Trading gift cards for the most valued crypto asset (Bitcoin) has become a trade seek by many.
Fortunately, there’re many reliable platforms that allow the trading of gift cards for different assets of which Bitcoin is one of them.
The mechanism for this trade is peer-to-peer. This means there is another user of the platform that’s willing to trade Bitcoin for your gift card. You’ll receive Bitcoin worth the agreed worth of your gift card.
At this point, it looks like trade with huge risk and if you’re new to the whole peer-to-peer exchange thing you might begin to wonder how these exchanges have managed to survive this long. However, it’s not that risky if you understand the mechanism and follow simple tips for safe trading.
I’ll share simple tips on trading your gift card safely after the list below.
Best Sites to Trade Gift Cards for Bitcoin
- Paxful. Very popular and open to the international market, performed gift card trades amounting to $817M in 2021. The trade was for gift cards for other assets of which Bitcoin made up a significant part.
To trade on Paxful, you need to verify, the level of verification required by Paxful differs per country.
On the Paxful app, tap on ”Market” on the “Pay Via” field and select “Gift Card”.
Tap on ”Find Offers”.
Then you see a list of offers and what the rate is. Go ahead and select a buyer.
- LocalBitcoins. They started in 2012, LocalBitcoins has been around for almost a decade and the volume of trade keeps growing. You will find a lot of traders willing to exchange Bitcoin for your gift card.
These are the 2 recommended gift cards to Bitcoin international exchanges. If you’re in Nigeria you may want to consider the exchanges which are quite closer to you.
Best Sites to Trade Gift Cards for Bitcoin in Nigeria
- Patricia. This is the most popular in the country and also has the highest volume of trade. Simple interface navigating to the P2P section isn’t difficult.
- Presmit. Also trusted and has been around for a while. Has a really wonderful customer support.
- Bitcardy. This platform is relatively new yet reliable. They’ve featured on Vanguardngr and registered with the appropriate authority in the country.
Now, to our tips on trading your gift card safely.
- Pick buyers with many trade history.
- If you have more than one gift card start by trading one before trading more.
- Pick reliable platforms with a good escrow mechanism in place.
- Don’t trade outside the platform.