websites, social media pages should also be included in the research.
It is possible to comment on this subject by accessing the necessary data, especially on websites such as CoinMarketCap and CoinGecko.
In addition, examining the platforms where analysis and opinions on investments are shared is one of the moves that should be made within the scope of Do Your Own Research.
These tools play a key role in conducting sound research and due diligence. Each of these serves a different purpose, but when used together they will help you achieve an efficient DYOR. Users can benefit DYOR toolscan be listed as follows:
- CoinMarketCap
- DefiPulse
- CoinMarketCal
- CoinGecko
- Investopedia
- TradingView
- Projects’ Websites and Social Media Pages
