How to; Do Your Own Research DYOR in the Crypto Space by Tendai Tomu Coinmonks

Many users learned the hard way that many of the people advising on the forums pushed their investment by making others buy the same tokens. What would happen is one Redditor would ask about investing or reasons for investing on a specific token. Multiple users would respond with analysis for investing in the token.

DYOR in crypto is all about using a variety of sources and tools to broaden your perspective. The more mediums and crypto influencers you connect with, the more confident you will feel in coming to your own conclusion. The crypto crowd can make or break any asset in a matter of time. All these analysis practices when combined can help you interpret market data and give you various aspects which will guide your trading. Before DYOR in crypto, there is some prerequisite knowledge that you need, or else you will get tangled up among numerous sources advising investing tactics and predicting the crypto market.

dyor meaning crypto

The bottom line remains that no matter what anyone or any site claims, it is your money at stake. If you earn gains or book losses, you’re the only one that will suffer. Trading based on DYOR makes sense as you do all necessary to identify the risks, know the potential for earning and know how to minimize costs.

What Is Staking In Cryptocurrency? How To

Cryptocurrencies are bought or traded by investors and speculators, and everything needs to be put in the correct perspective. Cryptocurrency, you’ll hear a lot of trading terms that may sound unfamiliar. Trading and investment have their own language, and it can be daunting to learn all these new terms. However, they can be quite useful if you want to keep up with what’s going on in the financial markets. Sybil attacks are also very common on social media platforms such as Reddit, Twitter, and Facebook. But, it is not always easy to spot the fake accounts, so it is important to remain skeptical and do your own research.

  • It depicts the recent price momentum for coins and tokens and a historical overview of the price on this day in the past few years.
  • In the context of crypto, it typically means being asked for a full legal name and government-issued identification documents when signing up for a platform.
  • The main idea is that they all did their own research, came to their own conclusions, and made their investment decisions based on those conclusions.
  • If you see that the token you are interested in is not active on reputable exchanges or if its trading volume is low, tread with caution.
  • Total Value Locked – Terra has a TVL of AU$19 billion, which is the second-highest amount of any blockchain.

There’s a clear product market fit for them in the crypto ecosystem. However, these projects remain centralised at their core, as the dollars backing the coins are held in the traditional financial system. Crypto has been a life-changing investment for so many people and it’s natural that new investors to the space want to achieve the same level of financial success. Intuitively, these investors recognise that selecting the right cryptocurrency is the most important decision they will make when investing in crypto. Though there are many social media platforms where the crypto community is quite active, you still ought to DYOR as Sybil attacks are very common on such platforms.

DYOR Tool 5: r/CryptoCurrency on

Earlier this month, the crash of two cryptocurrencies caused a crash felt around the world, as seen here at a crypto exchange in Seoul. Once you have your list of goals, do you need to finalize how much money you are willing to lose? While losing money is always wrong, there’s always some risk of loss involved when we trade. Amongst the benefits of DYOR is finding out that the medium- and long-term trades would be more suitable for your lower risk appetite. This would involve going through project offerings, ICO documentation, and secondary research on second-and third-party sites.

dyor meaning crypto

It acts as a reminder to keep our heads down and keep building the infrastructure that may very well serve billions of people in the future. In addition, BUIDLers understand that the teams that keep building with a long-term mindset will likely do well over the long-run. In this article, we’ve compiled some of the most important trading terms you should know if you’re trading cryptocurrency. A brief recovery in the price of a declining asset that is shortly followed by a continuation of the downtr… Overall, Australia stands as the 15th most crypto-ready country in the world, tied with the Netherlands. By clicking the Get Started button you acknowledge having read the Privacy Notice of where we explain how we use and protect your personal data.

Crypto, or cryptocurrency describes any digital form of money that uses cryptography to secure transactions, such as buying, selling, transferring, staking, and more. Since real money is involved in investing in projects and buying actual cryptocurrencies, misinformation and scams are rampant. It’s no wonder that those eager to learn will seek other, more experienced crypto market participants, engineers, analysts, and traders to help fill in the gaps. Learn how to trade forex in a fun and easy-to-understand format.

You’ve learnt how to do your own research and identify which crypto to buy now. You’re well on your way to building an impressive crypto portfolio filled with exciting digital assets. The journey isn’t over once you’ve made your crypto investment. One of the key features of the platform is the great charts that community members contribute to the website. Many crypto and blockchain projects are decentralized finance applications.

Each of them serves a somewhat different purpose, but used together, they will help you carry out effective DYOR. The website is also a good source of crypto intelligence in the form of podcasts, a newsletter, and industry commentary. For instance, Bitcoin is presently inflationary because some Bitcoins are still left to be mined. But once this mining is done, there is no more Bitcoin to be mined, then eventually it will become deflationary. Otherwise, you can also look up a blockchain explorer of that cryptocurrency. However, there has been instances in the past where bad projects were listed and they got rugged in the end.

There is something called the farm token and you need to steer clear of them. These are tokens developed, given an arbitrary value, and sold to early investors. To encourage users to invest in it, more of these special tokens are made thus making them inflationary!

Below is the list of some of the best analysis practices for traders of all levels to do their research. The Best Resources & Data for Crypto FA Want to engage in fundamental analysis but have no idea where to start? Whether you create your own strategy or follow a premium community leader, we believe the power to automate belongs in the hands of every crypto investor. dyor meaning crypto After you sign up and connect your first exchange account, you’ll deploy an investment-maximizing strategy in as few as 5-minutes. Each day Shrimpy executes over 200,000 automated trades on behalf of our investor community. Since we have reached the point of talking about analyizng prospective investments, it is time to truly lay out the importance of analysis.

DYOR Tool 1:

The second step to take your DYOR in crypto to the next level is through technical analysis . In most cases, when you spot trading in cryptos by looking at historical price movements, you can identify a strategy where the prices of the crypto are available at a reduced rate. In some cases, FA also includes monitoring market data such as volume, circulating supply, token emissions, distributions for team tokens, and so on. Staring at charts, looking for candle patterns, checking up indicators, and testing new trading strategies is everything that you need to do in order to succeed with technical analysis.

CoinMarketCal is a great resource that makes this task much more manageable. One of the enticing aspects of cryptocurrencies, which pose an alternative to traditional financial institutions, is that expertise is available to anyone who wants to claim it. There are people who’ve gotten rich, people who know a lot about blockchains and people who believe in the liberating power of digital currencies.


Returns on the buying and selling of crypto assets may be subject to tax, including capital gains tax, in your jurisdiction. Any descriptions of products or features are merely for illustrative purposes and do not constitute an endorsement, invitation, or solicitation. The decentralized nature of the crypto world means that even the leading websites may not have perfectly accurate figures at all times. Thus, CoinGecko is a useful tool to cross-reference the accuracy and precision of key indicators such as market caps, token prices, rankings, or trading volumes listed at CoinMarketCap. The key information you can focus on for your initial research is coin and token rankings in terms of market capitalization or 24-hour trading volume. In the later stages of DYOR, you may look at information regarding specific tokens of interest to you.

dyor meaning crypto

DYOR stands for Do Your Own Research and is a common phrase used by cryptocurrency enthusiasts. However, the acronym is not a piece of advice exclusive to the cryptocurrency ecosystem. It is commonly used throughout the internet due to how fast and easily misinformation can spread. KYC stands for ‘know your customer’ and is used by financial institutions to verify the identity of individuals using their services.

What does Do Your Own Research (DYOR) mean in crypto?

However, there are no guarantees in investing, so it’s important that you research thoroughly and apply clear thinking to move the odds in your favour. All this information is displayed in simple charts that traders can analyze to view differently on chain metrics. On-chain data analysis is valuable for both smart traders and novice traders as it gives the exact facts and figures to better predict the market pattern.

Fundamental Analysis

Slang for the type of car that many crypto enthusiasts aspire to buy when their digital assets “moon” — or … The acronym of Do Your Own Research — encouraging investors to complete due diligence into a project before investing. Or Know Your Client guidelines ensure that institutions facilitating the trading of financial instruments verify their customers’ identity. The main reason behind it is to minimize the risk of money laundering.

So in these kinds of videos, you get first-hand verbal clarification from the team, and this makes your Understanding more holistic. After getting an idea of the recent past, go back to the initial periods when this token was actually made public for crypto users. The three usual ways of doing this are by early investors, a closed set of miners, and some early handful of private investors. Simply put, before anything first you should go to popular Cryptocurrency websites like Coinmarketcap or Coingecko or any reputable site and look at what the current price of the cryptos is. Team – Terra was founded in January 2018 by Daniel Shin and Do Kwon.

Dapps can provide the same support as a typical app, but they have the added characteristic of enjoying the advantages of decentralisation. Familiarise yourself with these crypto acronyms to better understand what people in the crypto space are saying. 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. As already mentioned, security measures are very important and that is why any trader should be aware of the legal barriers to entry.


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