Investing always follows the corollary of high risk yields high reward.  Most of the time you will not be able to get a great project below the price the coin/token ICO's for, almost never.  Of course this is going to give the highest amount of potential gains, but is also the riskiest time to invest.  I do think that if you do good enough research and there is a working product for the project that this is the best way to invest.  But you need to do your own very thorough research as the ICO phase is the riskiest phase to invest in.