The problem I see is that bidding is not for free.
Once you load your Coinlist account the exchange rate from ETH / BTC to USD and then back from USD to ETH / BTC might cost you 10% of the capital.
So you have to risk loosing ~10% of your ETH / BTC crypto to allow you to participate in the bidding.
It is not an explicit cost as handling fee, rather cost of exchange.
Maybe, someone has precise figures on this?