How trustworthy is Kickstarter?

Kickstarter is responsible for providing a safe and reliable platform for our users. This includes creating clear rules for creators and backers who use Kickstarter, and monitoring our site for compliance with those rules.

Can I lose money on Kickstarter?

Creators will still receive the balance of collected funds, less fees, even if the final amount falls below your project’s funding goal due to dropped pledges. Kickstarter will only collect fees on the funds that we are able to successfully collect.

What are the risks with Kickstarter?

Risks of Kickstarter

The campaign may not successfully fund.
The project timeline may have to be extended.
The creators may request additional funds.
The project may never be fulfilled.
You get to support a small business.
You get first access to the rewards.
You get a chance to receive stretch goals or add-ons.

Do people get their money back from Kickstarter?

As Kickstarter does not offer refunds, we encourage backers to investigate the project idea first, to vet the creator thoroughly, and to assess the inherent risk of the project for themselves before making a pledge.

Can you ask for a refund from Kickstarter?

Kickstarter is a platform that connects creators with their backers, and it doesn’t hold funds. That means that Kickstarter can’t issue refunds. Your only option is to request a refund directly from the creator in question if the project funding is already completed.

Do you have to pay back Kickstarter backers?

Funding on Kickstarter is all-or-nothing. If the project falls short of its funding goal, no one is charged. If a project is successfully funded, Kickstarter applies a 5% fee to the funds collected.

What is the most funded Kickstarter ever?

Fantasy author’s publishing campaign is now the highest-funded Kickstarter ever

Brandon Sanderson’s publishing campaign is now the highest-funded project in Kickstarter history.
The campaign has secured more than $20.8 million from 84,600 backers in just three days.

Do you pay taxes on Kickstarter money?

In general, in the US, funds raised on Kickstarter are considered income. In general, a creator can offset the income from their Kickstarter project with deductible expenses that are related to the project and accounted for in the same tax year.

What is the highest paid Kickstarter?

Brandon Sanderson’s publishing campaign is now the highest-funded project in Kickstarter history. The campaign has secured more than $20.8 million from 84,600 backers in just three days. The previous record holder was a smartwatch that generated $20.3 million in funds back in 2015.

Which of the following are some suspicious activities associated with crowdfunding?

Although qualified fraud is a rare situation within the scope of crowdfunding, the most common example of fraud is through false platforms and collecting money for counterfeit and non-fraudulent companies.

What is the most successful Kickstarter project?

In March 2015, Pebble’s second smartwatch project completed its crowdfunding and publicity run with 20.34 billion dollars raised in Kickstarter pre-order funding, becoming the most successful Kickstarter project as of July 2021.

Is Kickstarter legit or scam?

Probably most people use the money they get from backers for something legit but those who do not are free to just walk away with the money. Kickstarter is nothing but a web based money exchange and they clearly have no moral backbone nor interest in keeping it honest and legal.

Are people getting what they were promised on Kickstarter?

From the comments on Kickstarter site besides myself it seems many people aren’t going to get what was promised. I backed two other projects; one is so far behind schedule I fear I will lose these monies too and while too soon to tell on the other they are also making noises about quality and shipping issues.

How much does Kickstarter take from your money?

All or nothing: The “all or nothing” philosophy at Kickstarter encourages donations and minimizes donor risks. Nearly half of Kickstarter projects get funded. Fees: Kickstarter takes 5 percent of each donation if a project meets its goal, with a third-party processor collecting between 3 to 5 percent.

What brands use Kickstarter to build their businesses?

I was happy to help some name brands build their businesses, such as Peak Design, Moment, and Fellow. Sadly, Kickstarter has turned into the preferred platform for scam artists and fraud over recent years.