How to Do Your Own Research (DYOR) in Cryptocurrencies?
First of all, I am no expert in the Crypto industry and am still a newbie, who is eager to learn. If you are also new in the industry and are ready to learn you can contact me at the below-given contacts. In case of any difficulties/corrections in this post, you can contact me any time.
The crypto industry is booming right now and gaining the attention of millions of people each day. It is a technology more accessible and getting better every day. But since it is booming, there are a lot of scammers out there that just want to take your money and run away with it. To avoid this, I’ve made this post.
There are websites, resources, videos on YouTube, and much more than you think just under the radar. So let’s talk about some of the resources that might help you do your own research.
To start with any cryptocurrency start reading its whitepaper and make sure it does have a roadmap/future planning of the project. Check their website for their socials and make sure they’ve valid contact details and verifiable information. If the developers have a great background but the project doesn’t provide a good enough solution, you might have to back off from it from an investment POV.
However, coins like DOGE and SHIB have great communities which drive the project further. SHIB also has an active (external) project which ‘burns’ the SHIB hence allowing lesser volume to trade and to hopefully increase its price in the near future. Please do make sure to do your own research before investing from any Telegram, Instagram or YouTube channel. You can also text me on my below given contact details.
Best Resources to Do Your Own Research in Cryptocurrency:
The best and simplest educational channel so far has been Whiteboard Crypto for me. They use simple terms and illustrations that can help you learn even the toughest of the terms quicker than you think. They use simple language and don’t bother you with too deep technical jargon. They also have a video on the same topic and can greatly help you with the process.
Now the next best website will be isthisccoinascam.com although, they have not listed all the projects out there since the sheer number of the projects will be really hard to cover and nearly impossible for any website to cover. But you can actually find a lot of information about the project, its grade (according to various parameters like market capitalization, market volume, trading volume, the overall development of the project, the community, and overall sentiment, and a lot of other factors). You can also find the socials of the project (unless the project hasn’t revealed it on their own which in itself says a red flag sometimes).
Next up, we have bitscreener.com which can be really helpful to check the overall performance of the cryptocurrency respective to the exchanges it’s being traded on. You can also find the latest news, tweets, Reddit discussions and use multiple predictions for your research and all of it with technical analysis at the same time.
Further, cointobuy.io is yet another website that’ll help you do the hard work. Each cryptocurrency will have its own investment analysis that can help you figure out whether it is worth investing or not.
And lastly, coindar.org is yet another website that is worth mentioning. So far I’ve only looked at the above websites and will soon be reviewing the websites individually. Stay tuned for more crypto related content and remember; Never say no to learning in the crypto space.
To conclude, don’t blindly follow any YouTube channel, website, Telegram, or Instagram that looks flashy and promises you 100x return overnight. Always remember that in the world of crypto “If it sounds too good to be true” it should be too good to be true. Do not fall for such scams and actively participate in the communities before investing in any kind of project. The above resources are to help you out for researching a particular project.