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Cryptocurrency-Based Bidding Made Simple with 247Bids – Lowest Unique Bid
247 Bids is an innovative platform that offers cryptocurrency enthusiasts an opportunity to combine their passion for digital currency with exciting auction formats to win digital currencies at a huge saving!
One of the exciting auction formats is the Lowest Unique Bid auctions and that’s what I want to share with you today!
In a lowest unique bid auction, the bid that is the lowest and unmatched when the auction closes is the winning bid. To win an auction, your bid must be globally unique. Bidders are generally able to place multiple bids and the number of current bids at each amount is kept private.
| Value | Number of bids | Comment |
| $1.01 | 21 | Not Unique |
| $1.02 | 6 | Not Unique |
| $1.03 | 2 | Not Unique |
| $1.04 | 18 | Not Unique |
| $1.05 | 5 | Not Unique |
| $1.06 | 1 | Lowest Unique Bid |
| $1.07 | 1 | Unique, Too High |
| $1.08 | 7 | Not Unique |
| $1.09 | 1 | Unique, Too High |
| $1.10 | 2 | Not Unique |
In a Lowest Unique Bid Auction, as show from above example, the bidder who submitted the single bid of $1.06 would win the auction, and would be eligible to purchase the product or service for $1.06, because their bid was the lowest unique bid.
In this type of auction, the bids of other participants are kept a secret until the auction has closed, although we will provide broad guidance following a bid, such as whether the winning unique bid is higher or lower than one’s last bid.
Keep an eye on the auction, even if the system shows you have the lowest unique bid, others still bidding may find a new low unique price.
For more information, including video tutorials on how it works please visit them at: https://247bids.com/
