Tired of falling for hype? DYOR isnโt just a buzzword; itโs how you avoid getting wrecked. If you want to trade smarter, not just louder, youโve got to learn how to Do Your Own Research.
First in a series, follow for more!
Before you get lost in charts, tokenomics, or whitepapers written like rejected Marvel scripts, take a breath. The first step of doing your own research is just to... look. Really look. Whatโs this thing supposed to be?
1. Whatโs It Called?
You can tell a lot by a name. Now, meme coins have thrown chaos into the mixโDogelon Mars and PepeChain might be ridiculous, but at least theyโre honest about it. But when a supposedly serious project goes by NeuroHype QuantumMesh 9000, it might be trying to sound smarter than it actually is. Be wary of buzzword smoothies.
2. Whatโs It Claiming to Do?
Can you explain it to your cousin in one sentence without breaking a sweat? โItโs a platform where people can lend and borrow crypto without banksโ is good. โItโs a gamified AI metaverse with neural staking and emotion-driven NFTsโ is... probably nonsense. If it sounds like tech salad, it might just be empty marketing fluff.
3. Whoโs Behind It?
Crypto loves pseudonyms, but real people should still leave real footprints. Google the team. LinkedIn, Twitter, Mediumโanything. Have they worked in crypto before? Built something solid? Or does their name only show up in connection with rug pulls and red flags?
If thereโs no team at all, or if itโs "founded by Satoshi420 and coded by MoonBoi", thatโs your cue to move along.
4. Where Is It Based?
Even โdecentralisedโ teams have foundations or legal setups somewhere. If the official HQ is an empty PO box in the Cayman Islands or simply โnowhere,โ take note. It doesnโt automatically mean itโs dodgyโbut itโs a detail to keep in your back pocket.
Bottom Line:
This is your first-pass filter. No tech skills requiredโjust common sense and a healthy dose of curiosity. If a project already feels weird at this stage, you donโt owe it another second. But if it passes the sniff test, then itโs time to dig a little deeper.
Next time: The Coin's Website.
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