If you have been in the cryptocurrency space for a while, then you must have been told at least a few times to do your own research “DYOR”. Its simple to misunderstand how this work or even what it implies when its used not to tell you about how much you should understand about the project, but how easily misinformation and scams can spread.
So, how do you do your own research? For the most part, consider how often does someone that said “have you read the whitepaper” has done nothing but skim through it or how frequently does people say that “they have a great team/experience” or “great tech” only considering their past accomplishments and not understanding that not only that doesn’t guaranteed a good team or how can’t normal people can’t even read simple code, but that its often said by people that have an investment into it.
So, if you’re on this space littered with scams then the first thing to not focus only on whatever new and exciting technology they develop, but primarily figuring out if they are legitimate. Social media are hotbeds for many kinds of scams, you can be contacted on LinkedIn and telegram with all kind of propositions which often feel legit if not to good to be true.
You should always investigate what they send you, Double checking every piece of information and verifying it is what should be the first step on DYOR. After you can at least attest for them then you should focus on more fundamental issues like the volume/transactions, fake partnerships, ICO scams, pump and dumps and lastly the actual use case of the project.
Sad as it may be, research start by scrutinizing every little detail offhand before getting into the technology as most of the things you see out there are scams. As always, DYOR.