it's the same risk involve with crypto generally including BTC but BTC is just way safer, I have seen people losing 6 figures to Luna and some Defi projects, first of all try to understand what you are going into, many don't know how risky crypto space is, take risks with what you are ready to throw away.
The risk of investing in cryptocurrencies are not the same at all, bitcoin is the safest, Altcoins like litecoin and ethereum are better than many altcoins. There are some altcoins that should be avoided. What happened to luna is just like a ponzi to me, many altcoins are existing successfully. But you are not wrong, it is good to take risk with what you can afford to lose. Bitcoin is much more safer and the best because it has been the only currencies that even two countries has adopted as a legal tender and also getting more recognized than others as it is more decentralized.