The dynamics of Bitcoin as a payment method have been playing out since its inception in 2009, and have created different ways in which it can be traded. With the growing financial innovation which by extension is redefining the narrative of trade, a nexus of relationship between Bitcoin and gift cards has been forged to have a funnel of exchange between the two assets.
Gift cards have become increasingly popular as a means of payment over the years. According to data, unused gift cards totaling more than $1 billion are thrown away each year. Gift cards have become increasingly popular as a way to give gifts to employees, colleagues, friends, and family during the holidays.
To get Bitcoin, simply buy a gift card from your favorite retailer and exchange it for Bitcoin at your preferred exchange. These gift cards include Amazon, iTunes, eBay, Google Play, Sephora, etc. However, to trade Bitcoin for gift cards, you can use platforms like Prestmit, Paxful, and Localbitcoins.
Peer-to-peer trading platforms like Paxful and Localbitcoins are ideal for gift card trading because they connect you with people who can offer you great deals. A wide variety of deposit options are available at these exchanges, making it easy to buy and sell Bitcoin anonymously.
P2P platforms allow Bitcoin to be used for its original purpose, which is to facilitate peer-to-peer transactions without the interference of the government.
Peer-to-Peer Exchanges Vs. Normal Exchanges
There are two (2) main types of exchanges: Peer-to-peer exchanges and normal exchanges. Order books are used on normal exchanges to match buy and sell orders between buyers and sellers in the market. The buyer and seller have no idea who they’re trading within a normal exchange, so everyone is protected in terms of anonymity and privacy. Using a bank account or debit card is the most common way to convert your local currency to bitcoin. Coinbase is an example of a standard exchange.
Peer-to-peer exchanges necessitate more communication between buyers and sellers than standard exchanges do because of the privacy and anonymity they provide.
Bitcoin wallet addresses, forum usernames, IP addresses, and even a face-to-face meeting can all be exchanged for information. In a way, peer-to-peer exchanges resemble your neighborhood’s corner store. Those who are selling you what you want are right in your midst.
Best Sites To Sell Gift Cards For Bitcoin
In Nigeria and Ghana, the best platform to trade gift cards for Bitcoin is Prestmit. On Prestmit, selling gift cards for Bitcoin takes 10 minutes.
1. Redeem
Redeem is a peer-to-peer trading platform that allows users to trade Bitcoin for gift cards. When you run into a problem, you can always turn to Redeem’s support team for help. There are gift cards for Amazon and Walmart available through Redeem as well. Redeem was established primarily to aid in the spread of bitcoin. It has top-notch fraud prevention security.
2. Bitrefill
Bitrefill is notable to exchange gift cards for cryptocurrencies like Bitcoin, Ethereum, Litecoin, Dogecoin, or Dash. It accepts Amazon, Apple, Walmart, and Airbnb gift cards as payment. They have a wide variety of products to choose from, so you’re sure to find something you like.
Bitrefill is a service that allows you to add cryptocurrency to your phone’s balance. These services are available in over170 countries and are supported by more than 750 companies.
3. Egifter
After is an excellent platform for exchanging Bitcoin for gift cards. Using Bitcoin, you can buy a wide variety of gift cards from a variety of retailers. To use the platform, there are no fees, and it’s extremely user-friendly. When you spend $100, you’ll receive 100 reward points, which can be redeemed for discounts.
4. Paxful
Using Paxful, you can sell Bitcoin-based gift cards to other users. The process of exchanging your gift card for small amounts of Bitcoin is as simple as creating an account. Many popular gift cards are supported by Paxful, including Walmart, Google Play and Visa, and MasterCard gift cards.
5. Purse
Purse is a service that provides Amazon shoppers with discounts. The platform connects customers who want to exchange Amazon gift cards for bitcoin with others who want to do the same. Add items to your shopping cart with the help of a Chrome extension. If you pay with Bitcoin, you can get a discount of up to 33%.
6. Crypto Voucher
Gift cards can be exchanged for bitcoin at Crypto Voucher, one of the best sites for doing so. For example, gift toke can be exchanged for Bitcoin, BitcoinCash, Ethereum, and Dash, amongst other cryptocurrencies. To use the platform, you must first enter your personal information, and then the platform will email you a crypto voucher that you can use to purchase cryptocurrency.
7. Gyft
Using Gyft, you can get gift cards from virtually any retailer, send them to friends, and redeem them for Bitcoin. Gift card balances can be tracked and sent to friends using their app. In addition to not charging a fee, Gyft has been accredited by Digicert.
8. CoinCola
Gift cards can be exchanged for cryptocurrency on the CoinCola website. Bitcoin can be exchanged for gift cards from Amazon, iTunes, and Google. CoinCola can also be used to exchange local fiat currency for cryptocurrencies such as Bitcoin, Litecoin, Dash, Ripple, and Tether through the use of an exchange. To ensure that your transactions are completed to your satisfaction the platform has a high level of security in place.
9. Bidali
Bidali is a great place to trade gift cards for almost any cryptocurrency, including Bitcoin. To buy goods, services, and mobile top-ups with cryptocurrency, use Bidali. It’s safe, secure, and simple.
Choosing The Best Offer For Gift Cards To Bitcoin Trade
It’s easy to make a mistake when choosing an offer when trading gift cards for Bitcoin. Choosing the best offer requires two steps: first, identifying and avoiding scammers; and second, determining the most cost-effective options.
To minimize risk, you need to choose the trading platform that best suits your needs. Every trader needs to be aware of the dangers. Risks include the code being ripped from your gift card as well as the sellers being unable to contact you. For those who are just getting started with cryptocurrency trading, this can be a major headache. When it comes to reducing these risks, each platform has its own set of best practices.
Conclusion
If you are careful about minimizing your risks, trading your Bitcoin for gift cards can be extremely profitable. Prestmit is your best bet for these transactions.
