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Hello Reader, Did you search for useful information on Exchanging Bitcoins for Gift Cards, This Detailed post contains all the necessary details on How to Exchange all Gift Cards for Bitcoins.
Buying Bitcoin with Gift Cards in Nigeria (Trade-giftcard.com)
Bitcoin gift card is the key term for exchanging Bitcoins for Gift Cards. This means that you can buy the desired gift card for cheaper and anonymously by using Bitcoin. On the other hand, you will be able to buy some Bitcoins by selling a Gift Card you already possess.
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Bitcoin is becoming ever more popular, especially with the current increase in its value. The price of Bitcoin has hit the $1,000 USD mark within the past few days (January 5th, 2017) and this is obviously causing people to take notice, ushering in a new wave of first-time Bitcoin users.
For many new users, buying Bitcoins can be a chore all unto its own. With current regulations in the United States and the lack of feasible international buying options, more and more would be new users are forced to turn away from Bitcoin instead of finally embracing it. The solution to this problem is called Bitcoin Gift Card!
There is a solution!
Bitcoin can be easily bought using gift cards. Gift cards for any retailer will work just fine for this purpose. All you have to do is go grab a gift card for places like Amazon, eBay, Panera Bread, etc…. Even Visa and MasterCard gift cards can be bought. It is simple, easy and gives anyone a payment option.
First, we will cover how to get Bitcoin by using gift cards.
Simple steps to get Bitcoin gift cards
Follow these simple steps to buy Bitcoin with your favorite gift cards:
1. Get a Gift Card
Most Bitcoin sellers will want to see an image of the actual gift card code from the back of the card, along with the receipt that the store gives you upon purchasing it. Some sellers may accept online or e-codes, and we will cover that a bit later.
2. Find a Bitcoin Seller
Once you have the gift card, visit Trade-giftcard.com which is very simple and takes very little time.
3. Start a Trade
Search or browse for Bitcoin Sellers that accept gift cards and start a trade with them.
Once you open a trade, the seller’s Bitcoins that you wish to buy will be placed automatically into escrow by the site you are using so you will know it is safe to give the seller the gift card information.
I will give some tips below on staying safe and protecting your assets.
If you have an e-gift card code, then make sure to find a seller that accepts them as a form of payment and be sure to follow all of their instructions.
4. Conduct the Transaction
Once they have received the gift card code from you and verified that the funds are available, they will release the Bitcoins from escrow and you will have immediate access to them in your wallet on whichever site you conducted the trade.
5. Say thanks, Access Your Bitcoins
Congratulations, you have just purchased Bitcoin using a gift card!
Make sure to leave feedback for the seller and then you can go visit your wallet page to view your brand new balance of Bitcoin!
Simple, easy and effective. Best of all, you did not have to jump through hurdles, provide your debit or credit card information to strangers or wait for days until a bank transfer clears.
6. Remember to stay safe
While both Paxful and LocalBitcoins.com.ng are well respected and trusted sites, it does not mean that every single seller is as respectable or trustworthy.
- Make sure that you take screen shots of your transaction at various steps.
- Keep a record of everything that you can submit to the website owners in case there is any funny business.
The last thing you want to do is give someone a perfectly good gift card and have them spend it and then not release your Bitcoins.
Some tips to stay safe:
Only deal with trusted sellers.
- Look at feedback ratings and whether or not their information has been verified or not by the website.
- Ask questions before you give out the gift card information and be absolutely comfortable with the trade before handing over the gift card codes.
- As the buyer of Bitcoin, you will have the ability to cancel the trade at any time, but remember, if you cancel after giving the seller the gift card code, there is nothing stopping them from using the funds, so make sure everything is on-par before giving out that number!
Buying Bitcoins using gift cards can be a fun and easy way for you to get your hands on Bitcoins and get into the game. With the price fluctuating as it does, it can be a great way to stock pile some Bitcoin and make a good chunk of change in profits the next time it is on the rise.
Harness the full power of your ability to purchase Bitcoins with gift cards by buying the gift cards cheaper than their value. There are endless places, both online and in your local area that sell gift cards for up to 60% of the face value of the gift card, so be sure to hunt and shop for the best deals and maximize your profits each and every time.
Best places to buy and sell Bitcoin Gift Cards
There are many platforms where you are able to trade Giftcards for Bitcoins. Here is a list of the 7 best we have yet stumbled upon.
Remark: The order of the cards doesn’t show which is the best since each offers unique features. Though we prefer the real gift card websites more than the peer-to-peer ones.
1. Trade-giftcard.com
Pro’s:
- The Platform with the widest variety of retailers.
- Many Payment Methods: Bitcoin, VISA, MasterCard, American Express, Discover, PayPal and Apple Pay
- Awesome App: It saves your gift card, so you will never forget or lose it!
Con’s:
- Currently (26.01.2017) only available in America. This means that you need to change your IP before you are able to purchase a bitcoin gift card.
- Selling Gift Cards for Bitcoins is not possible.
2. eGifter.com
Pro’s:
- Earn Points: For each Bitcoin spent you are earning points which can be used for discounts on the next purchase.
- 0 Fees for Bitcoin Gift Cards
- Group Gifts: You can easily start a group gifiting project and everyone can contribute for the choosen gifting card.
- Many Payment Methods: Bitcoin, VISA, MasterCard, American Express, Discover and PayPal
- App: It saves your gift card, so you will never forget or lose it!
Con’s:
- Lot’s and lot’s of cards, though not as many as in gyft.
- Selling Gift Cards for Bitcoins is not possible.
3. YesToBitcoins.com
Pro’s:
- No registration needed.
- Amazon Gift Cards, Credit Card Vouchers
Con’s:
- Currently (26.01.2017) very few gift cards available.
- Selling Gift Cards for Bitcoins is not possible.
4. CoinCards.ca
Pro’s:
- Specialized Bitcoin Gift Cards for Canadians – more than 100 Canadian retailers.
- Great exchange rate.
Con’s:
- Currently (26.01.2017) they are specialized only for Canada.
- Selling Gift Cards for Bitcoins is not possible.
5. giftoff.com
Con: Currently (26.01.2017) very few gift cards available.
Pro’s:
- Most cryptocurrencies (30+) available: Spend your BTC, LTC, DOGE, NXT etc.
- Make everyday purchases with digital currencies. Earn 2% back in Gift Off Points
Con’s:
- Currently (26.01.2017) there is amazon.co.ck and amazon.de, and mostly European merchants available.
- Selling Gift Cards for Bitcoins is not possible
6. Paxful
Pro’s:
- 300+ payment methods including loaded gift cards.
- Buy and Sell options.
Con: Peer to Peer Bitcoin Marketplace – good prices but one needs to watch out for scammers.
7. LocalBitcoins.com.ng
Pro’s:
- Gigantic community + Forums
- Buying as well as selling is possible.
Con: As it is a Peer to Peer Marketplace, the risk is higher than normal.
Interesting Fact: On average, customers spend 20% more than the value of their gift card.
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No doubt another great guide on BTC for Nigerians. Thanks