BitStarter helps you raise Bitcoins funds for your project. Projects range from your own Bitcoin startup, music, film, art, design, food, publishing or other fields - furthering creativity worldwide. We use Crowd Funding to help you raise Bitcoins.
HOW BitStarter WORKS
BitStarter helps you raise funds via Bitcoins for your project! Anyone, anywhere can create a project profile detailing what they plan to achieve with the Bitcoins they raise.
Project founders promote their project to potential pledgers, who then invest Bitcoins into the project, over a period of time, till the the funds accumulate and the Bitcoin amount is raised.
The project profile will include two important sections:
1. Bitcoins Raised - to meet the Target amount for the project.
2. Rewards - the benefits Pledgers receive for their Bitcoins contributions.
It is the responsibility of each project founder accepted into the BitStarter program to reach their respective Bitcoins target amount.
Why should I Pledge Bitcoins to a project? There are a number of reasons you may want to contribute Bitcoins to a project:
To help support any international or local community, business, project or industry you believe in;
To receive a unique Reward from the project founder (see below);
To help support this new form of international, anonymous currency;
To help a friend launch a project;
Or just for the fun of it!
Is there a project funding target end date? BitStarter offers the project founder/project 30 days to raise its Target amount.
What happens once the Target amount is raised?
Once the target amount is reached, it is transferred to the project's Bitcoin payment address. The project will then begin to distribute its Reward directly to all pledgers who contributed.
What if the Target amount is not reached? If the Target amount to be raised is not reached within the 30 day time period allotted, the entire Bitcoins raised will be returned to the pledgers in full. BitStarter uses ClearCoin for all transactions.
Can you raise more Bitcoins than the Target amount? Sure. The project will stay available for Bitcoins contributions until the 30 day time period allotted is reached.
Is there a Maximum or Minimum target amount? No, there is no maximum or minimum amount. The project founder determines what target funds amount needs to be raised for the project.
PLEDGING FUNDS
How do I pledge Bitcoins to a project? Once you have decided on a project you would like to contribute Bitcoins to - hit the “Bitcoin this project” button - take the payment address provided and enter the amount you wish to pledge into a Clearcoin escrow service. BitStarter will be notified of the payment and will hold it till the full target amount is raised. Once the target amount is reached it will be released to the project founder at the end of the 30 days.
Who can pledge funds? Anyone who has a valid Bitcoin payment address can pledge funds. To signup click here.
If I pledge when will the funds be withdrawn from my account? Your Bitcoins pledge will go to Clearcoin and remain in escrow until the project target amount is raised in full - after which your Bitcoins pledge will be released.
What information will the project founder/project receive about the pledger? The project founder/project will receive the minimum information necessary to work with you as a Bitcoin pledger and ensure that you receive your Reward, as such your name, email address and the amount of Bitcoins you have contributed.
Will I be notified once the project reaches its Target amount? Yes, once the project reaches its Target amount the project founder and all pledgers will receive separate email notifications.
Can I pay by check or cash? No, we only accept Bitcoins.
Can I withdraw money from my project balance? Yes, you can withdraw Bitcoins from your project account balance only after your target amount has been reached and the project has been released as completed.
REWARDS
What is a Reward? The project founder will issue a Reward (or gift of goods or service) to the pledger for assisting with funding the project. Examples of rewards include t-shirts, downloadable CDs or files, postcards, etc.
How do I create a reward? Once you have applied for and have been accepted as a project founder/project your reward(s) will be displayed on BitStarter's project profile page.
How do I redeem my reward(s)? Once the project has been completed the project founder/project is solely responsible for distributing all rewards to pledgers in the format agreed upon between the parties. What if the project needs more information about the reward (i.e., t-shirt sizes, etc.)? The project founder/project is responsible for contacting the pledgers by email if any further information is requested or required.
Who is responsible for ensuring rewards are delivered? The project founder/project takes full responsibility for ensuring that all pledgers receive their rewards.
PROJECTS
A project profile on BitStarter helps you market your idea(s) and project to potential project pledgers willing to contribute Bitcoins funds. It's your opportunity to showcase your startup, music, film, art, design, food, or any other creative project to potential pledgers.
The more interesting, fun, and worthwhile your project the more interested someone may be to help contribute Bitcoins funds. We recommend you write a compelling, concise project profile that highlights the project goals and rewards to help you get your project off the ground and running.
How do I apply to receive Bitcoins funding? You need to submit an applicationto receive Bitcoins funding. You will be notified once your application is received.
Who can apply? Anyone can apply to BitStarter. However, we do have some guidelines and every project request will be reviewed to ensure genuine, honest and legal projects appear on our site.
What currencies does BitStarter accept? Our site only allows projects to receive Bitcoins.
Can I create more than one project simultaneously? No, you can have only one active project at a time.
Is there any type of project that cannot pitched? BitStarter reviews all projects that come in via the application process. We reserve the right to refuse a project that is not legal or that we believe is inappropriate.
Can project founders increase or decrease the Target amount to be raised after the project is published? No, once the project is live on our Website the Target amount to be raised cannot be changed.
Can I invest in my own project? Yes, absolutely.
What are project updates? A project update is a way for the project founder to provide an update on the progress of the project.
Can projects be shared on social networks? Absolutely, we encourage that you share your project on social networking sites. You will find that BitStarter offers quick links to Twitter and Facebook on every project page making it easy for you to share your project.
Do you have any tips on producing a project video? Coming soon, check back for updates.
Is there a BitStarter widget for promoting projects? There will be soon, check back for updates.
Does BitStarter charge fees? It is free to register a project to receive Bitcoins funding. When a project successfully reaches its target amount BitStarter will automatically deduct a fee of 1 BTC from the project.
CONTACT US
BitStarter is on Twitter, check us out at www.twitter.com/bitstarter. BitStarter also has a Blog in development.
To request information, new features or submit ideas for improvements, please email us at [email protected] or let us know via your contact form.