The differences between equity crowdfunding and debt crowdfunding: 1. Different project objectives. The project of equity crowdfunding is to obtain funds by selling equity, and investors become shareholders; the project of debt crowdfunding is to obtain funds by pledging assets for loans, and investors become creditors. 2. Taking responsibility is different. Shareholders of equity crowdfunding bear relevant responsibilities to the extent of their capital contribution. When the project is liquidated, they will have to wait until the debts are paid off before they can recover the part of the shareholder's investment, except for preferred stock equity; creditors of debt crowdfunding have the right to Get paid first. 3. The project balance sheets are different. Funds obtained from equity crowdfunding are included in owners' equity or capital reserves, while funds obtained from debt crowdfunding are included in liabilities. 4. The income methods are different. The income from equity crowdfunding comes in the form of shareholder dividends and distribution of equity; the income from debt crowdfunding comes in the form of payment of loan interest. 5. The income is different. The return is generally composed of risk-free interest rate return + risk premium. The risk premium of equity crowdfunding is generally relatively high, so the return is higher, while the risk premium of debt crowdfunding is generally lower, so the return is also lower. 6. Investment risks are different. The risk uncertainty of equity crowdfunding is relatively high, while the risk uncertainty of debt crowdfunding is relatively low because there is usually collateral and the rate of return is agreed in advance, but the specific type of debt depends on the type of debt.