You will definitely loose money if you put your money in Passive earning schemes (e.g. Bitconnect). Stay away from them. Trading is difficult and sure as hell could make you money.
If you want to get the passive income, best option is through Funding the Margin Traders by providing Liquidity from exchanges like Bitfinex. You can make as much as 0.03-0.1% daily.s
Investing in ICO is okay in terms of Risk given you are investing in them after a long and thorough survey. Without survey and Looking into project Technology and Team's dedication to work.
90% of ICOs will fail in long run. So either get out early or Find the ICOs which are here to stay otherwise You will end up holding the bag of Sh*t when the Bubble Burst. Yes. ICOs right now in Bubble. Accept that and work your way around, You can stay longer than most of the people making money.
Really no doubt about this as a whole lot of them are just there on exchanges without any product and nothing to offer to the community except for those who want to risk their money in pump and dump activities which most of those coins or tokens only offer.
For someone who really want to invest in ICO, it would be better to invest in good projects that would at least make some impact and not just some useless coins that would end up dead.