Tips on How to Avoid Crowdfunding Scams

Crowdfunding3.jpgNowadays, cases involving crowdfunding scams have increased greatly. If you intend to support a community project through crowdfunding, but you are not sure if it is genuine or not, you can refer to this article. Discussed below, are tips that can help you to know if a crowdfunding project is genuine or not.

Performing a Thorough Background Check

The most common mistake people make when it comes to crowdfunding is failing to carry out a thorough background research. Before you donate any money, you should research more about the people involved in the crowdfunding campaign. It would not be advisable to donate your money to a crowdfunding campaign project, which is headed by people that have been accused of fraud before. Make sure that the crowdfunding campaign you donate your money to, is led by people that have a history of organizing successful and legitimate campaigns. In addition to researching about the people involved, you should also find out more about the crowdfunding platform. It would not be wise to get involved in crowdfunding projects, which are carried out on questionable platforms. Check out this worst triton gills scam or view here for more tips on how to avoid them.

Listening to What People Say

Asking for people’s opinions can also be a great way to tell whether a campaign is genuine or not. It would be best to ask for opinions from people that have taken part in crowdfunding projects before. It would not be a good idea to support a campaign that is deemed to be illegitimate by many people.

Consulting Regulatory Bureaus

The increasing cases of crowdfunding scams have led to the formation of bureaus that focus on handling cases of crowdfunding malpractice. Before giving any money, you should consider consulting any regulatory bureau near you. With the help of a reliable bureau, you will stand at a better chance of determining whether the crowdfunding campaign you want to support is genuine or not.

A Campaign’s Objectives

Before requesting for donations, leaders of crowdfunding campaigns must share the objectives they want to achieve. Assessing a campaign’s objectives can go a long way in determining if the campaign is legitimate or not. Most times, campaigns that are based on unrealistic goals, which seem to be too good to be true, often, end up being illegitimate. Thus, watch out for a campaign’s objectives.

Crowdfunding scams can discourage you from giving donations. However, failing to donate is not the best solution. The only effective solution is to know how to tell whether a campaign is genuine or not. With the tips outlined above, you can be sure that you will not fall victim to crowdfunding scams. You can read more on crowdfunding here: https://www.huffingtonpost.com/entry/how-crowdfunding-has-influenced-start-ups_us_59d2182ce4b034ae778d4c24.

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