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i prefer lvl 0 on most of my GA...i dont like restricting GA (but i dont judge those who do)

I would recommend always doing at least level 3 giveaways if you don't want your experience to be hindered by casual users. Level 3 means they've invested a bit and are more likely to have read the rules. Personally I wouldn't limit my giveaways if I didn't have bad experiences with users who don't quite know or care how the site works.

if i feel that a game i am giving away is worth some more effort i give it a level restriction, if it's not, then i don't - simple as that in my case.

I'd say that you should just experiment and try something from all options. But if you are interested in another opinion: Consider what kind of giveaways you enjoy yourself and consider to adapt and share the love. ;)

If you should mostly join level 0 GAs, create some of those. If you should later prefer joining GAs with higher level restrictions, because they offer better odds: Create some of those too. If you like GAs which remain open only for 1-2 hours, because they also grant you better odds: ... well you should get the message by now. :-D

Personally I'd pretty much always use level restrictions for public GAs. The better the game, the higher the level restriction.
I vary everything else. Some stuff for groups or whitelists, those usually open for a week without any further restrictions.

What you should ALWAYS do though: Check if your winners played be the rules. Use sgtools to see if they activated all their previous wins etc.

If you make a giveaway for < lvl 4 there is a 20% chance that you are going to wait days till the winner marks the game as received. They log into steam (play CS:GO ofc) and steamgifts but will probably ignore the fact that they won something just because they don't care for the game.
Most people enter giveaways just for the +1 in their steam library.
If you want your games to be played try making higher level giveaways. LVL 3/4/5 are the best choice if you ask me. (though I make mostly private GA-s)

If I make a general giveaway, I usually want at least level 1, because, seriously, it's such a low barrier, anyone can make it quite easily.
If I'm making a puzzle GA, I usually have no requirements - anyone who solves it, deserves an entry

People have given their opinions on this, but really it all comes down to what you want to do. Go ahead and try different options and see what feels the best. Can always change it up again later. Whatever makes you the happiest when creating giveaways is what you should go with. Happy gifters are good for the site.

If you are curious what levels others have chosen, you can see from the community stats page, if you scroll down a bit, the number of all the giveaways per level that has been created here.

Edit: Fixed link.

I don't know if it helps, but I'll gonna tell you that I do mine high levels to avoid problems in a general way. leechers can be very rude or selfish sometimes for whatever reason. For example, I saw my friends doing low levels giveaways and ending up with a (false) negative feedback because they asked for reroll (winner has multiple wins). I also saw people telling that key wasn't working when friend just bought it. so, low levels is a bad deal to who is trying to avoid problems.