Create a FREE account and...
Manage your own Watchlist
Access all education lessons
Converse with other crypto enthusiasts
Be a part of the Interactive Crypto Community
OR
Please fill out the required fields Please fill out the required fields Please fill out the required fields
Get Into Cryptocurrency Trading Today
Do Your Own Research (abbreviated as DYOR) is a golden rule used by crypto enthusiasts before investing in a cryptocurrency project.
The rule aims at reducing the number of investors who invest in cryptocurrency without the necessary information, encouraging potential traders to research and understand every project before putting in their money. That helps an investor to know precisely why they are buying a certain digital currency and support the project.
Shilling is a popular practice in the crypto world. That involves people advertising the digital coins they own, hoping they can positively affect the price. Unfortunately, it can be tricky to distinguish the difference between an unbiased post and a shill.
When buying any digital coin, it’s advisable to make the decision based on your own research and conclusions and not because a self-proclaimed expert says it’s worth the money.
That’s because some people quickly create multiple fake accounts on social media platforms like Facebook, Twitter, and Reddit, attempting to trick the investors into certain cryptos, based on popularity. Unfortunately, fake accounts are hard to spot, so it’s always important to be sceptical and do some research.
Here is how investors can start doing their own research before investing in crypto projects to minimize their losses in the market while trading:
Start by shortlisting the digital assets and crypto tokens that most appeal to you to know your potential investments. When choosing which cryptocurrencies make it into your list and those that don’t, start by considering whether there is a good amount of transparent information on the project out there.
The more available information you can find on any digital asset, mainly from independent sources, the better.
If most of the information available is either from the project’s website or shaky sources that are suspiciously optimistic on its prospects, avoid including that digital asset into your potential investments. Fortunately, www.cryptovantage.com simplifies the process of buying crypto by giving you trustworthy information you can use in your research.
After identifying your potential investments, make a list of your investment goals. Think about whether you want to target short, medium, or long-term timeframes with your investment and also your appetite for taking investment risks.
If you want short-term investments, consult crypto price charts instead of reading the project’s literature. However, you must ensure that your skills as a day-trader are up to par.
Medium and long-term investments usually carry less risk and are better for traders with conservative investment goals. That’s because crypto investors rarely make outsized gains, even though cryptocurrency enthusiasts love talking about currencies “going to the moon”.
Additionally, it’s impossible to predict when that’s going to happen.
Your list of goals should help you narrow down your long prospect list by eliminating risky crypto projects, especially those that don’t line up with your values.
While knowing the amount of cash you can afford to lose might seem counter-intuitive, losing your hard-earned cash always stings. That’s why you need to avoid money meant for college, rent, or anything else you can’t afford to lose. Ask yourself whether a loss can break or make your quality of life.
Fundamental analysis means conducting extensive research on several internal and external factors using publicly available information online to determine an asset’s true value. Fortunately, you can determine an asset’s real value by ignoring future fluctuations.
The information you get from the fundamental research helps you to carefully plan the entry or exit points when investing in an asset. It also helps the investors to buy undervalued assets while selling overvalued ones.
After gaining some experience and starting to engage in high-volume trades, consider practising technical analysis. This objective research aims at reading live crypto price charts to understand the market direction and interpret price trends to trade cryptocurrencies effectively.
Technical analysis is best suited for short-term research, but it helps you develop a knowledge base for long-term research. That’s why technical analysis is important for long-term investors, although it can be a little time-consuming.
When you’ve spent the time researching your crypto investment options, now it’s time to decide which projects to subtract from your list. Remember that for a project to check out, it will need to have the right tools. That means powerful resources, a capable team, and a reasonable plan.
Other additional factors you need for your project to succeed include having all-start advisors or proof of concept.
Thankfully, if a crypto project proves to tick all the right boxes during your research, then it's likely it will turn out to be a solid investment for you. However, nothing can be certain when trading crypto because even the best projects flounder at times.
Create a FREE account and...
Manage your own Watchlist
Access all education lessons
Converse with other crypto enthusiasts
Be a part of the Interactive Crypto Community
ALL
TRENDING
WATCHLIST
Total Market Cap The Total Market Capitalization (Market Cap) is an indicator that measures the size of all the cryptocurrencies.It’s the total market value of all the cryptocurrencies' circulating supply: so it’s the total value of all the coins that have been mined.
{[{ marketcap }]} {[{ marketcapchange.toLocaleString(undefined, {maximumFractionDigits:2}) }]}% (24H) {[{ marketcapchange.toLocaleString(undefined, {maximumFractionDigits:2}) }]}% (24H)
Symbol
Price Cryptocurrency prices are volatile, and the prices change all the time. We are collecting all the data from several exchanges to provide the most accurate price available.
24H Cryptocurrency prices are volatile… The 24h % change is the difference between the current price and the price24 hours ago.
Trade
{[{ item.name }]}
{[{ index + $index}]}
{[{ item.pair.split('_')[0] }]}
Ƀ{[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]} ${[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]}
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
Symbol
Price Cryptocurrency prices are volatile, and the prices change all the time. We are collecting allthe data fromseveral exchanges to provide the most accurate price available.
24H Cryptocurrency prices are volatile… The 24h % change is the difference between the current priceand the price24 hours ago.
Trade
{[{ item.name }]}
{[{ index + $index}]}
{[{ item.pair.split('_')[0] }]}
Ƀ{[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]} ${[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]}
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
Binance´s Launchpad Gears Up Tor Arkham Token Sale, Starts Recording BNB Balances
4 months ago | Benzinga
Arkham´s New Crypto Intel Trading Platform: A Game Changer For Traders?
4 months ago | NewsBTC
Bitcoin Could Rise to $120K by End-2024: Standard Chartered
4 months ago | Coindesk
Bitcoin Edges Lower; Bone ShibaSwap Becomes Top Loser
4 months ago | Benzinga
JustBit Casino Review
JustBit Casino, which specializes in virtual currencies, is easy to use because withdrawals are expl...
Huobi Token General Overview
Is Ripple The Cryptocurrency of 2021? - In Depth Review of Ripple XRP
Ethereum Classic Review
Monero General Overview
YouHolder
YouHodler is not just another player in the crypto space; it's a dynamic and innovative company ...
XBO
XBO.com cryptocurrency exchange redefines how you interact with crypto. Designed to make the benefit...
Bithumb
Understanding Bithumb This article highlights what is Bithumb and where it is located. It also di...
Bitstamp
Bitstamp's continued success in the crypto market This article highlights what Bitstamp is. I...
Bitfinex
Bitfinex general overview delves deep into its operations since its inception in 2012 up to date. It...
(adsbygoogle = window.adsbygoogle || []).push({}); Introduction In t...
(adsbygoogle = window.adsbygoogle || []).push({}); Einführung Wenn es um Er...
Mobi
Are you someone who makes international payments regularly using Bitcoin? Or do you travel a lot and...
Bitcoin.com
Bitcoin.com is a free downloadable Bitcoin wallet that allows users to trade and receive Bitcoins. T...
BTC.com
Created by Bitmain in 2016, BTC.com is a leading open-source Bitcoin and Bitcoin Cash storage platfo...
Do Your Own Research: Things To Look Out For When Trading Crypto
Do Your Own Research (abbreviated as DYOR) is a golden rule used by crypto enthusiasts before...
Monero, Bitcoin Cash and Bitcoin Price Analysis
The major cryptocurrencies are still moving sideways. Concerns over Trumps tweets have weighed...
The Main Reason Banks Oppose Cryptocurrency
In recent years, big banks around the world are beginning to see cryptocurrency as a threat. In...
Amazon Acquires Streaming Data Marketplace Patent With Potential Bitcoin Application
Amazon, the internet retail giant, has successfully acquired a patent for a streaming data...
(adsbygoogle = window.adsbygoogle || []).push({}); Introduction In t...
(adsbygoogle = window.adsbygoogle || []).push({}); Einführung Wenn es um Er...
Mobi
Are you someone who makes international payments regularly using Bitcoin? Or do you travel a lot and...
Bitcoin.com
Bitcoin.com is a free downloadable Bitcoin wallet that allows users to trade and receive Bitcoins. T...
BTC.com
Created by Bitmain in 2016, BTC.com is a leading open-source Bitcoin and Bitcoin Cash storage platfo...
COMMENTS (0)