DYOR is an acronym for ‘Do Your Own Research’. It is a phrase used to tell crypto and web3 investors to complete their due diligence and take full responsibility for their investments.
The Long Explanation
DYOR is a pointed way of telling everyone to conduct their own investigations before risking their money with crypto investments. This term often implies that the advice you’ve just received should be taken at face value until you can confirm its veracity yourself.
The term aims at reducing the number of crypto investors who simply follow the crowd without knowing why they’re investing in a token. It began gaining popularity in 2016 when plenty of fraudulent ICO (initial coin offering) projects were used to scam unsuspecting crypto investors.
DYOR is also regularly used as a disclaimer by cryptocurrency traders who dish out investment and trading advice or market analyses via public posts on YouTube or social media.
Today it is important advice for any crypto and NFT enthusiast looking to enter a ‘strange’ web3 arena. It is especially important advice as many on social media and discord simply preach about projects they’re invested in, in order to gain more investors.
Doing your own research will ensure you go through the motion of identifying any red flags in your due diligence phase and you’re satisfied with your investment decisions at all times, even if they turn out wrong.
