Friday 17th of March 2023."Before you put a cent on a project have you done your DYOR ?" ~ David Maxwell
Hello everyone, how are you all doing? Hope you are enjoying your stay exploring readdotcash?. Am enjoying my stay exploring readdotcash am feeling happy to see my blogging colleagues coming back gradually.
What comes to your mind when you hear something like "DYOR"?. Do you think about the fashion designer label lol or you think about something else love to hear your thoughts about that kindly drop them on the comments box.
DYOR in full means "Do your own research". It a statement mostly used by investors and traders, the statement is sometimes said to tell an individual to carry out his or her own research before doing something probably investing on a particular project.
Last month on Telegram I meet a man from Pakistan who is now my friend. He told me last week about a particular minning project he said lot of stories to drive my attention into investing on the project but i don't pay attention to him because i thought of different things like he could be a scammer or something I said to myself.
He said that the minning project is unique that if i put a $100 on the project that I will get up to a thousand of dollars worth of Tron (TRX). I said am not investing on the project so he went ahead to put a hundred of dollars on the minning project without carrying out his own research.
Today I checked my telegram account, I saw his message he told me that the site is a big scam that he lost 100 of dollars and some of his colleagues also. I laughed at him, I told him that he should have perform DYOR before investing.
He asked me what is DYOR, I said you should have "do your own research" before putting your money brother. He felt so sad about his loss but I guessed he learnt his lessons in the hard way.
It a big risk when it comes to investing on a particular project cause you can either gain or lose. In other to have peace of mind that your money are safe you must do your own research.
Doing your own research (DYOR) about a thing, will make you understand clearly what the thing is about, how the thing works and more. Investing without information is a big risk cause anything can happen anytime. When your bags are full with more information about a project there is no room for loss for instance investing on real estate with adequate information will make you understand how real estate works and how will you earn by investing with them.
To get the best you have to work for it. Before investing create your time to carry out information about what your are about to do. Make sure the information you are getting are from verified source that provides real fact about a particular project. Let say my friend took his time to carry out his DYOR on the project he invested in he won't get his funds burnt.
Do your own research before investing. Try to take your time, ask others, search for verified information about a particular project before investing. There are lot of scam project out everywhere we all need to open our eyes wider so that we won't get scammed. Get stick to the process doing your research before investing.
This all for today, I hope i will be able to come out with another blog for tomorrow.
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That is a must if you want to have a less risky trading experience. Reserach more as you can so you will never doubt at the end.