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What are gift cards, and how to buy and sell them in Nigeria?
If you are here, you are probably worried as to what are gift cards and how you can buy and sell gift cards in exchange for cash in Nigeria. Here’s all you need to know.
If you are here, you are probably worried as to what are gift cards and how you can buy and sell gift cards for cash in a place like Nigeria; no doubt, they are the perfect ways to gift someone with the flexibility and freedom to buy what they want.
According to a report in 2017, the global gift cards market was valued at approximately 320 billion U.S. dollars and was forecast to reach a value of 510 billion U.S. dollars by 2025.
However, you must be aware that there are some challenges you may encounter when selling gift cards, iTunes cards, and even bitcoin for cash in Nigeria. You may get ripped off your cards!
This money could be paid directly into your bank account or you could convert it to Bitcoin.
What are Gift Cards?
They are debit card that contains a specific amount of money available for use for a variety of purchases. They are a form of prepaid debit cards loaded with funds for future use.
There are generally two types of gift cards: open loop and closed loop cards. Both types can typically be used online and in person.
Many gift cards will have a minimum and maximum initial loading amount. A common minimum is $10, and a common maximum is $500. In some situations, they can be used to pay for a portion of purchase with cash, debit or credit used to balance the expense.
As a precaution to mitigate the risk of losses, many gift cards can also be registered online—a procedure that allows the remaining balance to be tracked and frozen if a card is lost.
In this way, gift cards are safer than cash.
Meanwhile, in Nigeria, there are many online platforms that allow people to convert their cards to cash, mostly because gift cards are not popular for making transactions here.
Here are some platforms where you can buy and sell your gift cards in Nigeria.
Best apps to sell and redeem gift cards in Nigeria
Patricia
Patricia is the industry leader in gift card and Bitcoin exchanges. It allows you to securely buy or sell gift cards and Bitcoin of any value, store them in a BTC or Local Currency Wallet, and smoothly switch between the two for everyday transactions like airtime, data, and cable subscriptions.
Patricia’s card rates are determined based on factors that are beneficial to you. All rates vary, based on the type and volume of the card. The app has over 100,000+ installs on Playstore.
Presmit
Prestmit is a user-centric platform designed to trade, buy and sell various digital assets including gift cards, airtime, and data top-up. It gives the best value return for your card assets. The platform is available for both web and mobile users. The app has over 5000+ installations on Playstore.
Presmit offers three payment methods for gift card transactions. You can be paid in naira or Bitcoin and at the same time, you can convert your gift cards to USDT.
Cardtonic
Cardtonic is a modern gift card exchange platform available on the web, iOS, and Android. Whether you’re new to cards or an advanced seller, Cardtonic offers a safe and secure platform that has your best interest at heart and also offers the best rates for your cards.
The platform accepts iTunes, Amazon, Steam Wallet, Google Play, Apple Store, eBay, Walmart, Sephora, Nordstrom, Target, JC Penney, Best Buy, Nike, Hotels.com, Macy’s, Gamestop, Xbox, Vanilla, G2A, American Express (AMEX), OffGamers, Foot Locker, Visa, Play Station, and others.
With it, you can sell cards within 5 minutes. The platform has 100,000+ installs on Playstore.
GiftCardsToNaira
GiftCardsToNaira is a reliable gift cards exchanger in Nigeria. The app helps to redeem, sell or trade cards for instant cash (Nigeria naira or Ghanaian cedis). The platform buys your cards and pays in Naira, Bitcoin or Ethereum.
You can sell up to 25 different cards on the app. They support Steam, Apple iTunes, Sephora, Google Play, Vanilla, Amex, Nike, Nordstrom, and many more. The app has over 10,000+ installations on Playstore.
Gift card trading platforms are very useful since most people prefer trading their cards for cash and are not inclined towards using them to make online payments.