Wednesday, 12 February 2014

How to fund your project online with Gittip crowd funding system

GITTIP is a cool system wherein you can give away cash tips to people who inspire you. This works well particularly for individual bloggers or small companies. The intension is to help individuals or startups pay their bills. Also, since bills are recurring, the tip system is weekly.

Giving -
You need to select people who inspire you and set an amount for them. This amount will be transferred from your Gittip account to the target's Gittip account every week. Gifts come out of your Gittip account balance (the money people have given to you), and if that's not enough, Gittip can charge your credit card to make up the difference.

Checkout -
For US participants, funds can be deposited to their bank accounts weekly. For non-US people, payouts are manual, as of now.

Gifts are public. The total amount you give and the total amount you receive is displayed publicly. Altough there is an option to hide the amount you are giving publicly.

Policy of gifts is "no strings attached". Even if you are receiving $x per week, there is no obligation for you to pay them back.

Maximum amount that can be transferred to one person per week is $100 and minimum is $0.1

Gittip itself is funded on Gittip!

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