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How To Improve Your DYOR (Do Your Own Research) Skills To Avoid Losing Money In Bad Projects

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by COINS NEWS 110 Views

How To Improve Your DYOR (Do Your Own Research) Skills To Avoid Losing Money In Bad Projects

As we all know it is very important to make a good research when looking for a project to invest in. I decided to create this small guide so everybody can learn or remember the most important parts.

Team

DYOR on the team behind the project like if you were a private detective. Find a team which has experience in tech or crypto industry and has a clean record. I use to look information about them on LinkedIn, Twitter or their website.

Whitepaper

Really read the whitepaper because it is the base of any crypto project. It shows what is the vision, roadmap and technical details of the project. I consider a good whitepaper one that is transparent, concise, easy to understand and without hype generation things like the ones that you can see in memecoins and shitcoins.

Technology

Check the technology used in the project. Check if it is scalable and its potential to grow in the future.

Adoption

Search for projects that solves real world use cases or has the potential to do it and the ones that are being adopted by businesses and people.

Market Cap

This is the total value of all the coins in circulation. A higher market cap indicates that more people are investing in the project, which can be a positive sign.

Liquidity

Check if the coin is easy to buy or sell in exchanges. A crypto with high liquidity is more accessible and can be traded more easily.

Community

An strong, supportive and healthy community is a good indicator of the success of a project. Check how people behave in those places and also how mods and project devs act. You can check those communities in Reddit, Twitter and Telegram.

I hope this post helps you to improve your DYOR and find great projects to invest in.

DYOR

submitted by /u/kirtash93
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