Gift cards aren't just that thing you find slipped into cards on your birthday; they are tools that can get used for remittance where traditional systems have failed or are unreasonable. This phenomenon has led the way to a growing surge in people trading bitcoin and other cryptocurrencies for gift cards around the world.
The problem is the increasing restrictions on use, and the aging platforms of some peer-to-peer (P2P) exchanges have made it hard to find a place to exchange gift cards for crypto safely, but there is a solution, and it's the best way to trade gift cards as we head into 2021.
Can You Buy Gift Cards with Bitcoin?
Using P2P trading on a marketplace like LocalCoinSwap allows you to buy bitcoin using gift cards from traders in Australia, Nigeria, India, the United Kingdom, and across the world. If you are looking to purchase gift cards, P2P trading is a great way to do it, and using the most popular non-custodial P2P marketplace is even better.
How Do I Redeem a Bitcoin Gift Card?
If you ask this question, you may be confusing bitcoin gift cards with gift card cryptocurrency trading. The difference is bitcoin gift cards are offered by some companies and act as credit that is redeemable for bitcoin; however, this is not the same as when you buy bitcoin with a gift card.
If you are wondering how to redeem a specific type of gift card that is redeemable for bitcoin, contact the provider of that card for specific instructions as individual types of cards will vary in how you can use them.
Can I Buy Bitcoin with Google Play Card?
Yes, simply head over to LocalCoinSwap and use the handy search bar to select that you wish to buy bitcoin using the payment method "Google Play Gift Card.” Don't confuse this with Google Pay, which is another form of payment type sometimes used for P2P exchange. Searching for traders that accept google play cards is easy on LocalCoinSwap.
Just select the options from the drop-down selectors, and you should end up with something that looks like this:
Suppose you want to buy from traders in a specific region. In that case, you can easily set that too and, if necessary, modify some other advanced options by clicking the secondary menu under the search bar. You can also sort the results by price, popularity, payment method, and cryptocurrency accepted.
How Do I Buy Bitcoin with an Amazon Gift Card?
Just as you would when searching for other payment methods on LocalCoinSwap, you can simply use the search bar to select "Amazon Gift Card.” Some traders even allow payment using the Amazon wish list but if you are looking for gift card trades, choose the former.
If you can't find a suitable trade offer, or you want to become a vendor on LocalCoinSwap yourself. Select "Create Offer," and you can have your custom trade offer set up and live for all to see in a matter of moments. If you're an active trader on other P2P exchanges, you can even import your trade history to show other traders on the platform your previous record and trading experience. To learn more about importing your trade history on LocalCoinSwap, check out this simple guide.
Does Amazon Accept Bitcoin?
Unfortunately not, however, this is something that hopefully changes in the future. In the meantime, it's likely the P2P traders will continue to exchange Amazon gift cards. As the adoption of bitcoin and other cryptocurrencies increases, we will probably see more companies (like Amazon) starting to embrace accepting payment in bitcoin. With the recent uptake of cryptocurrencies by PayPal, it really wouldn’t be a surprise to see other large companies like Amazon joining in on the action.
If you are looking for things to buy with bitcoin, there's still plenty of options out there for when you wish to spend your bitcoin directly. To find out more about what options you do have, check out our article covering the topic of what you can buy with bitcoin!
Where Can I Sell My Amazon Gift Card for Bitcoin?
It doesn't matter if you want to buy or sell bitcoin for gift cards like those from Amazon; LocalCoinSwap can help. More traders are moving over to take advantage of the modern approach to P2P trading provided to traders worldwide.
You can even put up your own sell offers that accept Amazon gift cards without having to pre-fund your trade offer, just in case it takes a little while to find the right trader to make a deal. There's no need to have your crypto locked up waiting to advertise your services when trading on LocalCoinSwap, just one of the reasons it's the best way to sell gift cards for bitcoin in 2021.
How Do I Buy Something with an Amazon Gift card?
If you have bought an Amazon gift card using cryptocurrency, you may not yet know how to redeem it. Thankfully it's quite simple to add the balance to your Amazon account. Just head over to Amazon, and by using either the app or website, you can redeem your card following the prompts in your account settings.
If you are buying Amazon gift cards P2P, be sure to apply the balance before accepting that payment has been received to ensure that the seller couldn't use the balance themselves after the escrow has been released.
Taking advantage of the protections offered by the escrow process is essential, so make the most of it when trading Amazon cards, or any other for that matter. Having the protection of escrow is one reason why P2P is such a great way to trade not just gift cards but hundreds of different payment methods that you can find supported on LocalCoinSwap.
What are the Best Gift Cards to Exchange for Bitcoin?
With so many gift cards to choose from, you may be wondering how you know which to get if you want to exchange them for crypto or which gift cards you have lying around that could be the most valuable. While it does vary depending on the region, supply and demand, and just general preferences of the traders you end up dealing with at any given time. There are a few types of cards that stand out from the rest that you will typically be able to find buyers for without too much trouble and likely get the best rates when exchanging your gift cards.
Amazon Gift Card
Amazon is an enormous company and seemingly expanding from the United States, Australia, and beyond. If you are looking for a gift card to trade, these can be one of your best bets for finding a trading partner fast. Due to the demand for these cards, you can also expect a fair market rate for them that will be better than some other less flexible options.
Google Play Card
While the going rate for Google Play cards does vary, due to the prevalence of Android phones worldwide, there's quite a good demand for these. Thanks to the price drop in recent years, attaining an android device are something that is possible in almost any part of the world, and even regions that were once left when it comes to modern technology are starting to become more involved thanks to the reduced price barriers of lower end and budget orientated devices. If you want to exchange gift cards anywhere, this is one of the better options for that kind of flexibility if it is a priority.
iTunes Gift Card
Similar to the previous entry in this list of the top gift cards to trade for crypto, the iTunes card is still a formidable choice for payment methods when it comes to gift card exchange. These tend to hold value relatively well during an exchange. While the iPhone and other Apple devices can be on the pricier end of the market, older devices have very much trickled down and have reached the hands of quite a lot of people giving you a fairly broad market for this type of card.
Netflix Gift Card
Everyone knows somebody who has a Netflix account these days, and if that person is you, you probably already have a few friends and family filling in those extra spots. With Netflix becoming so popular, it has become a long-term expense that many people consider, so if there is a way to get a bit of a discount, people will often jump at it. If you received a Netflix gift card as a gift and would rather have some bitcoin instead, there's very likely to be plenty of traders around willing to take it off your hands to save a few bucks on their next couple of bills without having to eat into their credit card balance.
Steam Gift Cards
Another popular option for trading cards for crypto is the Steam gift card. However, it is one card that people will often be a little cautious when accepting. Many people have piled money into their Steam accounts over the years, and some have acquired significant collections, so taking fraudulent cards can put them at risk of having their accounts closed or frozen. However, if you can prove genuine ownership of this type of gift card, you shouldn't have too much trouble selling them for crypto at a bit of a discount.
Other Gift Cards You can Trade for Bitcoin Include:
- Vanilla Visa Gift Card
- Walmart Gift Card
- PlayStation Network Gift Card
- Mastercard Gift Card
- Visa Gift Card
- Gamestop Gift Card
- Xbox Gift Card
- eBay Gift Card
- OneVanilla Gift Card
Trading Gift Cards Doesn't Have to Be Hard
While some P2P marketplaces can make it cumbersome or otherwise challenging to trade gift cards, LocalCoinSwap makes it easy. There are no excessive fees, and if you respond to someone else's offer, you can trade gift cards with no fees at all! If you choose to become a vendor and create your own offers, you only pay a 1% fee on completed trades.
You don't even have to keep your crypto waiting around for trades if you are selling. There's no need to prefund crypto sell offers, making it easy and convenient trading everything from the Best Buy card you had laying around you probably won't end up using to taking advantage of gift cards to remit money to your family and friends back home where other methods can be extremely expensive or impossible to access.
Sign up is instant, support is fast, and trading is easy when it comes to LocalCoinSwap. Get started now, and you can be trading immediately, start getting those old gift cards out of your wallet and replacing it with bitcoin or something else from a range of popular cryptocurrencies in one of your other wallets instead.
Convert your credits trapped on those cards to crypto, and you can even trade against your local currency, allowing you to exchange crypto with USD, AUD, Naira, Rupee, or whatever you need.
Start making transactions and maybe even start making a little extra money for yourself by becoming a P2P vendor. Take control of your value, in whatever form you have it.