DYOR is a common phrase used by cryptocurrency enthusiasts to mean “Do Your Own Research.” While the term has its origins in the cryptocurrency market, it is not exclusive to the ecosystem and is used throughout the internet as a way to tackle misinformation.
Understanding the term
DYOR is like advice aimed at reducing the number of uninformed investors in the cryptocurrency market. It encourages newcomers in the crypto world to, of their own accord, research and understands a particular cryptocurrency instead of blindly investing. They should be aware of exactly why they are investing in a particular cryptocurrency or supporting a project.
The term is also used by expert cryptocurrency traders and enthusiasts as a disclaimer when they post or share their market analysis on social media or public platforms. DYOR is also used to tackle the common practice of shilling in the crypto world. Shilling refers to the practice of advertising a particular token in hopes of positively affecting the price in an unbiased way. Traders are, thus, always advised to make their own decision based on analysis and research.
Newcomers in the cryptocurrency market are urged to DYOR and investigate any potential investment before investing. The term is now used to encourage amateur investors in any market to navigate misinformation.