If you look hard enough you can find someone on here who agrees with anything you could possibly come up with. At the same time, you can always find some person or online community to protest even the most well-meaning cause. This website is using a security service to protect itself from online attacks. The action you just performed triggered the security solution. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data.
Regularly review your investments, stay updated on market trends, and continue to learn and grow as an investor. Coinmarketcap and Coingecko provide comprehensive data on thousands of cryptocurrencies. You can find information about a coin’s price, market cap, trading volume, circulating supply, and more. They also provide links to a coin’s official website and social media channels, where you can find more detailed information. While price and market cap are important indicators, they should not be the only factors in your decision-making process.
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This is why it’s always crucial to manage risk and always use a stop-loss. In response, Binance has established the Secure Asset Fund for Users (SAFU) to provide a fund for potential security breaches. The idea is that the SAFU may cover the loss of user funds in extreme cases, offering an additional blanket of protection for Binance users. Please note that the availability of the products and services on the Crypto.com App is subject to jurisdictional limitations. Crypto.com may not offer certain products, features and/or services on the Crypto.com App in certain jurisdictions due to potential or actual regulatory restrictions.
Does the team have industry connections or well-known partners that showcase their experience in the field? If not acknowledged on their website, a Google or LinkedIn search may reveal this. A honeypot is a scam used in the crypto industry to trap victims and steal their assets or sensitive inform… Flatcoins are cryptocurrencies whose value is pegged to the cost of living, rather than fiat or commodity.
Quick Tips to Keep in Mind When You DYOR:
One way or another, you are bound to make a bad investment decision if you do. No one is right all the time, and no matter how pure the intentions, they will be wrong from time to time. A good way to gauge this is looking at the whitepaper, joining the social channels of the group and listening in on conversations. A lot of this information has an element of bias in it and may not necessarily give you the broad perspective you need to make an informed decision. All your sources of information are advising you to do your own research before investing, and this is sound advice.
As you see, DYOR is not just a buzzword in the crypto community. It’s a crucial practice that can make the difference between a successful investment and a costly mistake. It empowers investors to take control of their investment decisions and navigate the complex and volatile world of crypto investing with confidence and knowledge. Each currency has a whitepaper that provides investors with additional information.
Don’t believe everything you read
Is there an early mover advantage or it is an over saturated market? As a general advise, be wary of highly speculative projects with low market caps competing in an oversaturated space. BuyBitcoinWorldWide writers are subject matter experts and base their articles on firsthand information, like interviews with experts, whitepapers or original studies and experience. We also use trusted research and studies from other well-known sources. Check the regulation situation for cryptocurrency in your country or region.
- Simple Ledger Protocol (SLP) is a token system that works on top of Bitcoin Cash.
- As a result, this research is often done through social media, public forums and news stories.
- The subject research process is to find out in advance what cryptoassets we will buy through the website.
- DYOR is an acronym for “Do Your Own Research” and is possibly the most important dogma in the cryptocurrency world.
AML regulations require financial institutions such as banks to monitor the transactions of their customers and report on suspicious activity. This way, criminals are less likely to get away with laundering illegally obtained funds. However, if the asset breaches its ATH, there aren’t any sellers left who are waiting to exit at break-even. This is why some refer to ATH breaches as “blue sky breakouts,” as there aren’t necessarily any obvious resistance areas ahead. It’s also worth taking into account the fees (or interest rate) that you have to pay to get a more accurate picture.
How Do You Research Crypto? Common Ways to DYOR
Even the most reliable websites may not always have the most recent information due to the decentralized nature of the crypto world. Because of this, CoinGecko is a great tool for comparing the precision of key indicators listed on CoinMarketCap. The website offers podcasts, a newsletter, and industry commentary in addition to being a reliable source of crypto intelligence.
In addition to covering breaking news and market updates, many publications also offer informational guides and walkthroughs on their sites. How can recent or prospective entrants to crypto do the research that is needed for a working knowledge of this ever-evolving space? The information is out there but it’s not always as accessible as it could be. A good crypto project will be upfront about their team and developers and should have a number of impressive partnerships. This does not mean both are mutually exclusive; projects with genuine potential will definitely have websites that work and are designed well. Checking out a project’s official website is vital if you are considering investing.
Factor 1: The Team
There are also thousands of videos on YouTube where you can have just about any crypto-related topic explained by experts in the field. DYOR involves using different sources and social channels to give you a more informed opinion and perspective on a project you’re interested in. The more opinions and mediums you engage with, the more confident you will feel in coming to your own conclusion. After a while, you will always find a source you most likely trust the most and always go to them first for information, but never make them your only source.
