Avoiding Crowdfunding Scams-Some Suggestions
When it comes to crowdfunding, there is no such thing as certainty. You are not certain that you will get all the money you pledge on a specific campaign like Kickstarter or Indiegogo even if they might seem like the real deal. Most of the crowdfunding websites only require that the ones creating them offer some certainty that they will deliver on their promises. Hence, they cannot face any consequences in case their project does not meet their deadlines or even deliver.
There are several things which can go wrong between funding a project and the delivery of outputs. The creator might not have indicated the right time they needed to complete the project. Issues in manufacturing might result in long delays while some project might not succeed as their owners might receive a lot of funding which they do not manage well. In other cases, things go wrong despite the creator of the project giving their best. Hence, any crowdfunding project always involves an element of risk. But, below we discuss some tips that can help you in making smarter choices when supporting crowdfunding projects.
Some ideas are simpler to execute than others. When you spot a creator requesting for funds on the internet for their project, you have to carefully evaluate the idea to see if they can execute it easily. Search for real pictures of the actual product. If all you observe is the rendering of the product, you should take caution. If you note that the project is complex, there is a higher likelihood that it might fail. But, this should not be the only factor you use to assess the validity of a project as the most complex crowdfunding projects are the ones that are most exciting.
Another pointer is conducting … Read More