Did you know that the gift card market is predicted to be valued at $1.7 trillion by 2017? This potential makes gift card trading a lucrative venture that you may want to learn how to sell gift cards.
Gift cards are digital assets that continue gaining traction due to their real-time value, which allows users access to products or services at stores that support them. But as the demand for these cards increases, people and business entities are turning to gift card trading, a venture considered one of the best ways to make money online in Nigeria. So, if you want to start gift card trading as a side hustle or need to quickly convert your card to cash, this article explores how to sell gift cards.
Understanding Gift Card Trading
Gift card trading is the buying and selling of gift cards for varying intended purposes. While you can buy gift cards to use as a payment method at stores that support them, you can sell unused cards to make money for yourself. There are many gift cards you can trade but understanding how and where to trade them is important.
Why Sell Gift Cards?
Gift cards are prepaid cards to purchase products or services at stores. But when you do not want to use or redeem the card, you can sell it to make cash.
For instance, you may be given a gift card like a Steam gift card for your birthday, and this card enables you to access gaming content on Steam. But if you’re not a gaming enthusiast, you may not find the card more useful than selling it.
In addition, you can choose to sell your gift card if it expires soon. Selling a gift card allows you to quickly get the best of its value before it loses its face value.
Factors To Consider Before Selling Your Gift Card
1. Rates
The primary goal of any trade is to make profits, and gift card trading is not excluded. Therefore, it is important to research across different trading platforms to know the rate of their cards. This informs your decision on selling your card on the platform or looking for another platform.
2. Fees
Trading fees are another factor to consider to determine whether you will be earning more money from your trade or not. While some gift card trading platforms offer high fees, some offer relatively low fees that ensure that traders get the best value for their sales.
3. Security
You must sell your gift card on a reputable, safe platform. The online space has become a hotbed of scammers lurking around to steal unsuspecting users’ funds. Therefore, you must avoid falling victim to gift card scams by trading your card on a secure platform.
4. Customer Support
When selling your card, you may require a customer support team to guide or resolve any issue. This is why you must trade your card on a platform that provides customer support channels to reach out when you need assistance.
Where To Sell Gift Cards In Nigeria
There are many places to sell gift cards in Nigeria, but Prestmit is one platform blazing the trail to ensure seamless and profitable trading. This is not limited to only Nigeria but includes Ghana and other countries.
Some popular cards you can sell on Prestmit include Apple gift cards, Amazon gift cards, Steam gift cards, Sephora gift cards, Nordstrom gift cards, etc.
How To Sell Gift Cards In Nigeria On Prestmit
Here are the quick steps to sell your gift card on Prestmit:
- Visit the official Prestmit website or download the Prestmit app on the Google Play Store or Apple Store.
- Create a Prestmit account and log in.
- Click “Gift Cards” and choose “Sell Gift Cards.”
- Select your preferred payment method, which can be Nigerian naira (NGN) or cryptocurrency.
- Choose the card you want to sell from the “Gift Card Category” and select the “Gift Card Type.”
- Enter the “Amount” of the gift card you want to sell.
- Upload the image of the gift card or enter the Ecode in the comment section.
- Proceed to complete your transaction.
- You will receive payment immediately after your transaction is confirmed.
HOW TO TRADE GIFT CARD ON PRESTMIT – EASY TUTORIAL
You can watch the video below for a quick tutorial Or continue to read if you prefer.
Benefits Of Selling Gift Cards On Prestmit
1. Excellent Card Rates
Prestmit offers one of the best gift card rates in the market to enable users to get the best value for their cards. The platform provides an automated gift card rate calculator to give you an idea of how much you will receive when you sell your card.
2. Multiple Payment Options
Prestmit supports multiple payment options to enable users to cash out as conveniently as possible. While you can receive payment in fiat currency in the form of naira on the platform, it also supports crypto payment.
A Prestmit naira wallet allows you to keep your funds on the platform or withdraw them into your bank account. As a platform that has morphed into digital payment services, you can use funds in your Prestmit wallet to buy airtime and data, pay electricity bills, and cable TV subscriptions.
3. Low Trading Fees
The trading fee on Prestmit is relatively low compared to other gift card trading platforms. There are also no extra fees or hidden charges when you sell your card on the platform.
4. Responsive Customer Support
Prestmit boasts of a responsive customer support team catering to your needs anytime and anywhere. Customer support is available round-the-clock to ensure your queries are promptly resolved, and you have a seamless trading experience on the platform.
Red Flags To Watch Out For When Selling Gift Cards
1. Buyers Requesting Card Numbers Before Payment
You must be wary of buyers who request gift card numbers before payment, especially when you are selling your card on platforms like the social media. This can put you at risk of losing your card’s value when malicious actors get hold of it. So do not reveal or send your card number until you’ve confirmed payment of purchase.
2. Unusual Payment Method
You must avoid selling your gift card to a buyer or on a platform that does not support a regular payment method like bank transfer. As such, you must ensure that you use a payment method that can enable you to check the funds before releasing the card to the buyer.
3. Pressure To Sell Quickly
It is more than a red flag for the buyer to Pressure you to selling your gift card. You must not be put under duress during gift card trading as you may sell at a lower gift card resale value than it should be.
Frequently Asked Questions (FAQs) About Selling Gift Cards In Nigeria
How Can I Sell Gift Cards In Nigeria?
You can sell gift cards in Nigeria through a trading platform like Prestmit. This platform provides all the trading tools you need to make an easy and profitable trade.
Can I Sell Gift Cards For Bitcoin In Nigeria?
Yes, you can sell gift cards for BTC in Nigeria, just as you can trade your card for cash. Prestmit is the leading platform on which you can sell your cards for crypto assets like Bitcoin, Ethereum, USDT, etc.
Is It Profitable To Sell Gift Cards In Nigeria?
Selling gift cards is profitable if you sell your card at a reliable and reputable platform like Prestmit that offers excellent card rates. You will be selling your card at rates you may not find elsewhere on the platform.
When Is The Best Time To Sell Gift Card?
There is no best time to sell gift cards than the moment you’re thinking of selling your card. This is because gift cards do not have a fixed value. Factors like the exchamge rate and markef demand for the card determines their value. So while the value fluctuates, it may be best to sell your gift card now.
Are There Any Fees Involved In Selling Gift Cards?
You may be required to pay trading fees when using a gift card trading platform, but this does not apply to selling your cards on social media platforms.
Conclusion
Gift cards are a viable asset to hold – whether to redeem or sell. But selling your gift card may be a great option when you need that urgent cash to foot your bills, as they are prepaid cards with real-time value.
Thinking of how and where to sell your gift card? Prestmit is the answer to your gift card trading needs.
