by Hodler Ash 
What Is The Meaning Of DYOR In Crypto ?
DYOR is one of the most frequently used terms within the cryptocurrency world. The full form of DYOR is “ Do Your Own Research ” which stands as a general reminder for a trader to make his own decisions as well as have a good investment knowledge. All the trading communities in the blockchain or simply in the whole crypto world are aware of this term. If a trader is new to the cryptocurrency, there are you chances that the person can be manipulated and misled by other people. This is the reason why DYOR is very important and something that no trader should ignore, even once.
The newbies in the trading communities always rely on other people for advices without realising that investing in a certain asset is a decision that the investor should make almost solely. Consulting a good strategist is definitely a option but at the end of the day, the ultimate process of investing is a personal choice and that is what should not be influenced by what any other person in the market says. There are misleaders in every market but cryptocurrency is a little safer than them (because of the plenty of resources that are available around the internet) but that does not change the fact that misleading does occur.
Most newbies are easily disappointed when they do not get high incomes overnight which is what they expect before knowing about the market. No investment is going to make you rich in a night and that is the reason why patience is one of the biggest weapons to earn more money when it comes to the cryptocurrency market.
It definitely takes time for a trader to get used to the market and build knowledge about the coins, tokens and so on. In this run, many people also skip learning about the security measures which includes certain digital wallets, public keys and more. These are very crucial to understand in order to avoid a lot of calamities like theft and unauthorised access to funds. Skipping it is definitely not a good step.
How To Do Your Own Research ?
Every self-dependent trader requires a set of questions that they need to ask themselves before investing into a certain coin in the crypto world.
For doing self-research, it is very necessary to know all the key features of the cryptocurrency’s blockchain. Not only that, but also the development of the coin over the years should be analysed and the future development should be predicted accordingly.
As already mentioned, security measures are very important and that is why any trader should be aware of the legal barriers to entry. Every single possible competitor which is very close to the coin that a trader is researching on, should be researched on to. After doing so, whatever seems better to the trader should be invested in after strategizing the plan completely.
The cryptocurrency should also be truly decentralized and should have the ability to solve a problem. The latter is important because that is when people will buy into it and the price will increase. Their roadmap should also be analysed and no red flags should be found considering the history of the token.
The reach of the target market is very essential for the trader to know and which are the exchanges offer the particular cryptocurrency. The target market can be analysed a bit from just the marketing and social media presence. This way, a trader would know what kind of audience the information about the coin is reaching to.
Google is definitely good for the research of a lot of these factors but at the end of the day, practical knowledge is the power. The more you invest, the more you learn. The experience that you gain over the process is going to help a lot in the long run.
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