I have being into this crypto business for some time and almost all what I joined have turned out to be scam projects. What a friend told me was to read the whitepaper and know the idea behind the project before I join the ICO. I have done it several times and it all failed. Now i want to know that, is there any criteria for selecting a best ICO or people just select it in a lottery form that when it hits the moon they also profit from it?
Reading the whitepaper alone is not an assurance that an ICO is legit. There are lots of things to consider like the devs working behind the project, what the project can offer to the public, is it realistic enough to be used in the real world?, does it have many supporters or real people participating in the telegram?. There are lots of scammy ICOs now so better do your own research regarding the project that you wanted to invest. You can check this link on how to spot a scam ICO. It has already been discussed in here and it might help you spot one and avoid being scammed.
https://bitcointalk.org/index.php?topic=1963768.0
