How to spot a dodgy Kickstarter project

Crowdfunding is a simple but genius idea.

It allows creators to appeal directly to a demographic and raise funding for a product that typically wouldn’t be considered commercially-viable.

That also means you can get your hands on rare, niche items as a consumer that you wouldn’t be able to get anywhere else.

Unfortunately, because you’re handing your money over before receiving the product, it also makes you much more susceptible to scams.

Fortunately we came up with 5 tips to make sure you aren’t falling for a scam:

Treat crowdfunding like an investment- Just like the creator of the product/service you are liable for your investment.
How much experience does this team have? If this is a well-respected team or person working on a new Kickstarter you typically have much less to worry about than a bunch of no-names.
Physical prototypes – Is this still in the idea-stage or is this an actual physical product (even if there is only one of them)?
Delivery date – How certain is the release date? If a Kickstarter has a release date it means the team is more likely to be working towards a schedule than a Kickstarter which is just “coming soon”.
If it’s too good to be true, it probably is.

You have read 1 out of 5 free articles. Log in or register for unlimited access.

Read now