How do I know if a crypto company is legit?

As a keen investor in the cryptocurrency space, I'm always on the lookout for reliable and legitimate companies to invest in. But with the influx of new players in the market, it's become increasingly challenging to separate the wheat from the chaff. So, how do I know if a crypto company is truly legit? I've heard of checking their registration and licenses, but what else should I be looking for? Are there any telltale signs that a company might not be as reputable as it seems? And most importantly, how can I protect myself from falling into the trap of scams and frauds in this highly volatile industry? Your insights would be greatly appreciated.