Features needed in a crowdfunding website

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What is a crowdfunding website? 

Crowdfunding websites are a new concept that is used to raise funds for some projects or issues. These funds are raised from a group of people who may be your family, friends, customers, investors, or funders. The practice of raising funds from a group of people for some specific project via the internet on a platform. This platform is created or designed by website developers. The development of crowdfunding websites needs a proper strategy which requires marketing and proper PR. There are so many challenges in raising funds through crowdfunding websites. 

Here we will discuss primary types of crowdfunding websites. After that, we will discuss the characteristics of these crowdfunding websites and the features needed in a crowdfunding website. 

Primary types of crowdfunding website

In 2014, the crowdfunding center reported that there are two primary types of crowdfunding websites identified. These crowdfunding websites are:

Reward-based crowdfunding website

Equity crowdfunding website

Reward-based crowdfunding website

Reward-based crowdfunding websites are used mostly by entrepreneurs. This type of crowdfunding website has been used for a variety of purposes. These purposes include financing small startups, funding promotion of motion pictures, scientific research, free software development, and many more. Anyone can contribute to this type of crowdfunding campaign. 

How to create a reward-based crowdfunding website? 

The crowdfunding platform is used to start or create these types of reward-based crowdfunding websites. There are some most popular crowdfunding platforms for designing and starting these websites. These popular crowdfunding platforms are:

GoFundMe

Kickstarter

Indiegogo

Features needed in crowdfunding websites

Major features needed in crowdfunding websites are listed here. These featured are needed to create or design the best reward-based crowdfunding websites:

Build a good customer base as you raise funds for your startups or small businesses. 

Security should be better. The orders taken should be secure before launching any product. 

It must have simple concepts which everyone can understand. 

Repaid funds are not allowed on this type of crowdfunding website. 

Tight schedule. You have to fulfill all the promises you made during startups and deliver the products on time. 

2. Equity crowdfunding websites

Equity crowdfunding websites are crowdfunding investing or investment crowdfunding. This means that the startups or entrepreneurs use all the raised funds in this type of crowdfunding website, and the profits are distributed among the investors. All the investors have to buy the stakes of some particular startups, which is proportional to their investments. 

How to start an equity crowdfunding website

There are so many platforms that can be used to start or design equity crowdfunding websites. These platforms provide the best features needed in a crowdfunding website. The platforms to start or design equity crowdfunding websites are:

AngelLists

Fundable

EquityNet

Wefunder

Apart from these, there are also many more platforms that can be used to start an equity crowdfunding website. 

Features needed in crowdfunding websites

To start a good crowdfunding website, it must have these features. We must keep these features in mind before designing these crowdfunding websites:

These websites must be easier to access. It should have the potential to showcase a project on a larger scale by the entrepreneurs. 

Equity dilution must not be in the power of a company. It should create less pressure on the management. 

The returns should be lucrative. As we know, it is investment crowdfunding, so it needed outstanding returns. That's why the returns of these investments should be lucrative. 

Try to create and design crowdfunding websites with low risks. We can say creating an equity crowdfunding website is not risk-free. But it must be designed in such a way that it has a low risk of investment. 

These are the two primary types of crowdfunding websites. Now let's discuss what the features needed in a crowdfunding website are. 

Features needed in crowdfunding websites

To start a successful crowdfunding website, it must have these features:

Quick setup with easy to use application

The crowdfunding websites should be simple and easy to use. This application is used to raise funds from family, friends, or investors. So it must be simple and easy to use. If it is complicated, then the funders will not invest in this website. These websites must have transparent terms and conditions, which will allow investors to invest in them. The process of setup should not be complicated. It should be quick and simple so that everyone's age groups can easily sign up or set up this application. 

Account Management should be powerful and smooth.

No one wants to invest in weak and complicated account management. So, to start a good crowdfunding website, the website must feature some powerful, strong, and smooth account management. The management of accounts should be transparent and clear. The campaign should clearly show how much money has been funded yet, who has paid, who has funded what. These are the basic things that an account manager should keep in mind while managing the account. 

Secure payment gateways

The most important feature needed in a crowdfunding website is its payment gateways. Crowdfunding websites must have a secure payment gateway. The most trusted and secure payment gateways for a crowdfunding website are MangoPay, LemonWay, and GCEN. These are those trusted payment gateways for crowdfunding websites by professionals. 

Design proper business model

A good crowdfunding website bears a proper business model. So before creating a crowdfunding website, you must have a great business model that you should showcase on the website. Like if you are creating an equity crowdfunding website, you must have a risk-free business model. If you are created reward-based crowdfunding websites, you must have proper startup plans or projects. 

Best security and support

While designing any crowdfunding website, you must feature some best security systems. The website must have 24/7 customer support. These are the most important features needed in a crowdfunding website. 

Conclusion

Crowdfunding websites are designed to raise funds for any project, medical issues, or any small business. There are some important features needed in a crowdfunding website to make it the best funding platform. These features are listed here. If your websites have these features, then it must be a successful crowdfunding website. In this article, we have suggested the best features and tips for creating successful crowdfunding websites.

Features Needed In A Crowdfunding Website

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