Participation in ICO or investment at pre-ICO stage is a very risky step. Its just like purchasing a shop on 40th floor and the ground floor of that shopping mall is just start to build.
There are so many ideas/concepts is trying to prevail in the market but is there any formula to separate strong project from scams/weak projects.
Which scale should an investor use to go before investing in a coin? Is it the code, or the system it based, or their community strength, or is it depends on their venture capital that how much big it is?
I think you can consider that search first the projects before you invest many ICO's now are getting scam that is why many investor are afraid to invest. So think and search first the project before you gonna invest but you also consider that once you invest you take the risk.
Researching about the projects is really the first thing that you should do before investing your money because there are chances that you no one really know about it, so it is probably a scam or a fraud. Asking questions to other people or experts is also helpful because they have more experienced when it comes investing in a coin.