Risks are everywhere, but for newbies specially scams are more dangerous than actual risks. Scammers trap those newbie and take their money saying they would double triple their money which never happens. Don't fall for any pyramid scheme or lending platforms. Don't invest in any ICO just because someone said to invest in that, do your own research, find out everything possible about that ICO before actually investing in it.

Some other risks involved are wallet hack through phishing emails or links. Malicious softwares which can steal your keys/passwords. Selling your coins desperately because it has fallen in value.

In the end I would say, everything needs experience, everything needs patience and everything need your knowledge/your work