Why Do your own Research (DYOR) is Important?

As we all know, Cryptocurrency and Non-Fungible Tokens (NFTs) are still unregulated, so you need to be extra cautious when investing.

Investment goals are important. If you have no idea what your investment goals are or how much money you want to invest, it’s likely that this is not the right time for you to buy cryptocurrencies or NFTs.

Next up, figure out what kind of return on investment (ROI) you want from your investment in crypto or NFTs. This could include things like making money quickly or holding onto them forever without any risk involved — it all depends on what works best for YOU!

The easiest way to determine is to focus on the below points.

Do the fundament analysis and technical analysis to identify the main objective of each project & determine whether it is a good investment or not based on its fundamentals (Team, Smart Contracts & Team Members, Utility & Use-case)

The Community: This is a very important factor when choosing a crypto project. You should check out their community members’ profiles on social media: Facebook, Twitter, Telegram, etc

Be open-minded about what kind of business model works best for you — you may find it’s a project or an ICO that has a strong community or is backed by an established business, but not both!

Market Cap: Make sure that the market cap of the crypto project matches or exceeds what you’ve budgeted for your investment

Team (developers/advisors/partners): Find out who they are and how qualified they are in terms of experience/skillset; do they have past projects with similar projects? What are their roadmap and vision? Is there any competition in the industry? Are they transparent about where they’re going with their project? All these things are crucial when making an investment decision.

Analyze till you find the right connection.

Stick to trusted sources & get as many different opinions as possible. Continually educate yourself about the technology and markets.

Please share your thoughts/experiences in the comment section. Share if you loved it.

Stay tuned for more!

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