Bid4cc is a cryptocurrency bidding website similar to eBay. Find out how it works today in our review.
What Is Bid4cc?
Bid4cc.com is an auction website where you can bid on various coins and digital tokens. At the time of writing, the website featured an auction for 1,000 Ripple, another auction for 1 Litecoin, and other auctions for Bitcoin Cash and Dash. Both of the maximum bids were under market value for the cryptocurrencies.
Bid4cc was launched on November 27, 2017. The goal is to become the world’s first cryptocurrency auction website.
One of the unique things about Bid4cc is that all bidders have the chance to win more money simply by making unique bids. If you make a unique bid on the website, then you’re entered into a chance to win large amounts of bitcoin, Dash, Litecoin, or Bitcoin Cash.
The company is registered in the Cayman Islands.
How Does Bid4cc Work?
Bid4cc is a unique bidding platform that doesn’t work like your traditional auction website. Unlike traditional auctions where the highest bidder gets the prize, the platform will only conduct reverse auctions. Bidders need to bid as low as possible, and the winning bid has to be unique.
On the Bid4cc.com auction site, you’ll find auctions for bitcoin, Bitcoin Cash, Dash, Ripple, and Litecoin. The website plans to conduct daily, weekly, and monthly bidding sessions.
Bid4cc also claims it won’t make a profit by charging transaction fees. Instead, Bid4cc plans to make money based on the number of bids. A new bidder will get five free bids, for example, but will need to pay for any bids after that (you might pay 1 Bid4cc credit for one bid, for example). As of November, bidders can get 100 bids for about 0.003 BTC.
Registration for the website is free of charge. After registering, you get 5 free bids. Once your free bids are used, you’ll need to buy more bids at the following package prices:
- 100 Bids: 0.003 BTC
- 250 Bids: 0.0061 BTC
- 650 Bids: 0.012 BTC
Bid4cc advertises the following features:
- Daily, weekly, and monthly auctions
- Cryptocurrency transferred to your wallet within 48 hours of winning
- Guaranteed winners for all auction types
- Customer support available
How To Win An Auction On Bid4cc
With eBay and other auction platforms, you win an auction by submitting a higher bid than anyone else. That’s not the case with Bid4cc. Instead, the lowest bid always wins – as long as that lowest bid is unique. That means when you bid, there are four unique outcomes:
- You bid the lowest amount, but it’s not unique
- You bid a number that isn’t the lowest number, nor is it unique
- You bid a unique number, but it’s not the lowest
- You bid the lowest number and it’s unique – you’re the winner
Obviously, this is different from traditional auction systems. On the Bid4cc website, you can see the timeline for each auction to be completed. It doesn’t seem like you can see competing bids, however. At the time of writing, auctions were taking place for Bitcoin Cash, Litecoin, Ripple, and Dash, with the retail price of each item listed on the website.
Who’s Behind Bid4cc?
Press releases for Bid4cc have listed the company’s leader as Mukund Joshi, described as the “Business Head” of the company. Bid4cc is registered in the Cayman Islands.
The platform is a licensed property of Crypto Gen X Ltd, or CGX. There are several “Mukund Joshi” individuals listed online, although we can’t find any that are publicly involved in Bid4cc based on their LinkedIn profiles. The only search results for “Crypto Gen X Ltd” come from the Bid4cc website.
The Bid4cc domain was registered in November 2017.
Overall, Bid4cc claims to be the first online auction platform for the cryptocurrency industry. Instead of an ordinary auction website, however, where the highest bid wins, Bid4cc will give the product to the lowest bid – as long as that bid is unique.
It’s a unique system. New members get 5 free bids before they need to purchase more bids. To learn more about how Bid4cc works, visit online today at Bid4cc.com