Hi Steemian
Bid Bot is an integral part of Steemit and I think as a Steemian we should understand them and choose them wisely.
So actually what is bid bot?
We all have voting power in steem but weight of our vote is directly proportional to the steem power we hold. But once you vote your voting power decrease . There is one more concept known as vote weight , if you have more than 100SP then you can decide how much percent of your single vote (i.e 100%) you are going to vote with.
In simple words bid bot accepts bid for its vote and distribute its vote in proportion to the bid amounts. I am not going in detail of bid bot definition like capped/uncapped and will come directly to topic how to use bid bot effectively.
So here the few points you need to consider before bidding.
- Check for support available.
There are many bots for which there is no support/response. Use these kind of bid bot keeping the fact in mind if something go wrong then you will lose your bid without any refund. Bidding in these kind of bod can be risky.
2.Check for maximum bid.
Before bidding , check how much you can bid on basis of current bid received by bot. This information is available in https://steembottracker.com, but unfortunately not all the bid bots listed there.
3.Check for automatic refund.
Check before bidding , if bot do the automatic refunds for invalid bids, wrong bids and bid exceeding the maximum upvote that can be delivered by the bot.
- Evaluate resteem bots before using them.
There is already a nice article that evaluate how to use resteem bot. Before using them evaluate them yourself.