Did you realise that gift cards may be sold for Bitcoin? If you didn’t know, I’ll show you how to sell gift cards in Bitcoin in this article. In countries such as the United States, Nigeria, India, Australia, the United Kingdom, and others, P2P trading sites can be used to purchase Bitcoin using gift cards. We’ll tell you how to trade gift cards for Bitcoin in this article.
Were you aware of this?
You can top up your online bank account with gift cards in some cases. The new online bank Revolut, which is also available in the United States, is an example of a bank in which you can transfer money from a gift card to a bank account. The account is free to use and includes premium features.
Curve Card is a mobile app that lets you manage all of your gift cards, debit cards, and credit cards in one place. In the United States, you can join the Curve card waiting list.
Every year, nearly $1 billion in unredeemed gift cards are thrown away. It’s because gift cards have become quite popular as a method to offer gifts to employees, colleagues, friends, and family, especially around the holidays. An average American has $116 in gift cards that aren’t being utilised.
Restaurants, department stores like Best Buy, prepaid cards (Visa/Master Card/American Express/Discover Gift Card), internet stores like Amazon, coffee shops, and entertainment are the most popular types of gift cards.
Is it possible to buy cryptocurrency with gift cards?
Yes. There are a number of platforms that allow individuals to buy cryptocurrency with gift cards. To swap any gift card for Bitcoin, you simply need to create an account. In addition, many businesses are increasingly allowing their customers to pay using digital assets. As a result, you’ll be able to buy products and services, invest in cryptocurrency, and even acquire crypto-backed loans if you sell your gift card for Bitcoin.
Top 5 Reasons to Buy Bitcoin with Gift Cards
Consumers are spending more than $130 billion on gift cards each year. Unfortunately, almost $1 billion in gift cards goes unused. This problem is being solved by the crypto economy, which allows individuals to swap gift cards for Bitcoin, the most valuable cryptocurrency by market capitalization. This opportunity has a lot of potential because Bitcoin can be used in a variety of ways to make money. The five top reasons to sell gift cards for Bitcoin are detailed in this post. If you want to hear the founders, Mike and Kyle, discuss about this in depth in a podcast, go here, how to convert Your Gift Cards into Bitcoin.
You Didn’t Like the Gift Card You Got
Gifts can sometimes fall short of expectations. However, this does not preclude you from exchanging them for something you desire. This really is especially true with gift cards, which may be quickly traded for other goods. So, if you get a gift card from a family member, friend, or co-worker that you don’t like, you can sell it for Bitcoin. This is something that others are already doing, and you can join in on the fun.
On coinbaazar a P2P platform where you may sell gift cards for Bitcoin.
To Take Part in Speculative Investing
Bitcoin was the highest performing asset in 2019, according to a Coindesk story. The cryptocurrency outperformed traditional assets such as gold, equities, and bonds, demonstrating its global popularity. Furthermore, as of December 2019, Bitcoin had gained over 9,000,000% in the previous decade. As a result, Bitcoin investment has a lot of promise for those who proceed with caution.
Bitcoin can be purchased in a variety of ways. You could, for example, keep it and sell it later for a profit, or you could sign up for an investment platform that will trade Bitcoin for you. You might also use Nexo.io to earn interest on it. In fact, we prepared an article about how to learn about the top blockchain and cryptocurrency sites for free. Why keep gift cards you’ll never use when you might sell them for a cryptocurrency that could earn you money?
To Get a Reliable Cryptocurrency
For investors who want to avoid the hazards of fluctuating cryptocurrencies, stable currencies are the way to go right now. As a result, you can exchange a gift card for Bitcoin and then trade it for stable cryptocurrencies such as Tether, USD Coin, and Carbon.
Such coins are “stable” because they are backed by stable assets such as fiat money or gold. Other stable coins, meanwhile, rely on algorithms to keep their value stable. As a result, stable coins are a viable investment option with the potential to yield a profit.
Sending Money around the World
Bitcoin facilitates cross-border money transfers, hence boosting the remittances business. Nigerians in the United States, for example, are buying gift cards with cash and emailing a photo of it along with confirmation of purchase to relatives back home. The beneficiaries then use a platform like coinbaazar to sell the gift card for Bitcoin, which they then exchange for their local currency.
While this procedure appears to be lengthy and time-consuming, Bitcoin’s potential to transform the remittances sector is bright if receivers can use it to pay for everyday expenses such as groceries.
To bring in more money
Businesses that receive gift cards as payment may opt to sell and trade them for Bitcoin rather than fiat currency. Gift cards are filtering in virtually every day, allowing such businesses to profit from gift card-to-Bitcoin trade.
Businesses could put the extra money toward improving services or launching new items. Offering a gift card as a payment option often converts better than credit cards because the user can send the e-gift card using store credit (for Amazon gift cards).
How to Keep Yourself Safe
Here are some pointers to consider if you want to sell gift cards for Bitcoin:
Only deal on reputable exchanges. Examine your seller’s feedback ratings if you’re trading on a peer-to-peer service. Check to see if the platform has vetted the seller. Every trade offer on coinbaazar includes information on the seller.
In order to make a trade offer, the seller must provide the following information.
If you’re using coinbaazar, don’t share the gift card data until you’ve confirmed the exchange or certain the code won’t be revealed to the buyer.
Probably start with a tiny trade before moving on to bigger ones. This will offer you a better understanding of how the process works and increase your confidence. It also reduces the chances of losing a large sum of money to a fraudulent seller.
Gift card-to-Bitcoin trading is an opportunity to make money while also learning about cryptocurrencies and blockchain technologies. As a result, go to coinbaazar right now to make your first trade.