Do your own research
Online, especially in the social media space, you might come across the term DYOR, which stands for “do your own research.” People use this acronym to suggest others to verify information independently, be it about a cooking technique or health-related topic. Nonetheless, it is most frequently used in discussions about cryptocurrencies.
DYOR is a common term in the world of digital currencies where the market is mostly unchecked. This means that both creators and buyers of a cryptocurrency can manipulate it in various ways. One such method is a ‘rug pull,’ where the creator suddenly withdraws all of their money from the currency. Another trick involves pretending that a certain digital currency is backed by famous personalities to inflate its value.
Experienced investors often advise newcomers to the crypto game to DYOR to avoid falling into scams, particularly when an offer related to a new coin seems overly attractive. However, this term can also be used by dishonest players who hope that the researcher might stumble upon incorrect information that convinces them to buy.
Example for using ‘DYOR’ in a conversation
Hey, have you heard about this new cryptocurrency called MoonCoin? It’s supposed to skyrocket in value!
DYOR, bro! Don’t just believe everything you hear. Do your own research before investing.
Yeah, you’re right. I’ll look into it before making any decisions. Thanks for the advice!
No problem! It’s always better to be safe than sorry. Let me know if you find anything interesting.
Related Slang Words You Might Be Interested In
| Slang | Meaning |
|---|---|
| ACV | After coronavirus |
| Q4 | Fourth quarter |
| Womxn | 'Womxn' is another way to say 'Women' |
| ULKGR8 | You look great |
| Heather | Someone who is highly wanted or sought after |