FAQ

Do not hesitate to send us an email if you can't find what you're looking for.

css1-) How to start bidding?

In order to participate in our auctions, you must first register. This is free and takes less than 30 seconds! Simply click the 'Bid Now' button. Assuming there is no technical malfunction, your bid will be recorded and your username will be shown as the highest bidder.

Bidding in an auction on bid4bit has some cost of BID4 Tokens. Each time you place a bid, tokens will be deducted from your remaining BID4 Token balance.

To maintain the highest bid, you will need to keep clicking the ‘Bid Now’ button whenever another user outbids you. Each bid raises the auction price by $0.01 to $0.10 and resets the clock for a maximum of 30 seconds.

Be the last to place a bid when the timer counts down to zero, and you win! Time is added to the clock whenever a bid is placed. This allows someone else the chance to bid if they want to. It's a lot like the "Going once, Going twice, SOLD!" approach of traditional auctions.

The amount of time added to the auction timer depends on the particular auction, and varies between 10, 20, or 30 seconds. Each auction ends when the timer reaches zero on bid4bit's servers.

css2-) Why is time added to the auction clock?

Because it's an auction! bid4bit wants to guarantee each user the chance to participate in our auctions, so we've adopted the timer as means of imitating the 'Going once... going twice... SOLD!' aspect of a traditional auction.

css3-) Can a user list an auction on the platform?

No, currently only the bid4bit company can list auctions.

css4-) Where can I purchase BID4 Tokens?

You can purchase BID4 tokens during Pre and Public Token Sale sessions. After the token sale campaign ends, BID4 Tokens obtained only through Referral Program and DEX/CEX exchanges.

css5-) I've won an auction! What do I do now?

Wow! Congrats on winning yourself a bid4bit auction.

First (obviously) you've got to pay for the auction's ending price. You may do this by clicking "Claim Now" at the Winning Bids page.

After winning an auction you pay the final auction price and that’s it! No processing fees.

You must pay for your auction win within 7 days of the auction ending. If you don't pay for your auction within this time frame, we'll assume you no longer want the item. Please contact us via Support ticket if you have any questions!

If You won an auction under $20 You can checkout via BID4 Token only. For more than $20 You can checkout via BID4 Token and other crypto currencies that we accept such as Bitcoin, Tron, and USDT etc.

All auctions offered on bid4bit consisting of digital items will be sent electronically to the Deposit Address You have shared on checkout. Delivery of Your won auction will be sent to You within 48 hours of the auction being paid in full.

css6-) I've placed a bid but I'm not currently the highest bidder, why?

bid4bit's servers order the bids based on the exact time they were clicked. There may have been other users who placed a bid immediately after you.

css7-) I just spent bids in an auction and didn't win. Can I retrieve those used bids?

Per the Terms & Conditions, bid4bit does not refund any bids used in auctions. However, you may sell any unused BID4 Tokens on any DEX and CEX exchange that listed BID4 token pair.

css8-) When will I receive my won item?

All auctions offered on bid4bit consisting of digital items will be sent electronically to the Deposit Address You have shared on checkout. Delivery of Your won auction will be sent to You within 48 hours of the auction being paid in full.

css9-) Why hasn't my bid registered on an auction?

Sometimes users report placing a bid that was not recognized by the auction in time to prevent the auction from ending. This is usually caused by internet lag times or data transfer delays between your PC and our servers.

Lag time most commonly occurs when certain parts of the connection are overloaded. This also might occur if you are using a slow Internet connection, or if the connection has been lost. We're very sorry that the bid4bit's servers did not register your bid in time.

Please read the tips below to help understand and minimize this problem:
While bidding, do not simultaneously download or upload large amounts of data (video, audio, software, or other large files) on the Internet.
Make sure there aren't too many people accessing your connection to the internet (i.e. sharing a Wi-Fi network)
Don’t wait until the last second to place a bid.
We recommend you bid at least 5 seconds before the timer reaches zero, and cannot guarantee your bid will be registered during the last seconds.

css10-) What happens if there’s downtime or an auction pauses?

Downtime is an unforeseeable setback that all online retail companies experience. During such times, users will not be able to place bids in an auction. After the issue is resolved, we’ll reset any time lost to each affected auction clock so that no users will be left at a disadvantage. Any auctions that ended because of the downtime will be refunded, and nobody will be awarded the item.

css11-) Is bid4bit considered a lottery or gambling?

No. Online gambling is illegal and bid4bit does not partake in this kind of activity. Gambling implies the uncontrollable element of chance, and because every auction on bid4bit is customer-driven, there is no act of randomness.

css12-) Does bid4bit have any bots or shill bidders?

No. bid4bit does not employ any bots or shill bidders. The use of such devices to drive bidding up (or for any other purpose) conflicts with our company policy. You are bidding against registered users like yourself. bid4bit does not deploy bots or shill bids to alter the outcome of any live auctions. Users can bid in multiple auctions simultaneously, so it's possible to see the same username in multiple auctions at once.

css13-) How much can I earn from referrals?

bid4bit offers a lucrative referral commission program, to both with users who are rewarded if their friends join the program and bloggers, YouTubers, and other content creators promoting the platform.

For each Bid one of your referrals makes, you will gain an instant 5% commission.

In your back office you will see very useful tools, to share on social medias your unique link easily with one click!

Referral commissions are credited to your account balance instantly. And are immediately available for withdrawal. Referral commissions are paid in BID4 Tokens.

css14-) I forgot my password or username. What can I do?

Click the "Forgot Password?" button on the login page. Once you click Reset Password, an email containing your username will be sent to you. This email will also have a link that will enable you to reset your password.

css15-) How do I change my username and email?

Unfortunately, your username and email address cannot be changed. When registering, please avoid choosing a username that could offend other users as your username will be visible to other users. If you notice a username that is offensive, please contact Customer Support, and we will work on changing it.

css16-) Are multiple accounts allowed within the same household?

There is a limit to one account per household/ip address. If you are operating more than one account, your account(s) will be closed and all bids and or wins will be deemed null and void.

Why do we do this? In order to keep a fair playing field for all users, we have found that having multiple accounts can provide an unfair advantage to other participants and obtain additional bids through our refer-a-friend program and free registration credits which is strictly prohibited.

bid4bit takes collusion very seriously as it is harmful to the customer experience; it is continuously monitored and not tolerated. bid4bit defines collusion as two or more user accounts working together in an auction. Failure to comply with these policies can result in disabled accounts and canceled orders.

css17-) Why I haven't received any emails?

If your not receiving any emails from us, it is likely the emails were marked as spam. Some email providers may mark our emails as spam or completely block them. Be sure to check your spam folder for emails about your order and make sure to add hello@bid4bit.io to your safe list.

css18-) How do I recognize a fake email about a request for payment?

Payments to bid4bit.io can only be made via the bid4bit's website, https://bid4bit.io Please don't respond to any emails or telegram message regarding payments.

css19-) My question is not answer here what should i do?

If you have any questions or queries, our helpful support team will be more than happy to assist you. You can send us an email here: hello@bid4bit.io, you can create a support ticket on Contact Us page, and you may reach to our team via official social platform profiles (Telegram, Twitter and Facebook).
Please describe your issue clearly and provide us with everything we need to help you. We want to help you! Please make it easy for us and you.