ICO pose a greater risk to investors than tokens that are already traded on the stock exchange. Because until the ICO is regulated, and there are many scammers who want to raise money from people for this idea, they will not implement the project. This is the first reason. The second reason why investor invests money in ICO, in other words, into the idea of the project, believing that they will implement the project. In fact, there is no finished product, there is only an idea in which we believe, and we are ready to risk investing our money.