It is very frequent in the world of Cryptocurrencies that when asking in different online communities about whether a certain Crypto Asset is a good investment, someone answers: DYOR.
This famous word is made up of the initials of the phrase: "Do Your Own Research" (DYOR).
DYOR refers to the importance of conducting, personally, a detailed investigation of the investment assets before making the decision to risk the capital (there are always risks, but sometimes unnecessary risks are taken).
The most usual practical way to carry out DYOR is the exhaustive review of different sources of information that are reliable (blogs, forums, news articles, social networks, reports from entities and organizations, etc.). Specialized software can also be used and even the highly publicized Artificial Intelligence can be used.
DYOR is carried out both in Traditional Investment (Shares/Bonds) and in Crypto Investment (Cryptocurrencies/Tokens). However, its use in the Crypto Market is more strategic and necessary since this Market is generally much more volatile and speculative.
The essence of doing your own research is to make decisions based on your results and not on the supposed results of third parties (which may be flawed or manipulated).
The use of DYOR is essential and its importance should not be underestimated by Investors (even by professionals). Each crypto investment must be researched and analyzed, personally, before making it.
All of the above is the meaning and scope of DYOR in a simple and summarized way (for more information: DYOR😅).
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