For other ,the bounty is indeed a lower risk.But we need to carefully choose the bounty.Some of them are just scams that waste you time.
This depends on the amount of profit you want to have. If you want low profits to just enjoy and not loose the money you put in as investment, do some investment in small coins with not a huge risk factor.
Bounty campaigns also look nice in this case and the probability of loosing is very low as compared to the probability of making the money. But a high risk also means a high profit and this is very visible in the top coins in the market and this high risk could also be lowered by many ways.
Talking about bounties, I have been doing bounties for a while now, and I can say at least, I have never had the problem of being a part of a scam bounty, and I have never really ended up with a failed ICO as well, but I do my due diligence just as any investor would do. In most cases, even if the team is legit, I want to see the prospect, because I have more to lose when it comes to time. For a legit team, if an ICO ends up unsuccessful, they get their funds back, for bounty participants; it is just a sorry case.
With everything in life, there is always a risk still the knowledge you have when it comes to managing those risks is what makes you different from those who does not have the knowledge and will always give you an edge. Anything at all from trading, investing, bounty hunting and so on, the risk will always be there.