- Q) What is cryptocurrency?
- A) It is a purely digital form of money. Read more at wikipedia
- Q) What is crowd funding?
- A) Its a way to launch new projects using the power of the crowd to fund them from donations.
- Q) Why only use cryptocurrencies, doesn't that limit the funding potential?
- A) Crypto currency currently amounts to a $140 Billion dollar market (& growing). There is huge potential there. Also, using only cryptocurrencies means funds move quickly & cheaply, and many limitations are avoided as we are not handling fiat money.
- Q) How do I fund a project?
- A) It is so easy to do. Find the project you like. Enter the amount you want to donate & click donate. You don't even have to log in or register with the website. So simple :)
- Q) What happens to my funds that I donate?
- A) If the project you are donating to is "time based" then your funds will be sent to the project when the end date arrives. If you are donating to a campaign that has a target amount, the funds will be sent to the project ONLY when the target amount is met. If this target is NOT met, we will refund the amount of cryptocurrency to you that you donated.
- Q) So we are donating crypto and not dollars?
- A) Yes, exactly, however to avoid confusion, each project uses $ for its funding.
- Q) What happens if I donate $100 of Bitcoin (0.05BTC) and then I get refunded $50 worth of Bitcoin becase the BTC price has dropped?
- A) You donate in crypto, the projects are funded in crypto, and you are refunded in crypto. If you donate 0.05 BTC, we receive 0.05BTC, and if you get a refund you will be refunded 0.05BTC. The dollar value of your coin only applies at the time of donating.
- Q) How do I start a crowd funding campaign?
- A) Just click "Start Crowdfunding" on the home page and fill in the easy to use forms & start promoting your project!
- Q) I've started a crowd funding campaign, but it says I only get 95% of the fund. Why?
- A) The 5% is our fee to help us set up & maintain this website. Without charging a fee we will be unable to pay our bills and help sustain this project.