We humans, being materialistic want our money to start multiplying as soon as we are adults with ease. Some of us choose to invest the same in various platforms or lend then on interest. Some choose a way naming Crowd funding.
Let us know what is Crowd Funding?
Crowd funding means collection of assets from various financial specialists through electronic media or social media for a distinct goal. Such goals could be ventures (for example, music, film, book production) or kindhearted or open intrigue cause (for example, cooperative activity) or a business purpose. Those who are in need of funds can fulfill their requirement from number of small financial contributions.
In India Crowd Funding is of five forms.
- Donation/Social Lending Crowdfunding: In this type of crowd funding contributions are made as gifts or donation with no rationale of any arrival. E.g.: social, artistic etc.
- Pre-order Crowdfunding: This is a legal form of Community crowdfunding in India. In this the investors contribute their funds aiming to get something in return.
- Reward Crowdfunding: This is a kind of reward scheme where finance is remitted with the target to get future or existing tangible reward.
- Debt Crowdfunding: In this form Peer to Peer lending takes place where lenders/investors with borrowers/issuers matches an online platform so as to give unbound credits and the loan cost is set by the platform.
- Equity based Crowdfunding: It is illegal in India. SEBI considered it as “unauthorised, unregulated and illegal”. It refers to early stage funding by offering equity shares in the business to online investors.
There are many sites like Kickfurther, SeedInvest, and Crowdestor which provide access to startups that are in lack of funds. You have to sign up with your investment account with the reputed investment crowdfunding platform. For the sign up process you need to fill your personal information and bank account information. Different platforms accompany with various minimums. Some platforms like Crowdestor provide ‘zero investment fee +100% buyback guarantee’. The scheme of zero investment fee works with the borrowers paying the same while getting funds for their projects for their investors.
Though the investment process with Crowdestor is seriously a couple of clicks away, one still needs to follow a specified procedure and a few specifications including age, bank account ownership, etc.
Following are the criterions that one must give details about, in order to access the services provided by the Crowdestor:-
- The investor has to be aged 18 years or above.
- He should provide his address details accurately.
- Date of birth, contact number, and email address.
- Personal identification documents.
- Bank information
- The minimum investment amount limit: EUR 50.
- PS: You must also have a bank account in some European or EEA Bank from Iceland or Norway. It is only then that you could invest your money through Crowdestor.
The signup procedure for investment if as follows:
- Sign-up to register for Crowdestor through your facebook, google account or email address.
- Give details of the following: residential address, DOB, Contact details, email, documents of personal identification, bank details and the PIN code for transaction approval.
- Choosing the project, you wish to invest in. And in a click and it’s done.
Crowdestor has also worked towards the steps to secure your investment amount if in case, the firm goes out of business. In such a situation, you do not lose your money, despite the firm going down the post by keeping your money with Crowdestor Security Agent, separate from that of the company.
If you ask me personally, my review for the Crowdestor definitely ends on a positive note especially when my money is assured with 100% Buyback guarantee and a great percentage of return. It has also been successfully providing ways of low-risk investment and 100% recovery during the firm’s odd hours. So, Crowdestor is definitely a thing to go for.
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