The Culture Of "Doing Your Own Research" (DYOR) And How To Practice It.

Over the years, one of the most important lessons I've learnt from my involvement with the crypto industry is to "Do your own research" and not follow the crowd or take financial advices from random people on the internet. The culture of doing my own research has is already imbedded in me to the extent that before I invest or get involved with any cruptocurrent, project or even people in the space, I do some background checks, read articles, do quite alot of digging(depends on how involved I'm going to be) and make sure that the decision to invest or get involved was completely mine and I wasn't pressured or influenced.

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Doing your own research may appeal to be a tough ans hectic process and this is why many people in the space become victims of scams, rug pull and other illicit activities. It might seem like a lot of work for them and even essential steps like reading the white paper of a project or terms and conditions are skipped by a large population of the crypto community. Yes, it's not simple, but it's totally worth it as over 99% of all projects in this space are either scams or are built to exploit their users.

And when it comes to doing my own research on people in the space from the community builders to developers, potential clients and influencers, I didn't think it was so important until after spending some time in the NFT space. There were times when I got messages from random accounts requesting they were interested in my works and wanted to strike a deal, but then I found out they were scammers trying to feast off ignorance and exploit unsuspecting victims in the space.

No amount of research is too small when it comes to your time and money and so carrying out your research diligently, ask the right questions, not ignoring the red flags, looking beyond the hype and taking your time to learn about a crypto or projevt goes a long way on saving you some losses ans mental stress as most projects with flaws show their flaws soon enough.