Monday, July 19, 2010

Quibids scam: Why no Paypal?

Quibids scam propagates in multi-directions and there are several issues with this. In this post, I am going to discuss the Quibids scam with respect to the Paypal issue.

There are many customers out there who want Quibids to accept Paypal. But Quibids always refuses Paypal. Why? The reason is not difficult to understand - Paypal has a policy of return when the goods are not delivered. This means if I buy something from Quibids using Paypal and they scam me into it, there is a way for me to get my money back using Paypal. Unfortunately, this is not the case with credit card transactions. Because Quibids is scam, it doesn't allow Paypal.

I will retract my words if Quibids is able to allow Paypal transactions. I know this is not going to happen because Quibids strategy is not really a win-win but simply a win-lose where it is the customers that ultimately lose. It is like a giant casino where the house always makes money no matter what. And a few lucky customers might make a few bucks, but really it is nothing compared to what the casino makes.

If Quibids is not scam, they should start accepting Paypal. I know Quibids scam and got suspicious the moment they said no to Paypal. All respectable online businesses use Paypal. If Quibids is what it claims, then it should do the same. Quibids should start accepting Paypal if it is legitimate. Unfortunately for the customers, this is not the case.

Quibids scam doesn't allow it to use Paypal. This is one of the Quibids strategy to keep trouble at bay. For example, if you lose a lot of money out there and want a refund, Quibids ensues that there is no way for this to happen. This is why it doesn't allow Paypal. Quibids macbook might be selling for $200 but in the process, Quibids makes a whopping $11,800 profit. This is for just one Quibids macbook. There are thousands of items listed each day. You do the math.

If Quibids claims it is genuine and honest, it should start accepting Paypal. If Quibids is scam, then it should not allow Paypal. The answer is there to see for everyone.

Update: Quibids is now accepting Paypal! That is good news. Quibids scam can be in many different ways, but not through this route! Read my Quibids review to learn more.

P.S. Update: I had a few complaints that they are still having problems with Paypal. I contacted Quibids support and here is their reply:

Hi Sid,

We do indeed! You can use (and inform your followers to use) this link for PayPal:

Please let us know if there is anything else we can do for you and have a great day!


QuiBids Support

Sunday, July 18, 2010

Quibids Scam: Stay Protected

Quibids scam is important for all the Quibids users and the truth is, it is not a scam in the traditional sense, which makes it hard to detect. For example, if you win on Quibids, they will not scam you by not sending the item. However, like all other penny auction sites, Quibids sure can scam you in a number of other ways. Quibids scam can destroy users if they are not aware of it. I have seen users lose hundreds of dollars and end up not winning the item. Is this the great Quibids scam? Well, not really, but as users, you need to stay protected for your own good.

For those who are unaware, Quibids is a penny auction site that charges you for each bid you place. In addition, you cannot bid any amount that you want: You MUST bid in increments that are fixed for each auction. Quibids scam works essentially like any other penny auction site - they bring in great money to the website, a single winner might make some profits and ALL the remaining bidders will lose money.

Quibids scam is not obvious to many users. Firstly, you should be aware of the bidding model and the business model of the site. They make money when you lose money, it is as simple as that.

Do I hear you shout "Insane!" Well, it is true. Quibids scam works because there are people out there ready to lose money. Are you wondering how?

It is simple. Irrespective of the number of bidders, there will be one and only one winner. This means the more the bidders, the more the website makes. Thus if it is a 1 cent auction (not at all uncommon at Quibids) and the price goes to $100 (again quite common), the website has made a cool revenue of $6000! Unbelievable, but true. And this is just for one auction. Quibids scam runs hundreds of auctions each day. Do the math and you know how they are rolling in money. Their costs are small and negligible - the price of the product will at most be a hundred dollars. Heck, they even charge huge money for shipping!

On the note of shipping, it is outright funny that Quibids charges $2 for shipping for simply crediting bids if you win a bid voucher, which is done immediately. That's right, for something that takes place automatically, charging $2 is sure a Quibids scam that is insane in my opinion.

To stay protected, read my blog entries about Quibids strategy, which explains how to better your chances of winning an auction. Note that these are not at all foolproof and you can still lose a lot of money, but the probability of a win will certainly increase.

And readers, do keep me informed about your progress. Good luck and steer clear of Quibids scam if you don't want your fingers burnt. Instead, go to eBay and find some great deals out there! If you want to gamble, go to Las Vegas and spend an awesome night there. Quibids scam can be costly beyond imagination.