Crowdfunding Sites with No Fee.

No fee Crowdfunding sites are the next big thing when it comes to funding. It gives you more reasons to be a part of this new exciting phenomenon and raise money for new startups. Additionally, the Crowdfunding Bum Platform successfully provides financial support to new startups via built-in backers. Crowdfunding Bum is the new avatar of online funding and support for potentially promising startups. This is because it offers built-in backers, no platform fee and free pitch write-up by our experts for busy entrepreneurs.

Read this article to know more about what crowdfunding sites like Crowdfunding Bum are all about and things you should know before you start.

What are Crowdfunding Sites?

Conceptually, crowdfunding is a concept to raise funds and donations for new projects and potentially promising startups. Interesting enough, the size of such startups matters less, rather, it is the concept that appeals to the backers.

Due to an increasing popularity, quite a few online crowdfunding sites are operating successfully . Since no fee crowdfunding sites are mostly done via online communities, there is a strong buzz around integrating social media and advertisements to attract more business ideas like built-in backers to fund them.

Things to know about Crowdfunding Websites.

Not all funding communities are strictly professional in nature like some that are devoted to promote startups such as Crowdfunding Bum. Keep in mind that the main theme of these crowdfunding sites is to generate money for new business proposals through interested backers. Still, there are a few things you should know about what crowdfunding sites are all about. Some of them are:

• Know the basics about no platform fee.

• Crowdfunding Sites are where backers meet Startup founders.

• Caution is the key.

• Chance of frauds is likely on other sites

• Not all startups are successful at attracting built-in backers.

1. Know the Basics about no platform fee

The first thing you should know is that crowdfunding sites as a concept has a huge potential. Even today, there are many crowdfunding sites that are operating throughout the world. Some focus on a particular industry while others are more interested in open projects. In short, the possibilities are infinite. Whether you are an entrepreneur or a keen innovator, you can save big money by being a part of a crowdfunding community that doesn’t charge you a platform fee.

2. Where backers meet Startup founders

Every crowdfunding site has its own dynamics, some like Crowdfunding Bum focus on startups while others like Gofundme focus on individuals. However, every crowdfunding site operates with the sole purpose, to pair the Campaigner with the Backer. Hence, Crowdfunding Bum built-in mechanism does so on autopilot.

3. Caution is the key.

Every donation is potentially risky, and is more so on online crowdfunding sites. You never know whether you have donated in the right project or not. Ironically, a small percentage of donations are often lost to fraud. Crowdfunding Bum believes that their platform is safe from scammers since it’s not in the nature of a scammer to give. This is why Crowdfunding Bum requires every campaigner to give a small percentage of what is raised as a pay it forward donation.

4. Fraud is likely on other Crowdfunding sites.

As the saying goes, “Where there is money, there is fraud”. This is true in the case of crowdfunding platform, but Crowdfunding Bum could be the exception to the rule. No matter how secure a crowdfunding site is and how many safety protocols are in place, the possibility of a fraud is always there.

5. Not all Startups are Successful at attracting built-in backers.

Keep in mind that a failed startup isn’t necessarily the result of a fraud. Some startups, despite their potential and proper use of funds, couldn’t sustain the pace they started with. As a result, few promising startups end up in failure. There is no conspiracy here as this is quite common in crowdfunding communities, and is considered as a norm in the corporate world.

Once you understand these 5 points and act accordingly, you have increased your chances of taking advantage in the crowdfunding sites communities of your choice.