What Does “Do Your Own Research” (DYOR) Mean?
Do Your Own Research (DYOR) is a slang term used to emphasize the importance of conducting thorough research and due diligence into a cryptocurrency coin or token before making any trading or investing decisions.
Cryptocurrencies are highly speculative assets with volatile pricing and numerous scams. You should DYOR rather than relying solely rely on opinions, advice, or tips from others, such as social media influencers, posters on online forums, or friends and acquaintances. It is crucial to understand the cryptocurrency you are buying, selling, or holding and be clear on its underlying technology, features, use cases, team, community, and any potential risks associated with it.
By doing your own research, you can better assess the opportunities and risks involved in investing or trading and make more informed decisions.