Raising money
How do you raise money for your idea?
Say what you'll make, set a goal that covers what it really costs, pick a deadline and offer a reward people would pay for. Then tell the people who already know you. On CoFunders you can do it as an individual, with no company and no application, and a campaign can go live the day you write it.
Is crowdfunding right for your idea?
It suits something people can picture and want: a product, a book, a game, an event, something for your town. It works best when you can promise a reward, deliver it, and name the people who'd tell a friend.
It's a poor fit for an idea nobody can see yet, or a business that needs money for years before it makes anything. In reward crowdfunding, people pay for what you'll make, not for a share of you.
What do you need before you launch?
A title, a story a stranger can read in 30 seconds, a cover image, a goal, a deadline and what a backer gets for each pledge. Write the whole page before you launch. The first days bring most of the attention, and a half written page wastes them.
On CoFunders you create an account in about a minute, fill in a four step form and put the campaign on chain. We don't ask for a company registration, and there's no committee to wait for.
Can you raise from anywhere?
Where you live matters more on some platforms than on others, and turning digital dollars into your own currency depends on your country. Availability by country shows who can raise, back and be paid where.
How does the money reach you?
Every pledge is held the same way, and the rules bind you as much as your backers:
Your pledge sits in an escrow account the program controls, not in a CoFunders account. Under the program's rules, only the creator can claim a campaign's funds once it reaches its goal, and only you can take your pledge back if it misses. The program can still be upgraded, and today one key we hold can upgrade it (see /security).
So you can claim once the amount raised reaches your goal, even before the deadline, and in parts if you like. Claiming has no platform fee.
Do you pay tax on it?
Usually, yes. Reward crowdfunding is normally treated as a sale before delivery, not as a gift. We don't give tax advice, so ask an accountant in your country before you launch. Tax, in more depth.
What does it cost to start?
Opening a campaign costs $5 on the free plan. After that, each pledge pays our fees, so what reaches your goal is a little less than what backers pay. How much crowdfunding costs goes through every fee.
Your next step
Start with the number. The goal planner turns what you need into a goal that covers the fees, and how to set a goal explains each part of it.