Did you know you can swap your gift cards for bitcoin? Do you know the top platforms with the best gift card to Bitcoin rates? I bet you don’t.
Most tech-savvy individuals know now that gift cards are the most versatile digital asset one can own. They give you access to shopping from merchants anywhere in the world and provide the option of digital trades for other gift cards, cash or crypto. Of course, the most popular crypto is Bitcoin. So, it makes sense that anyone exchanging their gift cards for crypto would most likely choose Bitcoin.
So, to help you get the most value for your gift card, today’s blog will spotlight the top 5 platforms with the best gift card to Bitcoin rates.
Trading Gift Cards for Bitcoin
Gift cards are prepaid cards one can use to purchase goods and services from the issuing retailer or a group of authorised retailers. Usually, if a gift voucher is not redeemed, the owner can trade it for cash or crypto on digital trading platforms. Since Bitcoin is the most popular crypto, most platforms focus on trades involving it.
Exchanging gift cards for Bitcoin is easy. Instead of receiving payment in cash or another gift card, whoever buys from you pays in Bitcoin. The process involves finding a reputable platform that facilitates this kind of trade, registering for an account and carrying out the transactions. Usually, your choice primarily considers the rates before other factors.
Top 5 Gift Card to Bitcoin Trading Platforms with the Best Rates
These are the top 5 sites with the best rates for gift card to Bitcoin trades.
- Prestmit
- Paxful
- CoinCola
- Remitano
- LocalCoinSwap
Now, let’s briefly consider all these platforms.
1. Prestmit
Tagged the best in user experience, Prestmit holds the flag for Africa’s best digital trading platform. Its platform allows users to trade their gift cards for Bitcoin.
“With support for over 500 gift card brands, including but not limited to Amazon, iTunes, Visa, Mastercard, Google Play, Steam, Razer, Nordstrom, etc., users can trade gift cards and be paid swiftly in Bitcoin.
The best part is that Prestmit’s rates are the best, obtained by comparing all the available rates on the market at every point in time.
Pros
– User-friendly interface.
– High security
– Speedy transactions
– Wide range of gift cards supported
– Excellent 24/7 customer support via live chat
Cons
– Limited currencies supported (Naira & Cedis)
2. Paxful
Paxful is another site with great gift cards to Bitcoin rates. It’s a peer-to-peer platform that enables users to trade digital assets directly. So, you’ll find several different offers and rates to pick from. All you have to do is to ensure you trade with a verified user with some reviews.
Paxful supports over 120 gift card brands, so if your gift card is popular, you’ll most likely find someone willing to exchange it with you for Bitcoin. All you need is a Paxful account to get started.
Pros
– Trades are free.
– Wide selection of payment methods.
– Wide variety of offers with reasonable rates to choose from
Cons
– High risk of scams
– Lack of excellent customer support
– User interface may be confusing for beginners.
3. CoinCola
CoinCola is another P2P platform that allows users to sell their gift cards for Bitcoin at reasonable rates. The platform Is similar to Paxful in its layout. Users can either create an offer or browse through the offers and engage with one.
Pros
– User-friendly platform.
– Fast and secure transactions.
– Supports multiple payment methods.
Cons
– Limited selection of gift cards
4. Remitano
This is another gift card trading platform that offers excellent rates for gift cards to Bitcoin trades. Remitano is a P2P platform where users create offers or choose to engage with any of the existing ones. Users can sell their gift cards to other users and buy Bitcoin from them similarly. Remitano uses an escrow system to protect traders involved in a transaction.
Pros
– Supports multiple payment options
– Good security system.
– 24/7 Customer support.
Cons
– High transaction fees
– Unregulated platform.
5. LocalCoinSwap
LocalCoinSwap is a decentralised exchange that specialises in buying and selling cryptocurrency. It offers users the option of buying BTC with gift cards. This particular service is also set up in a P2P layout. Several sellers create offers, and you pick the one with the most appealing rate.
Pros
– Extensive selection of payment options
– Low fees
Cons
– Limited gift card support.
Factors to Consider When Choosing a Gift Card Trading Platform
Apart from the rates, which is the first metric most people use to choose a gift card trading platform, other factors are also essential, highlighted below.
1. Security
No matter how great a platform’s Bitcoin to gift card rates are, users stand to lose more than they gain if there are security breaches. Any platform you choose should have a robust security system in place, including multiple-factor authentication and escrow systems for P2P platforms.
2. Gift Card Support
After security, the number of gift card types supported by a platform should guide your choice. For example, LocalCoinSwap has a minimal selection. Your gift card may not be supported, so you cannot trade it for BTC.
3. Fees
Check if the platform charges heavy transaction fees before you engage. Most P2P platforms charge little to nothing because users trade between themselves.
4. User interface
If a site has a difficult user interface, it is draining to interact with it. So take some time to peruse the website and pictures of the app on the App Store or Play Store before you sign up.
5. Customer Support
Good customer support is highly essential, especially for peer-to-peer platforms. If a dispute breaks out between traders, a customer support team will intervene and help resolve the issue. So, it’s a crucial factor to consider before choosing any platform.
Conclusion
Gift cards are versatile and offer holders a different way to acquire Bitcoin. While several platforms offer gift card-bitcoin trades, not all provide great rates. This blog has listed and briefly explored the top 5 gift card-to-bitcoin sites with the best rates. Of course, there are other factors to consider while choosing a platform, such as security, gift card support and ease of use.
The platforms listed above are some of the best in the market and offer competitive rates for gift cards to Bitcoin trades. Trade carefully and always reach out to the customer support team of a platform if you encounter any hassles.
