What is BID?

Introduction to BID

BidNow, launched in 2019, is transforming the auction landscape in Malaysia and beyond. Initially focused on real estate auctions, the platform has since expanded its offerings to include a wide variety of goods such as home appliances, gadgets, luxury watches, antiques, and more. With over 20,000 active users and 8,000+ real estate agents, BidNow has quickly become one of Malaysia's leading auction platforms. Now, with the integration of blockchain technology and the $BID utility token, BidNow is entering the Web3 space to offer a more secure, transparent, and efficient bidding experience.

How does BID work?

$BID is the native utility token of the BidNow ecosystem. As a programmable token on the blockchain, $BID offers several unique advantages over traditional loyalty points or store credits. Here's why $BID is a game changer:

• Programmable : $BID can be customized with specific features, enabling innovative use cases within the platform.

• Fractionalized : $BID can be divided into smaller units, making it easy to use for transactions of any size.

• Easily Transferable : You can move your $BID tokens across wallets or platforms, making it highly versatile.

• Interoperable : $BID can be used across different platforms and marketplaces, not just within BidNow.

• Secure and Immutable : Blockchain ensures that transactions made with $BID are tamper-proof and protected from fraud.

• Transparent and Pseudo-anonymous : While transaction records are visible on the blockchain, users' identities remain protected, allowing for privacy.

• Real-time Sharing : Transaction records can be shared with multiple parties instantly, ensuring everyone has access to accurate data.

What Can You Do with BID?

$BID is designed to enhance the entire BidNow experience. Here’s how you can use $BID within the ecosystem:

1. Pay for Auction Services : Use $BID to pay for auction listings, bidding fees, or other platform services like consultancy, financing, and renovations.

2. Loyalty Rewards : Earn $BID by engaging with the platform—bidding, selling, or using services. These rewards can be redeemed for discounts, exclusive offers, and more.

3. Exclusive Privileges : $BID token holders receive special benefits like discounts on private auctions, access to property transaction data, and higher commissions for real estate agents.

4. NFT Marketplace : $BID will also play a role in BidNow’s upcoming NFT marketplace, where you can buy, sell, and auction NFTs tied to real-world assets like real estate, art, and luxury goods.

Why Invest in $BID?

As BidNow expands into Web3, NFTs, and regional markets like Singapore and Indonesia, the potential for $BID to increase in value and offer a high ROI grows exponentially. Here's why you should consider getting involved:

• Quicker Exit Opportunities : As the platform grows and $BID becomes available on exchanges, there may be quicker exit opportunities for token holders.

• High ROI Potential : For well-chosen projects and platforms like BidNow, blockchain-based tokens have shown significant growth, offering potential for high returns.

• Community Engagement : By joining the $BID community, you’re not just a user—you’re part of an evolving platform, influencing the future of online auctions and Web3 technology.

How to buy BID on Hata

1. Create an Account : Sign up on the Hata platform by providing your email address and setting up a secure password. Verify your email to activate your account.

2. Verify Your Identity : Complete the KYC (Know Your Customer) process by submitting the necessary identification documents as required by Hata for security purposes.

3. Deposit Funds : Add funds to your Hata account.

4. Navigate to BID : Once your account is funded, go to Exchange and search for BID.

5. Place an Order : Decide on the amount of BID you wish to purchase.

6. Secure Your BID : After purchasing, ensure your BID is stored securely. You can keep it in your Hata wallet.

7. Monitor Your Investment : Keep track of your BID investment through the Hata platform. Stay updated on market trends and news to make informed decisions.

Conclusion

BidNow is leading the way in integrating blockchain with online auctions. By introducing $BID, the platform is offering users more than just a bidding experience — it's providing a secure, transparent, and rewarding ecosystem that can be accessed globally. Whether you're a buyer, seller, or investor, $BID opens up new possibilities for participating in the next generation of digital auctions.

DISCLAIMER & WARNING

The information provided here is presented "as is'' and is intended for general informational and educational purposes only. It does not come with any representation or warranty of any kind. This content should not be interpreted as financial, legal, or other professional advice, and it is not intended to endorse or recommend the purchase of any specific product or service. It is advisable to consult with appropriate professional advisors for personalised guidance. In cases where the article is contributed by a third-party author, please note that the expressed views belong to the author alone and may not necessarily reflect the opinions of Hata. For further details, we encourage you to read our complete disclaimer. Please be aware that the prices of digital assets can be highly volatile. The value of your investment may increase or decrease, and there is a risk that you may not recover the full amount invested. You are solely responsible for making your own investment decisions, and Hata cannot be held liable for any losses you may incur. This material is not to be construed as financial, legal, or other professional advice. For more information, please refer to Hata’s Terms of Use and Risk Warning.