You know what the best gift is – for anyone? Even if you don’t know them well, and you are not sure what the occasion is. Give them a gift card! A crypto gift card, to be more specific.
Paxful, Egifter, BitRefill, CoinsBee and Coincola – we’ll talk about them all!
They are great, and NOWPayments will tell you all about them and their advantages!
The use of gift cards has increased significantly since the onset of the COVID-19 pandemic and its influence on the world of finance. Crypto is gaining popularity, and the sphere of gift cards is following suit.
Today, there are many market places where users can buy gift cards for Bitcoin amongst other digital currencies. If you’re looking to exchange your gift cards for crypto or vice versa, this article will highlight some of the market places, available gift cards, and how to redeem utility after purchase.
Of course, the bestest way ever to come into possession of some crypto is to accept crypto payments – you know that, right? And then celebrate this with the gift cards, why not.
Advantages of buying and selling gift cards for crypto
Gift cards have been around for some time now offering users a good alternative to cash. They are also extremely easy to get, buy and cash in. Most of these gift cards come from top shops and stores including Amazon, iTunes, Carrefour, Walmart, eBay, Netflix, etc.
Exchanging them for cryptocurrency has its pros:
- Easy to exchange: All you need is a cryptocurrency wallet (non-custodial wallet or a custodial one – your choice, but make it an informed one), an exchange account (some listed below), and you can start buying and selling gift cards for crypto.
- Global use: Remember, we mentioned Amazon, Walmart, Starbucks, etc? Need we say more?
- Getting cash: Sometimes you have gift cards that you really don’t want to use or you simply forgot to use. Exchanging them for cryptocurrency is an alternative way.
What to check for before buying and selling gift cards for crypto
- Make sure the P2P platform you choose accepts the gift card you are exchanging for crypto.
- Check the reliability of the gift cards.
- Is the gift card redeemable or expired?
- Gift cards usually sell at a discount – check for the best-discounted prices when buying and selling for crypto.
How to buy and sell gift cards for crypto
Currently one of the leading P2P crypto marketplaces, the world’s largest p2p Bitcoin platform with dozens of gift cards, Paxful also facilitates the purchase of gift cards with bitcoin. This P2P ecosystem goes a notch higher to provide a platform for gift card sellers looking to cash in crypto as well; a user can therefore create buy or sell offers depending on their position.
With the exchange available in multiple jurisdictions, its users have access to multiple gift cards including top brands such as iTunes, MasterCard, Google Play, and Steam wallet gift cards. All these are currently on offer within the Paxful P2P platform and can be purchased or sold for bitcoin.
In most cases, the platform users prefer gift cards that were physically bought and will go to the extent of a picture requirement. It is also quite noteworthy that the buyers opt for gift cards with a printed denomination (could be $50 or $150), depending on the target value.
eGifter is a U.S based company running a mobile and web application that allows its users to purchase gift cards for themselves or others via a couple of payment options. Most notably, it accepts crypto payments not limited to Bitcoin, Bitcoin Cash, Bitcoin SV, Litecoin, Ethereum, XRP, and Dash.
Crypto users looking to buy gift cards can leverage eGifter’s ecosystem to acquire a wide range of gift cards. Some of the products that the application offers include physical and digital gift cards for popular stores such as Walmart, Amazon, Macy’s, Uber, Dunkin Donuts, and Wayfair to mention a few.
With access to over 300 brands, eGifter users who prefer to use bitcoin for gift card purchases can now redeem their crypto value quite seamlessly. For instance, you can buy an Amazon or eBay gift card with bitcoin and later redeem its value by making an item purchase, depending on the prepaid amount.
Bitrefill is situated in Sweden and has been operational since 2014; the firm is a crypto-only entity whose products include gift cards, lightning networks, and prepaid mobile refills. Users can buy digital gift cards with bitcoin, amongst other services offered by the company. You can also initiate a gift card purchase with other altcoins.
While the Bitrefill gift card range is not as diverse as eGifter’s, the firm has featured popular brands like Hotels.com, Reddit, Roblox, HotelGift, and Flightgift. The company also runs its own e-commerce gift card dubbed ‘Bitrefill balance card’; these are either EUR or USD dominated.
Through this balancing card, users can purchase gift cards or mobile refills from anywhere in the world. The process is quite straightforward; it only requires one to create or login into their Bitrefill accounts in order to redeem a gift card. Alternatively, you can shop directly from the EUR or USD Bitrefill account balance.
Coinsbee is another platform where you can buy gift cards from over 500 brands with bitcoin and other altcoins including Ethereum, Litecoin, Bitcoin Cash, and the DAI stable coin. It also features mobile phone top-ups with accessibility in over 148 jurisdictions via 440 service providers.
The Coinsbee marketplace facilitates crypto gift card purchases for various sectors with E-commerce leading the pack. Some of the popular featured brands include iTunes, Amazon, Spotify, Netflix, eBay, and Zalando. Coinsbee has also integrated a few gaming and payment industry services within its crypto gift card market.
As for redemption, the value embedded in Coinsbee crypto-focused gift cards can be realized by spending them in online casinos or shops. Users have the option to purchase gaming credits or use prepaid cards via the Coinsbee voucher gift card that they have bought with crypto.
This platform is an OTC crypto exchange and marketplace headquartered in Hong Kong; its business includes a gift card trade network that allows users to buy and sell these assets across the globe. Being a crypto exchange, it is much easier to maximize value from the Coincola crypto gift card market.
The Coincola ecosystem features prominent brands like Netflix, Steam, Play Store, and the iTunes gift cards, all of which are purchasable with bitcoin. In most cases, the participants in this market rely on fundamental features such as e-codes, receipt, or a picture of the physical gift cards in order to buy them for crypto.
If you’re looking to buy or sell gift cards for crypto, this is probably one of the best platforms out there. The Coincola crypto market place sets out to balance the gift card demand and supply dynamics by connecting users from all over the world. For instance, user A in Africa can sell their gift cards to user B in Asia for crypto.
Parting shot: Take good care while exchanging gift cards for crypto!
As the world adjusts to the new normal, online shopping will probably be a defining part of this evolution. Therefore, the demand for gift cards could ultimately increase given the exposure to this form of value and global availability in burgeoning markets like crypto. If you’re looking to be part of this future, you’ve probably come across a value proposition in the featured crypto gift card market places.
Nonetheless, it is always prudent to dig deeper if you’re going to buy or sell gift cards for bitcoin; this will provide you with better insights on what product best suits your needs.
Frequently Asked Questions
Can I buy or sell gift cards for bitcoin?
Yes. You can buy or sell gift cards for bitcoin and other altcoins in various market places that already feature such services.
How do I spend a gift card bought with crypto?
You can spend your crypto acquired gift cards directly or indirectly depending on the services offered by providers in this niche. Some facilitate the sale of physical and digital gift cards while others wrap this value in spendable vouchers.
Why use NOWPayments.io?
NOWPayments is the easiest way to accept online payments in a wide variety of cryptocurrencies. This service is custody-free, has competitive fees and is available worldwide.
- Over 50 cryptocurrencies are accepted on the platform with an in-built exchange feature;
- API, widgets, plugins and a donation button are all easy to integrate;
- It is a non-custodial service ensuring the security of your funds;
- A very simple setup