DYOR, or "Do Your Own Research," is a crucial principle to follow when investing in cryptocurrencies. It emphasizes the importance of conducting thorough research and due diligence before making investment decisions. Here's why DYOR is essential and some ways to practice it:
Read the project's whitepaper and roadmap to understand its goals, objectives, and plans for development. Assess the feasibility and clarity of the project's vision, as well as the milestones it aims to achieve.
Analyze market data, charts, and technical indicators to assess the historical performance and potential future prospects of a cryptocurrency. Understand factors that can influence its price, such as market trends, competition, and regulatory developments.
