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How I DYOR as someone who knows f*ck about shit

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by COINS NEWS 102 Views

I wish to preface this post with the fact that, this post, is not to be taken as a guide of any kind. This is wholly my experience and opinion. If you don't agree with some parts, share why you disagree, don't get heated over it.

This is only what works for me. I only share it, with the possibility that it may help someone who is new to the space get an idea of what their research process could include.

That being said, here are a few ways that help me decide what projects to put money into.

- Check their Twitter/ social media.
When looking into a project, I almost always have a look at what its social media presence looks like, the more a crypto team feels like they are trying a hype beast approach = crypto bros and I immediately move on. There might be gains to be made, but rug pull is almost promised.
No presence isn't necessarily a red flag, but it's always good to ensure there is at least somewhere that isn't Discord, that they provide updates, preferably Medium.

- Where project information comes from.
Touched on it a little already, but if a project's updates come only from Discord or Telegram. I avoid it like the plague, especially if telegram Is the only space.

- Is the project trying to integrate web3 with real-world aspects?
This one only really works if you're interested in the value of the crypto being tied to what it can do or what it provides and not just dependent on hype. What I like to look at; Is the team trying to create a service that actually makes sense in bringing it to the web3 world.
Also important to decide on what kind of tech or services you wish to support because once you delve into this aspect you will see there are a lot of things devs are trying to bring into the web3 space, some make sense and show promise, some make less sense but might bring gains, in a short term. And some are destined to be doomed from the start.

- Does it involve in any way BTC?
This is also a question I constantly pose to myself when researching a project. Personally, I tend to lean towards projects that wish to work with implementing BTC one way or another.

- Are Youtubers talking about it a little too much?
If a project seems to be getting pushed wayyy too much, too often by influencers, I tend to be a little more suspicious of it.
That being said, the only reason you should be watching crypto YouTuber's videos, is to get an idea of the project to AVOID. Alas, A fool and his money are soon parted.

- Deadcat bounces. ! NFA !
This one is very situational, but if making money off the death of LunaClassic has taught me anything, it's that if you catch the dead cat right before the bounce, you can make a few pretty pennies.
Always good to look at what point of the cryptos death you have come across it. It's okay to be a little degenerate and put a few dollars in the hopes of a return but don't go full gambler and take a loan out in the hopes of retiring soon.

Anyways, there are a few ways I do my own research. If there are other ways that work great for you and you want to share, I would be more than happy to read them in the comments.

Remember! The cute girl asking for your seed in your DMs is a dude.

submitted by /u/Astrochrono
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