DYOR in Cryptocurrency
DYOR aims to reduce the number of uninformed investors in cryptocurrency. It encourages them to research and understand a cryptocurrency before investing so that they can answer precisely why they are buying that currency and supporting that project.
The term is also often used as a disclaimer when cryptocurrency traders and enthusiasts make public posts or share their market analyses on social media platforms.
Why is it important to do your own research?
Shilling is a common practice in cryptocurrency where people tend to advertise the coins that they own in hopes of positively affecting the price. Quite often, it can be difficult to distinguish the difference between a shill or an unbiased post. When purchasing any cryptocurrency, it is advised to make the decision on your own before investing, and not just because someone else has said it is worth it.