Bid on items, get them at 1% of their original price

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Buzz about BidforX

I’ve taken part in online auctions before and wanted to give BidforX a try. Be it setting up the account, depositing money, bidding on a product, or setting auto-bid; everything was so easy and simple.

Ravi Kiran

I couldn’t believe when I won the Mi Band 2 for Rs.4.23! I just tried BidforX on a whim and boy! Was I surprised. And I also received the product on time. Why pay more when you can bid, right?

Anirudh R.

FAQs

• How to Add Bids ?

  1. Login and Click on 'Add Bids' at the top right of the homepage.

  2. Enter a UPI ID to associate to your Bidforx account.

     Note: Funds transferred from UPI ID and UPI ID enter during Add Bids should be same .

  3. Enter the INR amount you want to deposit..
  4. Click on 'Generate Transfer Details'.
  5. Transfer the money from the UPI ID associated to your Bidforx account to the UPI ID shown. You can also scan the QR code provided to expedite the transfer.
  6. Once done, the amount you deposit will reflect as 'bids' in your Bidforx account.

• What are different types of bids on BidforX?

  On BidforX, we have two types of bids:

  1. ‘Bids that you buy’ by depositing money into your wallet.
  2. ‘Bids that you earn’ via sign ups, referrals, cashbacks and more.

• What are the features of BidforX Wallet?

  You can view the total number of bids in your wallet by accessing your ‘Profile’, and your BidforX wallet has three sections:

  1. Section for withdrawable bids, which stores the Bids that you buy. You need a minimum of Rs. 100 in your ‘Withdrawable’ balance to withdraw the amount.

  2. Section for non-withdrawable bids, which stores the Bids that you earn.

     Note: All the bids you earn via cashbacks and promotional offers are credited in the ‘Non-withdrawable’ balance. You cannot withdraw this balance into your bank account .

  3. Section for holding bids that you ‘Allocate to Auto-bid'

     Note: The bids that you allocate to Auto-bid, will first deduct bids from the ‘Non-withdrawable’ balance in your wallet, and then deduct the bids from ‘Withdrawable’ balance, in case your ‘Non-withdrawable’ balance doesn’t have sufficient number of bids.

  At any point of time:

  Number of ‘Withdrawable bids’ + Number of ‘Non-withdrawable bids’ + Number of bids ‘On-hold for Auto-bid’ = Total number of bids in your wallet.

  Now let us understand this with an example:

  Suppose,

  Total number of bids in your wallet = 100

  Number of ‘Withdrawable’ bids in your wallet = 50

  Number of ‘Non-withdrawable’ bids in your wallet = 50

  Now let’s say you want to allocate 75 bids to Auto-bid for any product, first off, 50 bids will be deducted from your ‘Non-withdrawable’ balance, and the remaining 25 bids will be deducted from your ‘Withdrawable’ balance.

• How can I avail my cashback?

  Let us talk about how cashbacks works on our platform. Take a glance at the cashback policy table here:

  AMOUNT INVESTED	2X CASHBACK	10% CASHBACK
  (Slab 1) Less than 5% of MRP	0% of your spend	0%
  (Slab 2) 5-10% of MRP	20% of your spend	10%
  (Slab 3) 10-40% of MRP	30% of your spend	10%
  (Slab 4) More than 40% of MRP	50% of your spend	10%

  Note: To claim your ‘Cashback’, go to ‘My Offers’ where you can find a list of all the auctions you participated in, along with their respective ‘Cashback’ offers.

  2X Cashback

  Let us assume that you spent Rs. 60 (qualifies for Slab 4 cashback) in an auction. So your claimable cashback amount is Rs. 30 (50% of Rs. 60 as per Slab 4).

  But the good news is that you can actually claim Rs. 60 instead of the cashback you are eligible for i.e Rs. 30. All you have to do is add just Rs. 30 more to receive Rs. 60 worth of bids in your ‘Non-withdrawable’ balance. Double, right? Hence, the ‘2X Cashback’.

  Note: If you don’t wish to claim 2X Cashback, you can claim flat 10% of your spend, as per Slab 2, 3, and 4.

  Exclusive 100% Cashback

  Folks! Now this is where it gets really exciting. To give you another huge reason to 'bid & win' we have select products with 'Exclusive 100% Cashback' offer. Yes, H-U-N-D-R-E-D!. Read More

• What are Auto bids?

  Auto bids help you keep bidding even when you aren’t in front of your screen. The bidding process is automated as per your specifications. This gives you a shot at winning an auction effortlessly.

  For eg: If you want to buy a TV worth Rs. 2,00,000, you can set the bidding frequency to, say, every 7 seconds, and a maximum budget for the auto-bid as ₹2,000. We will automatically keep placing bids on the TV until the total spend reaches ₹2,000.

  This will ensure you remain the last highest bidder for an auction till your specified budget is there. And the system will further ensure those bids are placed optimally.

• What product categories do you provide auctions for?

  We provide auctions for different product categories, starting with Electronics. We will also conduct a poll to identify categories where there is more user demand and bring them on BidforX

• What vouchers do you provide? How do I use them on other sites?

  BidforX provides vouchers with which you can do two things:

  • Send it to other users on BidforX as a gift, just like e-vouchers from Amazon. They can redeem them on their BidforX account.
  • This voucher can also be used as a collateral on some other sites. For example, a website is giving you INR credit or some points in their system, keeping this voucher as collateral. The list of websites and the process will be mentioned in the voucher section soon.

• Are the items of good quality? Where do you get them?

  The items are original and are delivered to you from websites like Amazon, Flipkart and Tatacliq. So you can rest assured on the quality of the same.

• How do you make profit if you’re giving items for cheap?

  We make money from our partners. So a partner like Amazon, Flipkart, and Tatacliq pays us when an order is made from their website.

  When users don’t succeed in winning auctions and opt out of the discount, the total amount they have bid is an additional source for us.

• How to increase my chances of winning an auction?

  The auctions are strategic in nature. You need to optimise your budget and bids in a way that you can be the last bidder.

  BidforX is bringing a novel way of auctioning to Indian audiences. We care for our users and wish to build a trustworthy experience for our users where they can transact. Hence all products are procured from reliable brands like Amazon, Flipkart and TataCliq. This novel auctions empower Indian users to get their wish fulfilled by getting an opportunity to get what they want at 1% of their price.

• I added bids to my BidforX wallet but bids were not credited. What can I do?

  First off, please make sure that the UPI ID you enter in the ‘Add Bids’ popup and the UPI ID that you use to carry out the transaction are SAME. No bids will be credited if you carry out the transaction using any other UPI ID.

  It may take up to 15 minutes to credit bids in your wallet. We request you to be patient till then.

  Note: In case you deposit money using a wrong UPI ID, kindly send a screenshot of the transaction window, which essentially includes the transaction reference ID. We will try to resolve the issue as soon as possible and credit the amount in your BidforX wallet.