In recent years, Bitcoin has increasingly become a popular payment method for products and services across different businesses or stores. This is owed to its real-time value, which enables the asset to be used as an alternative payment method to cash or credit/debit cards. But as BTC holders are discovering ways to use their funds for everyday purchases, one popular option is to buy gift cards with Bitcoin. So, let’s explore how to use your BTC to purchase gift cards.
Why Buy Gift Cards With Bitcoin?
1. Locked-in Value During Crypto Volatility
It is common knowledge that Bitcoin and other cryptocurrencies are volatile – meaning that their prices can swing within the twinkle of an eye. But as a digital asset that gift cards are, you can manage the risk of losing your funds to crypto volatility as most platforms can lock the value to complete purchase.
2. Access To Retailers That Don’t Accept Crypto
While many businesses adopt crypto as a payment method, some still do not support the digital asset as a means of exchange to access products or services. But you can use gift cards at many stores, even at a time that most companies are issuing gift cards for their customers to make purchases.
3. Better Exchange Rates Than Crypto-to-Fiat Conversions
Converting your Bitcoin to a gift card potentially offers better exchange rates than exchanging your crypto for cash. This is due to the high trading fees associated with converting crypto to cash. Also, the real exchange rate of a fiat currency can diminish the value of the crypto when it is weak in the international market.
Step-by-Step Guide To Buy Gift Cards With Bitcoin
Step 1: Create An Account On the Gift Card Platform
Research and choose your preferred gift card platform. You must create an account by providing basic information, such as your name and email address. Some platforms may require identity verification as part of their KYC (Know Your Customer) procedure.
Step 2: Choose A Gift Card
Choose your preferred gift card. Most platforms offer a wide range of gift cards, including popular cards like Apple gift cards, Steam gift cards, Amazon gift cards, Sephora gift cards, Google Play gift cards, and whatnot.
Step 3: Enter The Amount
Here, you will enter the amount of the gift card that you want to buy. This amount will be in the currency of the card. Then, you will be able to see its equivalent in Bitcoin.
Step 4: Deposit Bitcoin
Send BTC from your wallet to the Bitcoin address on the platform. But if you are using a peer-to-peer (P2P) platform, you will transfer BTC to the wallet address provided to you by the seller.
Step 5: Receive The Gift Card
You will typically receive the gift card in your email address when the transaction has been confirmed.
Safety Tips To Consider When Buying Gift Cards With Bitcoin
1. Confirm The Platform’s Reputation
It is important to verify the reputation and reliability of any platform before using your Bitcoin to buy gift cards. This is due to the spate of crypto scams and gift card scams that malicious entities are using to steal from unsuspecting users. Therefore, you must ensure that your preferred platform is safe to use.
2. Double-Check Bitcoin Wallet
It is difficult for Bitcoin to be traced, meaning it can be lost forever if you mistakenly send BTC to the wrong address. So, you must endeavor to painstakingly confirm the Bitcoin address you are sending your coin to when you are buying a gift card on a platform.
Usually, it is best to copy and paste the Bitcoin wallet address to avoid any mistakes.
3. Use Platforms With Customer Support
Using a gift card platform with customer support gives confidence that transaction issues can be resolved as quickly as possible when they arise. For instance, Prestmit has responsive customer support available round the clock to solve all queries and ensure a smooth trading experience for its teeming users.
Where To Buy Gift Cards With Bitcoin
Prestmit is one of the best platforms to buy gift cards with Bitcoin. It supports a wide range of cards at excellent prices. It provides an excellent web and mobile experience that enables users to purchase their cards anywhere and anytime.
This platform offers innovative features such as fast transaction processing, allowing you to purchase your card within a few minutes. It also offers advanced security through two-factor authentication (2FA) and an encryption system that protects your transactions.
How To Buy Gift Card With Bitcoin On Prestmit
Here are the quick steps to using BTC to purchase gift cards:
- Visit the official website of Prestmit 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 “Buy Gift Cards.”
- Select the card you want to buy from the “Gift Card List.”
- Enter the “Amount” of the gift card you want and choose the “Quantity.”
- Proceed to complete your purchase by choosing “Pay with Crypto” as your preferred payment option.
- Follow the prompts to complete your purchase.
- You will receive your gift card immediately after the confirmation of the transaction.
Frequently Asked Questions (FAQs) About Buying Gift Cards With Bitcoin
Can I Use A Bitcoin To Buy A Gift Card?
Yes, you can purchase gift cards with Bitcoin. But you need to look for a platform that supports such an exchange and whether it has the gift card you want to buy.
Is It Safe To Convert Bitcoin To Gift Cards?
Selling Bitcoin for a gift card is considerably safe if you use a credible and reliable platform like Prestmit. Trading on this platform is easy and safe.
Can I Purchase Gift Cards With Other Cryptocurrencies?
You can buy gift cards using crypto assets like Litecoin, Ethereum, Dogecoin, USDT, etc., depending on the cryptocurrencies that your preferred platform supports.
Conclusion
Converting Bitcoin to gift cards is becoming a trend as people use digital assets to make purchases online or in-store. But the journey starts from looking for a platform that provides all you need to make the transaction seamless.
Prestmit is the best digital trading platform among equals, offering a robust gift card catalog at better gift card rates.
