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What is Crowdfunding

Turn off your eyes, think of which are the best memories of your childhood? Of course, your response will include playing in the field, chatting with friends and having fun in the summer holidays. Then you ask the same questions today and tomorrow’s kids what they like right now?

In most cases, you will find that their answers linked to gadgets, technology, and internet somewhere.

Such as playing games on mobile or computer, chatting with friends on WhatsApp and Facebook, or watching funny videos on YouTube.

It may be that in these days only these things fit for urban children, but smartphones and cheap data plans that reach every hand will make it the reality of every single child in the country.

Friends, most of the things in the world are becoming digitize just like childhood. And today I will talk to you about something which we call Crowdfunding.

What is Crowdfunding

What is Crowdfunding

Crowd means the crowd and funding means to gather money. So the simple meaning of crowd + funding is to collect cash or gather cash from many people.

It is not new. People have been offering small amounts to build temples and roads for centuries. In your locality, you may have collected donations for Ganesh Chaturthi, Durga Pooja, Holika Dahan, or any such festival, or you may have received funds for any NGO during schooling! It was all a kind of offline crowdfunding.

Example of India’s most successful crowdfunding is a 1977 film Manthan. To make this, 500,000 farmers contributed 2-2 rupees.

Maybe you think what kind of things to do with digitization?

So I can tell you that with the help of the internet today, people are raising money from various people around the world for multiple initiatives or personal benefits. And the process of gathering crowdfunding or capital was limited to a village or town; it has now become a global phenomenon.

If you are going to raise money for any work, instead of going to everyone’s home, you can talk to thousands of people simultaneously on social media and motivate to contribute to your project.

And I am making this work more comfortable, world wide web, hundreds of crowdfunding platforms on the internet.

What are Crowdfunding Platforms

These are a website where money-raising and money-making people can connect. On these platforms, you can collect funds by running a campaign for yourself or someone else’s needs.

What kind of work can we raise money from Crowdfunding Platforms

Through these platforms, you can raise money for things of a different nature, for example:

  • For social work
  • To implement a business idea (see some practical business ideas here)
  • For the treatment of a needy
  • To help someone in studies
  • You can also collect money to travel abroad or even launch your album.
  • So, those who have made such platforms on the Internet where you can raise money for your needs.

What steps will be taken to raise money

What is Crowdfunding

Step 1: Decide what you have to collect, how much money, how long will you receive. And its surroundings create your own story. How you keep your talk in crowdfunding is very important because on this basis people decide that they are willing to help you or not!

Step 2: Select the right crowdfunding platform according to your purpose.

For this, visit the website of the various crowdfunding platforms and analyze what kind of plans have been supported there. Have anybody raised money there for a similar purpose? If, ‘yes’ then your chances of being successful grow.

Step 3: Some information related to you from your fundraising goal will be sought on the website. Here you should be genuine and give accurate information. Never raise wrong information and raise money for any hidden purpose. Good crowdfunding platforms examine people who run the campaign and can also take legal action against those who are doing fraud.

Step 4: Create related photos, videos, website and other promotional content from your campaign and promote it through Facebook, blog posts and different ways.

Step 5: Continue monitoring the campaign and if any questions related to it arise, answer it immediately.

Step 6: And last but not the least, do not forget to say Thanks to those who help you.

What if I want to pay for a project

If you are one of those people who want to give your support for any reason, crowdfunding is a good way for you. You can pay by visiting any crowdfunding website and debit card, credit card or other methods for your favorite project. Some sites ask you to register before you make a payment, and you can pay even without registering anything.

India’s most known crowdfunding websites are as follows:

Ketto – This website runs the actor Kunal Kapoor. Over 10 thousand campaigns have been run on this. Those who run the attack on this website have to pay 12-14% of the full amount as a fee and pay gateway charges.

Milap – Apart from Donation Crowdfunding (donation), lending can also be taken as a lender. Overall, the fees are approximately eight percent of the total amount.

Crowder – This platform is operating in the US and India and is preparing for its global launch, founders of its founders believe that the person engaged in any good work should not charge fees. Due to this thinking, no service charge taken from those running the campaign on Crowdaira.

FuelADream – You can choose any of the options fundraisers all or nothing (complete or nothing) and Keep Who You Get (Those Who Keep It) on this website. Well, the fee is 9% of the sum deposited, but by adding 14% of the service tax, approximately one-fourth of the total amount taken as service charges.

Impact Guru – More than 100 camps have been done in 16 different countries on Impact Guru Impact Guru. Due to contribution to the international currency, the fee for this platform is 10%.

If you regularly visit live projects on these websites, you can help many needy people. These are all well-known websites and keep checking the campaign creators. Therefore, if you help someone through these websites, then you can be free to save your money in the right place and the right people.

Apart from these, many crowdfunding platforms are available in India. Through all the platforms of the Internet, these platforms are working to improve this world with every project, and now you can also become part of this revolution.

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About author

Hello Guys, My name is Sandeep Gautam. I am the founder of Indiatechmoney. I have done my masters from IIT Roorkee. My interest is in Business, technology, and blogging. I want to give the best information about the business, technology and blogging through this blog.
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