Wondering what is PennyGrab? Then you came to the right place.
In this PennyGrab review we’ll take a look at the platform to see if it’s worth investing in.
Continue reading to learn more!
What is PennyGrab?
PennyGrab is a penny-auction website, and it works much like all the other penny auction websites, but with a couple unique features.
On their website, they claim to make online penny auctions more fun and offer more savings in the long run.
What makes this platform a little different is their “Buy Now” button.
This button is similar to eBay’s Buy Now button, where you can skip the entire auction and buy the item directly, albeit for a much higher price.
Products are ended to the online auction and users bid on them in one penny increments.
Unlike other penny auction sites, this one doesn’t place a fixed time limit on auctions.
Auctions start with a time limit, but every time a bid is added, the limit increases.
Technically, it could never end.
But some auctions end quickly, while others take weeks or months to end.
You have to keep an eye on the countdown.
Making Money with PennyGrab:
Can you make money with PennyGrab? What is PennyGrab? Does PennyGrab have an affiliate program?
Unfortunately PennyGrab does not have an affiliate program so you can’t make money by referring new people.
There’s actually no way to make money with PennyGrab, besides the re-selling strategy we mentioned.
The reason for this is PennyGrab is an auction website with the goal to offer the best discounts possible.
They won’t be able to offer discounts if they’re paying member’s too.
So you can’t directly make money with PennyGrab.
Reselling the items you win is possible, but it’s generally not recommended.
Is it Hard to Win a PennyGrab Listing:
To start off, winning a listing in the first place takes a long time because you have to compete with tons of other bidders.
Not to mention anyone can click the Buy Now button and grab it for themselves.
In other words you could spend all day trying to outbid everyone and then someone can outbid you in a second.
So there’s no reliable way to consistently win listings with Penny Grab.
Buying PennyGrab Credits:
To bid on the platform you need to use credits, which can be bought in the member’s area.
Every time someone uses a credit to bid on an offer, the value increases by $0.01.
You can buy various credit packs, some of which are listed below:
This is how Penny Grab makes their money, by selling credit packs.
There are a couple different types of credits you can earn too…
Bonus credits are added to your account when you win an auction or prize.
Some listings include bonus credits for the winners, as an incentive to keep member’s on the site.
Promo credits can also be won by winning a prize or auction, but they do expire.
These credits expire every morning so you need to use them within 24 hours.
You can use them to bid on other auctions.
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I like the idea of PennyGrab and they seem to know most penny-auction sites have a bad reputation.
On their website you can find some tips on how to win more listings and avoid losing too much cash.
I like how their honest and transport, and they recommend starting slowly to avoid losses.
They’ll also tell you how to bid strategically in order to increase your win ratio.
So Penny Grab seems to be a legitimate company that doesn’t make any crazy income claims.
What You Can Buy:
All kinds of products are listed on PennyGrab but I noticed most of the products aren’t particularly valuable in the first place.
The most commonly won products are gifts cards to various online stores such as Amazon, Walmart, and more.
If you can win a $10 gift card for a few pennies, that’s a decent deal.
There are always new products being added, so it’s hard to say exactly what you can find on the platform.
What We Didn’t Like:
Trying to find deals online is always a good idea, but if you have to spend money for a chance to get a deal, it’s not such a good idea.
You have to spend $30 for 30 credits, and those credits run out quick.
You might place a few bids on a few different auctions and before you know it that $30 is gone.
And you’re left with nothing.
In my opinion, if you’re strapped for cash, it’s best to avoid spending money on these platforms.
What I suggest is selling something like a service or some old junk lying around the house for some fast cash.
There are also some platforms you can use to take surveys and what not to earn some pocket income.
Survey Junkie is one of my favorite, though don’t expect to be a millionaire.
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Conclusion on PennyGrab:
When it’s all said and done, Penny Grab is a legitimate platform but you won’t be able to make money with it.
It’s also not so easy to win auctions, especially when you have a bunch of people trying to out-bid you.
To me, it’s better to look for an alternative.
One alternative could be learning how to build a website for affiliate marketing purposes.
But there are plenty of other options too.
Keep your chin up!
Thanks for taking the time to read this what is PennyGrab article!