0:00 Intro
2:19 A Personal Message
3:15 Step 1: Market Activity
4:48 Step 2: Initial Research
8:50 Step 3: From The Source
10:39 Step 4: Double Checking
13:26 Shoutout To Sponsor
14:30 Step 5: News And Roadmap
17:24 Final Thoughts
🕵️♂A Personal Message🕵️♂
Every time I make a video, I see comments from you guys asking me to cover other cryptocurrencies and crypto projects. Believe it or not, many of these cryptocurrencies and projects are usually on my to-do list already. The problem is that I alone can’t cover all of them in a timely manner
The crypto market never sleeps, and this means that sometimes you can’t be waiting for me to cover your favorite cryptocurrencies. And now that we are the start of a bull market, this leaves me with only one option and that’s to teach you the ways of DYOR
Do Your Own Research (DYOR) is regarded as one of the most important aspects of being a cryptocurrency investor.Learn more
📈Step 1: Market Activity📉
When you hear about a promising cryptocurrency that piques your interest, the first thing you need to do is go to a website like CoinMarketCap or Coingecko to see if its alive. Be sure to check that the trading volume and price action are legit
📕Step 2: Initial Research📕
Watch a few YouTube videos and then pay a visit to Messari, Binance Research, and an ICO tracking site like ICO drops. When you use these resources, be sure to take notes and write down any questions you might have.
You aren’t trying to get answers yet, you are just trying to get a primer.
Keep in mind that the information you see here can be outdated, and it’s best to compare and contrast the information between the sources. This is especially critical for ICO funding and tokenomics. Be sure to jot down the names of any key individuals involved
📺Step 3: From The Source📺
Watching interviews with the founders and CEOs of a cryptocurrency project is often the best way to understand it and measure its potential. Be sure to double check their credentials using LinkedIn, as its common for projects to hype themselves up based off inflated credentials
This is where you should be able to answer most of the questions you had earlier and get further clarification about any components of the cryptocurrency tech that you had a hard time understanding. A lot of the information you get here can’t be found anywhere else, which is why interviews are crucial
📑Step 4: Double Checking📑
go through and check that everything you learned still applies and solve any mysteries that might have arisen since you started your research. Most of this can be easily done by digging through the cryptocurrency’s dedicated docs
If you’re lucky, you’ll have a friendly search bar where you can just throw in key terms like: tokeonomics, inflation, ICO, consensus mechanisms, mining, staking, and other topics you feel you still don’t fully understand. Don’t be intimidated by any code you see – look for the plain English explanation
📰Step 5: News And Roadmap📰
Skimming through the headlines of a cryptocurrency project’s blog is usually more than enough to get a sense of whether its been true to its word and where its headed. Read any updates you see that are significant, such as tokenomics or any big partnerships
Finally, pop open cryptocurrency news sites like CoinTelegraph, CoinDesk, and Decrypt and search to see whether what your promising project is up to has made the headlines. If you don’t find anything, don’t take that as a bad sign.
