We say so much about the importance of doing our research before digging into any investment opportunity. And, that's what the whole DYOR trend is all about. However, this same practice needs to be adopted in all other areas of life especially when it comes to acting upon the information we got from questionable sources.

The big question here is... How do we differentiate 'questionable sources' from genuine sources?

That's a big headache and I know this because it's really hard to trust the information hitting the airwaves at the moment. Even the so-called media agencies go on to publish news that turns out to be made up. So, it's not so obvious that what we see as 'fake news' are only coming from unlicensed sources, social media click hunters or some bloke in the street who enjoys cooking up stories.

A huge proportion of fake news also appears on the pages and channels of reputable media outlets. Sadly, the probability that people are going to fall for any news coming from such agencies is already high because the majority of us assume that the agency is trustworthy.

This assumption hurts us badly and that's what we are experiencing in the exchange rate front between the price of Dollar and that of Naira, our local currency in Nigeria. News got released that our currency is being devalued against USD and the next minute, lots of people jumped into Binance and started selling their USDT.

It was crazy because the panic selling on the part of USDT holders forced the price to sink for a while until a follow-up article got released to debunk the initial devaluation claim. That was when traders became a house divided amongst themselves.

Nobody knew what to believe and what to debunk. Whatever happens, going forward, it's already obvious that so many people lost huge money due to this and that is just a snippet of what can happen when 'news agencies' prove to be untrustworthy.

Well, it's time for us to be more careful and do our due diligence. If you consider the negative impact fake news can have, you will agree that taking an extra step to fact-check and vet information before acting upon them would surely count as a good idea.

It's time to wake up, folks.

Thanks For Not Missing Any Full-stop Or Comma
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