Do Your Own Research or DYOR is a concept where readers are encouraged to research things on their own so that they can make better-informed decisions and avoid shilling, false promises, scams, and traps.
How To Do Research?
It’s easy to say Do Your Own Research but almost all websites do not mention how to do it. Here is a short but helpful guide I have created from my own 5 years of research experience in crypto.
1. Visit Website and Socials
Website and socials are the face of a project. Any genuine website would have a detailed About page and a Contact page. These pages should provide you with enough information so that you can know about the project or contact them.
However, do not get your hopes too high that they will reply as most projects tend to ignore user mails. We have frequently seen most social media managers to be from other companies that rarely know about the project.
2. Check Traction
Traction is very important before you make any decisions regarding the crypto. You can see a project’s traction using blockchain explorers. For example to see Dogecoin’s traction visit its explorer at:
https://dogechain.info
Or else you can also take a look at websites like Glassnode, Arkham Intelligence, or Into The Block. Even CoinMarketCap (CMC) gives decent information on any crypto. However, CMC only lists projects when they have reached a specific threshold in traction.
3. Check Audit Reports
You can find audit reports on either the project docs or you can see CoinMarketCap. Generally, audit reports are listed on CMC below the project details area, somewhere around where the website is mentioned. Note that this might change as CMC updates its page navigation and user interface from time to time.
Audits from trusted auditors like Certik are more trustable, yet an audit cannot be treated as a guarantee of authenticity, it’s just something that increases your confidence.
Again, it is important to remember that you should consider multiple factors before choosing any crypto.
4. Check Tokenomics
Tokenomics is the information on how the tokens will be distributed and unlocked and how many tokens will be there in circulation.
A project that has a higher token circulation is better because it leaves fewer chances for supply shocks and whale manipulation. Supply shocks can pin a token price down similar to Worldcoin which crashed to $1.9 within a year of launch and within reaching $11 because of excessive token supply.
Further, a token should not be distributed too much to early investors and corporates because they prioritize their profits and often sell tokens when they are at a crucial point or when they have even a slight risk.
5. Ask Expert Advice, if required
Asking for expert help is always good when you need it. Being a crypto researcher I encourage people to reach me via the email provided on the contact page.
Popular Crypto Slangs
Altcoin
Altcoin is any alternative cryptocurrency except Bitcoin. However, despite being altcoins, stablecoins are not generally referred to as altcoins.
All-Time High
All-Time High is a term that is used to denote the highest price crypto has ever achieved. It is used by investors and traders (along with the ATH date) to see the long-term trend in that crypto’s price. Frequent ATHs are preferred more which shows that the price is growing fast.
Bullish
Bullish refers to the market sentiment where a cryptocurrency or the crypto markets are expected to grow higher. The factors that make crypto or the entire market bullish are fundamental developments (Dencun Upgrade in Ethereum), adoption (Bitcoin wallets reaching ATH), announcements (launch of ETFs, features), regulatory breakthroughs (ETF approval), and many others.
Its opposite is the state of being “bearish“.
Bearish
Bearish is a market sentiment that shows pessimism for a specific crypto or the entire market. The factors that can result in bearishness are bad regulatory actions (like ripple vs sec case), lack of adoption (in Cardano), and long periods of selloffs in the markets (line crypto winter).
The opposite of bearish is being “bullish“.
BUIDL
BUIDL is a modified term used for the on-chain development of existing as well as for the launch of new projects. It is believed that those projects that build more tend to attract more users.
DYOR
Do Your Own Research or DYOR is a concept where readers of news media websites, help articles, or viewers of crypto media channels are encouraged to research things on their own so that they can make better-informed decisions and avoid shilling, false promises, scams, and traps.
FOMO
FOMO, or Fear of Missing Out, is a psychological phenomenon in trading and investing where individuals feel compelled to join a popular trend due to the fear of missing potential profits.
FUD
FUD refers to Fear, Uncertainty, and Destruction (or Doubt), that arise in the minds of market participants due to a bad political, economic, or industry problem.
GMI
GMI in crypto stands for Gonna Make It and is used in a similar context as WAGMI but on a personal level.
Example: Suppose a trader has made a major loss but has enough crypto to resume his trading journey. He would say GMI or Gonna Make It.
Example 2: We could use Gonna Make It for Axie Infinity, which lost $625 million in a hack in 2022 but still had enough funds to cover its loss.
HODL
HODL is the acronym for Holding On to Dear Life. It signifies a long-term commitment to crypto investments, whereby one holds it like their dear life and does not sell it, whatever happens.
Mooning
Mooning is the rapid increase in the price of any cryptocurrency. The term originates from the phrase “to the moon” which means that a crypto’s price is expected to go very high in a short time.
NGMI
NGMI, which means Not Gonna (going to) Make It, is a crypto slang that means there is no hope for a given situation.
Example: USTC will never reach $1, NGMI.
Pump and Dump
Pump and Dump is a crypto technique used by Whales and sometimes even project owners where they buy/hoard (i.e., pump) a specific token to create a supply shortage. This shortage then spikes the price which attracts more people. At the peak of this price, the Whale or owner dumps, and the retail investor gets trapped.
Rekt
Rekt is used as the short form of Wrecked which means to get destroyed beyond any recovery. This is used to denote situations where a trader has lost so much money that recovery seems impossible at this stage.
WAGMI
WAGMI is generic crypto slang that means “We All (are) Gonna(going to) Make It.” It is used in bad situations where there is little hope and helps uplift sentiments.
Example: Bitcoin will cross $73.7k, WAGMI.
Whale
Whale are large crypto investors who can influence the market’s behavior due to the quantity of crypto they trade. Though there is no official trading volume to become a whale oftentimes we see Whales as those traders who buy or sell more than $100k worth of crypto in a single transaction.
