Did you know that over $500 million worth of gift cards are converted to cryptocurrency every year? If you’re holding on to an iTunes gift card and thinking of how to convert it to Bitcoin, you’re in the right place.
Digital assets are becoming popular in our world today as they are genuinely representing this digital era when many activities can be achieved through the online space. Cryptocurrency and gift cards are the two common digital assets we can trade for each other or cash. Therefore, you may need to know how to convert an iTunes gift card to Bitcoin.
Over the years, traditional finance has taken over the market by converting physical assets like gold and silver into cash or in exchange for other precious metals. But the narrative has changed today as digital assets have been challenging the status quo of the traditional global market, owing to the real-time value of cryptocurrencies like Bitcoin trading at a price higher than gold.
Therefore, crypto enthusiasts may want to lock into the great value of Bitcoin by trading or investing in the coin. But while you can use cash to buy Bitcoin, you can also convert your gift card to Bitcoin – one of which is the iTunes gift card.
What Are iTunes Gift Cards?
An iTunes gift card is a prepaid card of stored value that you can use to make payments for digital content on the Apple store. As such, users of Apple devices rely exclusively on Apple for the various digital content like music, apps, e-books, and movies they enjoy on their Apple devices.
Therefore, the iTunes gift card is the specialised payment card to buy this content, including iTunes music. So while you can not use your Nigerian ATM cards to make Apple music subscriptions, you can use your iTunes card to achieve that.
iTunes gift card exists in both the physical card and E-codes, with denominations ranging from $10 to $500. These cards have real-time value as iTunes gift card has one of the best rates. The iTunes gift card is very different from the Apple Store gift card; while you can buy anything (both software and hardware) from the iTunes and Apple Store with your Apple gift card, you can only use your iTunes gift card to purchase digital content or software.
Furthermore, iTunes gift cards are helpful for various reasons, and they include:
- Shop conveniently on the Apple Store.
- Give as a gift to loved ones.
- Sell iTunes gift cards for fiat or cryptocurrency.
This means it is of your volition to use your iTunes card as you choose.
However, it should be noted that one of the best ways to make money online is by trading digital assets like Bitcoin and gift cards. Hence the need to know the possibilities of earning more funds when you sell any of these assets. To this end, the real-time value of digital assets like iTunes gift cards and Bitcoin position them as an excellent trading strategy to maximise returns.
Why Convert iTunes Gift Card To Bitcoin?
You may wonder why people consider converting their iTunes gift card to Bitcoin. The answer to this question depends on the motive of the user, but the two main reasons for this could be;
1. Not all Bitcoin investors own Apple devices
iTunes gift cards are mainly used on the iTunes and Apple store by Apple users. Therefore, when a Bitcoin trader or investor can’t use the iTunes card at its store – because of restriction or no Apple account – there is more possibility that the trader or investor will find a way to convert the iTunes gift card to Bitcoin.
2. Bitcoin seems to be a better store of value
Many people convert their iTunes gift card to Bitcoin because of the BTC price, which has a steep increase in gift cards. So, when they convert the iTunes gift card to Bitcoin, they have a high chance of making profits from the volatility of Bitcoin. For instance, the price of Bitcoin has the potential to increase anytime, thereby spelling fortune for investors that decide to sell their BTC.
Where to Convert iTunes Gift Cards to Bitcoin
1. Gift Card Exchange Platforms
There are some platforms that specialize in exchanging gift cards for Bitcoin. They are easier to use and faster, making them an excellent choice if you want to quickly swap your iTunes gift cards for Bitcoin.
2. Crypto Exchanges
You can convert your iTunes gift card to Bitcoin on Crypto exchanges. There are some exchanges that allow you to swap gift cards for Bitcoin, either directly or through a third-party service. Crypto exchanges can be a little bit complicated if you are a beginner but they are secure.
3. P2P Platforms
On P2P platforms, you deal directly with buyers who want your gift card in exchange for Bitcoin. These platforms include the likes of Binance P2P and Paxful. Always ensure you are trading with a trusted buyer.
4. OTC Trading Platforms
If you have a very large amount of Bitcoin, an OTC trading platform is your best bet. Here you can access better rates and they offer privacy.
Talking of OTC platforms, Prestmit is an OTC digital trading platform you can consider. This is because using Prestmit is fast, simple, and especially secure, Prestmit is the best option. It is designed for seamless transactions, offers great rates, and ensures your Bitcoin gets to you quickly. This platform also has an automated gift card rates calculator that gives you the real-time exchange value of your gift card.
How To Convert iTunes Gift Card To Bitcoin – Prestmit
The following are the easy steps to sell iTunes gift card for Bitcoin:
- Download the Prestmit app on Google Play Store or Apple Store.
- Create a Prestmit account and log in.
- Click “Buy and Sell Gift Cards and choose “Sell Gift Cards.”
- Select “Bitcoin (BTC)” as your preferred payment option.
- Choose “Apple/iTunes” from the “Gift Card Category” and select “Gift Card Type.”
- Enter the “Amount” of the iTunes card that you want to convert.
- Upload the image of the iTunes card or enter the code in the comment section.
- Enter your “Bitcoins Address” and follow the prompts to complete your transaction.
- You will receive payment in BTC immediately after the transaction is confirmed.
Tips To Guide You When Converting Your iTunes Gift Card To Bitcoin
Yes, you want to get more value for your iTunes gift card, but here are a few tips to guide you when converting your iTunes gift card to Bitcoin:
- If your card is not verified, ensure to double-check that your images are clear and that all details are clearly visible.
- Crypto rates change from time to time. Always consider timing your conversion during low market volatility.
- Make use of a strong two-factor authentication (2FA) on your Prestmit account.
- Avoid sharing your gift card information or personal details outside the platform.
- Ensure you document your transaction details and maintain screenshots of transactions and communications.
Frequently Asked Questions (FAQs) About Selling iTunes Gift Cards For Bitcoin
What is the minimum iTunes gift card value I can convert?
On most platforms, including Prestmit, you can convert gift cards starting from as low as $10.
What App Can I Buy Bitcoin With iTunes Gift Card?
There are different apps for buying Bitcoin with iTunes gift cards, but Prestmit is the best app to convert gift cards to Bitcoin. This is owed to our astounding achievement as one of the best gift trading platforms in Nigeria and Ghana, and by extension, Africa. Therefore, you can download the Prestmit app on your mobile devices and sell your iTunes gift cards for Bitcoin.
Are there any fees involved in the conversion?
Prestmit offers transparent pricing. There are no hidden charges on the platform, although you may incur minor Bitcoin network fees.
What Cards Can Buy Bitcoin?
It is noteworthy that you can use your prepaid cards to buy Bitcoin. This includes gift cards and other payment cards like Visa cards and MasterCard. Some popular gift cards you can use to buy Bitcoin are iTunes gift cards, Amazon gift cards, Google Play gift cards, Steam gift cards, American Express (AMEX) gift cards, etc.
The functionality of these cards harps their real-time value, which you can exchange for fiat currencies or cryptocurrencies.
Conclusion
Cryptocurrency and gift cards are digital assets that are the best alternative to cash. This is due to their potential for an increase in value, unlike the money you hold. This is why selling your iTunes gift card for Bitcoin is the best alternative to receiving cash. The volatility feature of these assets makes them more lucrative.
However, it is essential to know where and how to convert your iTunes card to BTC to maximise profit. Therefore, Prestmit is the most reliable and credible platform to sell gift cards for cryptocurrency.
