Auctions are going live later tonight after 5 years of development and testing! There will be an exclusive offer below for all Steemit users. Some of you might think your know what kind of site this is. Well keep reading because you are going to be pleasantly surprised. There is no other site on the internet like Coinhawk that balances their auctions with offers that save their user's money. Not to mention the option to buy Crypto directly with CC or Paypal. Unheard of.
First, the backstory. I was a coin dealer on Ebay for many years. One day I came to a realization after continually paying 10% fees to a company for a lackluster seller experience. If you think about it, Ebay is not a perfect fit for any niche. It is just a blanket marketplace that has reached critical mass and, in return, users deal with its shortcomings. I wanted more. So I jotted down goals I wanted to achieve for my own marketplace I was determined to create.
- It had to be different
- It had to be fun
- It needed to be fair
- It needed to provide a great potential value to the user
::Drum Roll::
Welcome to Coinhawk.com!
Coinhawk is an Multi-Auction Platform where you can buy Crypto, Coins, & Bullion with USD$. Right now you can use Credit Card or Paypal. I want to integrate Crypto payment options. Particularly Steem & SBD. More Crypto options will be available in the future.
Message me if you are a developer & able to help me integrate!
Tutorial:
There are 3 ways to obtain items on Coinhawk.
- Win an OPEN AUCTION.
- Win a SEATED HAWK AUCTION.
- BUY NOW.
( BUY NOW is embedded inside OPEN AUCTIONS)
Let's work in Reverse.
BUY NOW:
Only the Yellow Bordered Auctions have this function. This is just like browsing on Amazon.com and finding an item to purchase. You click and buy with USD$.
Click the BUY NOW button on any item you want and you will be taken to the next screen
It will take you to this page.
This is the DETAILS screen of the auction where you will see the BUY NOW price. Click on it and Purchase with CC or Paypal. Done! (Crypto Payments will be added in the future as well)
SEATED HAWK AUCTIONS:
These are limited seat auctions. I found inspiration from poker tournaments in creating this auction style.
I wanted a Low Entry High Reward auction. These are meant to be filled up in advance of the timer reaching :00. Seats are limited, so you want to Buy A Seat before it fills up and you miss out. I suggest buying a seat and setting a timer on your phone for the day and time the auction is scheduled to go off. This way you don't forget about it.
All Seated Hawk Auctions are Purple Bordered.
Let's breakdown these auctions in 5 main functions
This tells you how many people have entered and what the maximum participants allowed are. In this example, there is a 10 seat max with 0 participants so far. When the auction shows 10/10 the auction locks and no one else can enter.
This tells you when the Auction starts. Again, I recommend buying a seat in advance and setting an alarm 10 minutes before the timer expires.
This is the price to BUY A SEAT. As you can see, these are a deep discount to the actual value of the item. If you are the winner, congrats because you just made a lot of money!
If 1, 2, & 3 look good to you, BUY A SEAT!
This is like a buy in for a poker tournament. Everyone gets the same amount of bids to start. In Hawk Auctions it is 12. It is showing 0/12 because you have not bought a seat yet!
(I will explain how to use these and win the item in a moment)
You have now bought a seat and it will look like this now.
You will notice 3 differences:
- The Hawk Bids went from 0/12 to 12/12
- The Seats went from 0/10 to 1/10
- The Buy Seat button now says Leave Auction.
I developed the Leave Seat functionality in case you buy a seat in advance and then something in your life happens where you can't be there to participate. You can Leave Auction and your initial purchase will be 100% refunded to your account immediately! This is one of my favorite functions.
In addition to this, we added Automatic Refund functionality if the auction does not completely fill up. That means if only 8/10 seats are filled, when the clock strikes 0, all 8 users will be refunded immediately. This was programmed so users feel confident to buy seats ahead of time with no worries of losing money. Safety nets everywhere :)
Coinhawk has received a facelift from this video but the functionality is the same.
Think of the timer like the King of the Mountain game. Each time someone bids, they are the leader and the timer recycles. It starts counting down again until the next player bids. Everyone is given 12 Hawk Bids with the seat they have purchased. This completely levels the playing field. Its like being in a poker tournament and everyone has been given a specific amount of chips. There is no buying more. You either win or lose with your 12 Hawk bids. What I like about it is you can be Warren Buffet playing playing someone making minimum wage and the odds of winning are 50/50. There are great auctions that give you an awesome chance of winning an item for a low low price.
Seated Hawk Auctions have 2 simple rules to win:
- Don't let the clock strike :00 without being the leading bidder
- Don't run out of bids
The rest is strategy. Out maneuver your opponents to win the item! Anyone who ends up winning these auctions will end up winning for about 10% of the retail price. Not bad if you ask me. I like knowing my upside and downside. Being able to say, "Ok, here is $5. If I win, I am taking home a $50 item. If not, It's only $5." Sign me up all day long!
The idea of these auctions is to be firing off all day long. They are programmed to be about 10 minutes in length. Add that into the low entry fees and participants should be playing in multiple seated auctions per day whenever they get a free 10 minutes or so. Sign up for as many as you want.
OPEN AUCTIONS:
OPEN AUCTIONS are the Yellow Bordered auction that involve the BUY NOW feature we saw earlier in the post. This style auction is the complete opposite of Seated Hawk Auctions. There are no parameters or limitations. Basically, the rules are There Ain't No Rules :)
There is no cap on how many people can participate. There is no defined amount you will spend. You could win the item with 1 bid or use 100 and not win. This again was inspired by poker. I'd love to use another scenario but these poker references just fit to be able to tell a full, concise story. So think of these like a No Limit Holdem Game. They are usually longer in length, a ton of action, a lot of fun, and involve higher priced items.
Here is a Fast Forwarded Open Auction Video. As you will see, the timer functionality is the same. Every time someone bids, the timer recycles to :15 and starts counting down again.
I know what some of you are saying. Its pretty crazy that someone can win an item for 1 bid right? Or what happens to the non-winners who bid 100 times and don't win? This next step is revolutionary for Bid Pay style auctions. Let's go back to the Buy Now picture from earlier.
This is probably the best function of the entire website. If you do not win, each bid you place drops the BUY NOW price! Lets say we are all bidding on the Litecoin auction. You place 40 bids. Each bid is worth .25c. So 40 x's .25c = $10. You end up losing. Well that $10 is taken completely off the BUY NOW price which makes it $46!
There is literally no reason to lose! This is revolutionary in the Pay Per Bid Style auctions. It's a huge safety net. Don't forget, you could win this item for super cheap. I have watched a user win $50 in gold for .25 cents during testing. To have that big of an opportunity with the safety net of buying it extremely close to retail if you lose is unheard of.
These 3 fantastic options to obtain items through the Coinhawk platform will be the reason Coinhawk develops into one of the biggest auction sites on the internet.
This is me welcoming you to follow and support as we take our first step on this journey.
We have given you the full walk-through of the site. The only thing left is to show you how to participate and extend a great offer.
Once you register on Coinhawk, you will see the Buy Bids button in the Menu
When you click it you will be taken to a menu of Bid Packs to purchase.
Open Auction Bids and Seated Auction Seat Purchases run off of these bid packs. Each bid on the site is .25c a bid with the exception of Seated Hawk Auctions where you only buy your seat and 12 bids come included for free.
Here is my exclusive offer to my Steemit Family:
Register on Coinhawk, reply back on this post with your Coinhawk username, and I will fund your account with 15 bids to try it out. ( I recommend signing up for Seated Auctions with your bids as No Limit auctions are usually more bidding intense.)
Register on Coinhawk, buy a bid pack, reply back on this post with your Coinhawk username and I will double your purchase for FREE.
I will also accept Steem and SBD through My Wallet. Send me any amount with the memo of your Coinhawk username and I will fund your account with the appropiate amount of bids using a USD$ conversion. I will honor the Double Your Payment offer as stated above.
If you are a dolphin or whale and know what your 100% upvote is worth, Upvote me and reply what your CoinHawk username is plus what your upvote was worth and I will credit your account with double the bids of what a Bid Pack purchase would be worth.
Lastly, I will except other Crypto as well. Look below for the Coinhawk Discord Channel. I will make things work until I develop the crypto payment integration into Coinhawk's structure.
I have started a CoinHawk Auction Discord Channel. Ask Questions, Leave Comments, Chat!
Join Here!
https://discord.gg/N7yyWRF
I will provide daily updates on Coinhawk's progress, updates, and additions.
Thanks everyone