How to participate in bitcoin auctions held by US government?

10 000 question challengeCategory: Profits (trading, ICO, mining)How to participate in bitcoin auctions held by US government?
HowToToken Team Staff asked 3 years ago
1 Answers
HowToToken Team Staff answered 3 years ago

Bitcoin auctions are carried out by US Marshal Service and consist of 3 steps:
1. Bidder registration
2. Online Auction Period
3. Award and sale close

To participate in an auction, you must submit a registration form that could be found on the website, a copy of government-issued ID, a deposit with at least 200 000 dollars originating from a US bank and a copy of the EFT transmittal receipt. Non-US citizens are also allowed to participate in an auction.

Once you are accepted to participate, you are eligible to make your bid. Here are rules of winners’ determination:
1. The eligible bidder who offers the highest price will be the prevailing bidder;
2. If there are multiple bids at the highest price, the first bid received will prevail; and
3. If a winning bidder defaults, the next highest bidder will be declared the winning bidder.

For details, check