Is Bidcactus a Scam?

Penny auctions have become very popular in the last year and have become an attractive opportunity to purchase high-ticket items at a very low price.  There are currently over 90 auction sites existing throughout the Internet each with their own prevalence in the market today.  Bidcactus is one of the two largest penny auction sites online today, making up over 60 percent of the market.  Because penny auctions are yet to be regulated, it is difficult to determine whether the practices and methods of bidding and winning are fair.  Because of this, users who are considering placing bids on particular sites should research a reliable Bidcactus review that is unbiased and strictly based on consumer experience.

Understanding how Bidcactus works is important to understand the full process of bidding and winning.  Many consumers initially joining penny auction sites are caught in the appeal of the chance to win high-priced items at pennies on the dollar.  What they must know is that there is no guarantee you will walk away with a new iPod or laptop, even if you spend several dollars bidding on the item.  Penny auctions all work very similarly with their own small twist whether it be the items up for bid, or the cost of bids.

Bidcactus allows members to register for free to view current auctions and place bids.  The costs associated with this service are in purchasing bidding credits.  These bidding credits cost 75 cents each, and are sold in bundles of 25, 50, 100, 250, and 500.  The more bid credits that are purchased, the more opportunities bidders have to win a posted auction and outbid other members.  Each item listed through Bidcactus is brand new in box and comes with the manufacturer’s factory warranty.  Each time a member bids on an item, one credit will be subtracted from the members account and the price of the auction will increase by either one or ten cents depending on the auction.

The auction will list the item, a picture of the item, the retail price of the product, and an auction timer.  The time of the auction will extend an additional 20-30 seconds each time a new bid is placed to allow for other bidders to make a final move.  The winner of the auction will be the bidder with the most current bid in the system at the time the auction expires.  At this time, the winner will be required to pay the current price of the ending auction to have the product shipped to them.

Bidcactus may be literally selling an item for $3.00 that costs as much as $200, however to money making of these penny auction sites comes from the cost of bidding.  The price of the item is essentially subsidized as all users who have taken part in bidding have paid to do so.  If 300 bids were placed on an item that retails for $150, the company is profiting overall.  Bidders who start being bid happy can easily spend $15 or $20 without even winning the product.  This is the gamble all users take with the zeal of penny auctioning posts.

Larger sites like this may not be swindlers; however, many people ask themselves, is Bidcactus a scam?  These larger sites are extremely difficult to win at for various reasons.  One reason people should look out for is the term shill bidding.  This means the site owner actively raises the price of the item and the bids on items by bidding themselves; although they do not want to win, they want a higher profit.  Larger companies including Bidcactus cannot easily keep the secret of shill bidding, so it is less likely to see these practices in Bidcactus or Bidrodeo.

Penny Auctions are great for those who like to take a gamble.  It can become just as addicting as slot machines or bingo because of the uncertainty and risk associated with winning the final prize.  While many, if not most, do not win a majority of their auctions, it could be that one that keeps you coming back for more.

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