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Rachel Welch

10 November 2022 50 Read Crypto

How to Do Your Own Research in Crypto

One way to do your own research in crypto is to look for credible sources. While you can get opinions from people with zero authority in the field, you are better off relying on people who have a strong following and spread sound information. Here are a few sources you should check out:

DYOR

Do Your Own Research (DYOR) is an important aspect of investing in cryptocurrencies. This type of research involves using a number of sources and tools to determine the current state of a particular cryptocurrency. It is important to remember that, while crowd-sourced information is a great tool for identifying cryptocurrencies that have high potential, it does not necessarily indicate that a particular cryptocurrency is a good investment.

To start, you can use fundamental analysis to determine the current value of a crypto asset. This involves analyzing its business practices, roadmaps, and marketing strategies. You can also review its development and network activity. This will help you determine if the project is worth your money and whether it is competitive with other projects.

Finding reliable sources

Doing your own research on crypto is important if you want to get the most out of it. This means looking at a variety of sources and determining which ones you trust. Paid advice is not the best source of information, because often it is not reliable and is biased. Instead, look for sources that offer both sides of the story. The best crypto sources will give you a balanced view of the subject, and will explain the pros and cons of a particular crypto.

As with any industry, there are a number of scams and fraudulent actors operating in the crypto space. Beware of people who claim to be experts but aren't telling you the whole truth. It is important to do your own research, starting with forums, social networks, and websites like Coin98 Insights. Depending on others' opinions is a recipe for disaster, and may even lead you to make the wrong decision.

Reviewing a whitepaper

When you are doing your own research in crypto, it is vital that you read the whitepaper of the cryptocurrency you are interested in. These documents explain the goals and plans of the crypto project. A poorly written whitepaper can be a red flag and should be avoided.

Reviewing a whitepaper before investing is also vital in determining the legitimacy of a crypto project. Many scam projects start off with a perfectly good whitepaper but later reveal their true intentions. As such, it is important that you read as much of the whitepaper as you can before making a final decision.

Joining a crypto community

Whether you are interested in a particular coin or the whole blockchain, joining a crypto community is an excellent way to find out more. The community will share ideas and thoughts and can help you get the most out of your research. You can ask questions about a particular coin or service and get an instant response. In addition, a community will allow you to network with like-minded individuals.

It's also important to note that there are no specific rules or commandments in the crypto community. You can find information about a certain coin or community on forums or online. In addition, popular cryptocurrency websites have large followings and often give balanced opinions. As a result, you will be able to find the most accurate information from these communities.

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