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What do you know about crowdfunding? - 8/18/2023

Crowdfunding is raising money by asking many people for small (or large) amounts of money. This can be done for a charity, a relief effort, a business venture, or any other goal that needs money for it to be achievable.

Some popular crowdfunding sites are GoFundMe, Kickstarter, and Indiegogo but there are many more out there. Different crowdfunding platforms may focus on different purposes. For example, GoFundMe is typically used by individuals to raise money for various purposes such as personal or community financial support. Kickstarter is most often used by businesses and entrepreneurs to fund a project or product. Indiegogo is fully international.

If you are interested in creating a crowdfunding project, then you need to look at these sites and others to determine which platform best suits your situation. The differences between them include type of user, purpose for the money, fees, and when and how the funds are released.

Before you contribute to any crowdfunding activity, make sure you know the purpose and expectations of your contribution.

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