You might get gift cards as rewards from your employer or you might get one on your birthday. These gifts cards often pile up unused. Then you need to think of ways to sell gift card for cash. There are two problems with this. You might not find a buyer easily. If you do, the rate offered might not be worth the trouble. A much better option is to sell gift card for bitcoin. If you have been living under a rock for a decade, let me enlighten you. Bitcoin is a digital currency that operates independently of any central bank.
If you are planning to sell gift card for bitcoin online, here are 5 places you must visit:
#1. CoinCola
One advantage of CoinCola that makes it one of the best options to sell gift cards online is that it is very simple and convenient. That is why more and more people prefer to sell gift card for bitcoin through CoinCola. The gift cards you sell would be converted to bitcoins in a matter of seconds. That is so much more convenient than trying to sell gift card for cash. You can name any major gift card provider, and CoinCola has it covered. You will find support for Amazon Gift Card, Google Play Gift Card, and even iTunes Gift Card supported at CoinCola. The website also provides a rating for each available exchange, to help you choose. There is usually a USD limit specified for each available transaction. The transactions are as safe and secure as when you sell gift card for cash. The excellent customer service is the icing on the cake here.
#2. Paxful
Think of Amazon Gift Cards, Sephora Gift Cards, Steam Wallet Gift Cards, iTunes Gift Cards, or Walmart Gift Cards. All of them are supported by Paxful if you want to exchange them with bitcoins. It is no wonder that they have successfully traded almost a million bitcoins so far. There are more than 800000 satisfied customers of Paxful, which is saying quite a bit. One of the reasons is that they have made the process so simple. All you need to do is keep the receipt when you buy any gift card using cash. You then submit the receipt on the website and get bitcoins in return. Paxful is not constrained by geographical limitations.
#3. Gyft
Gyft was one of the first portals to accept bitcoins as a medium of exchange while buying or selling gift cards. You can use Visa, Mastercard, American Express or Discover on this portal. You need to open an account, and all your transactions get stored there. In fact, if you are buying gift cards instead of selling, the card numbers are also kept available there. That saves you the trouble of remembering long numbers. The large number of partners of Gyft is a definite advantage. Some random names I can recall are eBay, Dunkin’ Donuts, Gap, Target, and even Home Depot. One area where they need to work on is to make the service available in all countries. Also, during special events like Black Friday sales, the system to sell gift card for cash often crashes.
#4. CardForCoin
Unlike the other names on this list, Cardforcoin has a rather limited canvas. It deals with gift cards of only Starbucks, Target, and Walmart. Users can log in directly with their Facebook, Twitter, or Reddit account, instead of having to open a new account. The entire transaction takes place securely online. You do not have to submit the card anywhere. You just need to key in the gift card number. It wouldn’t be used till you actually accept an offer against it. Once Cardforcoin has verified your card number, they would make you an offer of bitcoins. Once you accept, they would make the gift card inactive on your account, and keep it for their own use. In return, the BTCs would be credited to your wallet. The great thing is that you trade not only in BTCs, but also in other cryptocurrencies like ETH, LTC, and even BCH.
#5. LocalBitcoins
The biggest advantage of LocalBitcoins is sometimes considered a major disadvantage by experts. It is a completely peer-driven marketplace where you can sell gift card for bitcoin or buy gift cards using bitcoin. Also, it has the biggest community of users. This strength can sometimes become a problem because it becomes difficult to filter for fraud. If you search the internet, you might find many instances of people being duped. The website is a user-friendly place for all transactions. It also provides the latest news and developments related to cryptocurrency. You can also filter for specific countries and even cities for your favored transactions. There is an unbelievable list of 248 countries and 7611 cities in which you can trade. In some of those countries, it is the only authorized portal for such trades.
Conclusion:
The concept of exchanging unused gift cards for useful bitcoins is a very convenient one. But there are a few caveats to it. You must beware of scammers who infest such portals. Also, when you actually begin the process, you will realize that you will never get bitcoins equal to the face value of the card. On top of that, there is the correct bitcoin value to be assessed. This is not something you should get into without carrying out due diligence. But when you do, these five service providers are good places to begin from. This list is not in any particular order and you can log on to any of these listed websites and check things out for yourself.