It has come to my understanding that not most people know that they can monetize their already gotten gift cards which won’t be of any use to them. Good news is, you can always cash-back on your gift cards (iTunes, Steam, Google play, Amazon etc.)
On this article, I’ll be enlightening the large percentage that have got idea on how to redeem this cards on a popular site known as PAXFUL.
- Create a profile on PAXUL: this is the first and basic step on redeeming your gift cards. All you have to do is visit the official paxful site www.paxful.com and register for a profile, once you’ve clicked the creating of account or register on the site, you follow the steps as prompt.
Which includes you having an email, a mobile number, a regulatory identification card, the steps are very easy like on every other registration process on other website but one important thing you must not forget is the Two factor verification setup (2fa) I can’t stress this enough, I once fell victim of paxful hackers during my early stage in trading on paxful, the amount stole was just $130, it’s not much right now but that was about 95% of my capital back then, so you will do well by setting up the 2fa on your paxful account.
- Get a new gift card: this the basic reason for creating the paxful account, before any trade can be done, you’ve obviously got to have a gift card at hand (not an already used card). Cause several attempt of trade with an already used card can get your account suspended or permanently restricted. Also note that transactions are been done with bitcoin (you get bitcoin worth the amount agreed on payment). This means you won’t get the exact worth of the gift card in bitcoin, a gift card is meant to be used at the designated stores or any outlet of such store within the same country of the issuance. I hope the last statement was clear? What I was trying to say is, if you have Amazon card of $50, the only place you can use it physically is at Amazon stores in United States or you can as well load them to your Amazon account and use the balance to shop but that includes various steps and time so you might not want to wait that long or need quick cash, in that case you have to sell your Amazon gift card at a discount rate. Most times you get between $55-$75 from an Amazon card of $100, the rate varies with bitcoin, Bitcoin is a very lucrative way to make money in this present age and time, you can learn how to make money from Bitcoin in Nigeria here.
- Look for a good offer: In looking for a good offer to trade your gift card you must login to your paxful account .
4.Click on the BUY BITCOIN button, when you click on the button you will have the image showed below.
5.This page you will get the image below where you will have the opportunity to enter the face value of your card, for the sake of this article I will be using $50 Amazon card to make the process easier. So we have $50 Amazon card, the currency is US dollars so we can go ahead to fill the BUY BITCOIN button form , for you fill the first space with the amount or price of your card, choose the currency of your card e.g USD (United States Dollors) AUD (Australian Dollars) CAD (Canadian Dollars) NZD (New Zealand Dollars) GBP (Great Britain Pounds) e.t.c and lastly choose the type of card (e.g Amazon, itunes, steam wallet card, Google play card e.t.c.)
You can as well read on how to trade gift cards on localbitcoins here and get paid in Naira
6. After you you filled out the form containing details about your card (card amount, currency and card type) then you can move on to click on the search button below.
7. After you click on search button, list of active buyers for your card will be displayed to you starting with the one with the highest rate, don’t mistake high rate for good business here, you have to check if the buyer is online, by checking the last seen, the user must have good numbers of positive reviews, if all these conditions are meant then you can click on the buy button beside the buyer’s offer, here’s a screenshot of what I’m saying.
8. Once you click on the buy button you will be directed to next page where you have to specify the amount of your card again, when you input your card value this time it auto calculate the Dollar amount you will get after a successful trade in bitcoin, you can as well do the calculation yourself so you can pick the best rate, to do this calculation all you have to do is multiply your card value by the decimal rate displayed as rate, for example we’ll trading with the second buyer with 0.63 rate, so if you want to trade $50 Amazon card with him then you can calculate the amount of Dollars to expect by multiplying 0.63x$50 =$31.5, meaning you will get $31.5 from a successful trade of $50 Amazon card with the buyer.
9. Once the trade interface is opened, the first thing to do is to send the buyer a message, something like “Hello” once he/she replies then you can tell the buyer the face value of your card, for an Amazon card trade the buyer might request the receipt of the card so you will do well to have the receipt with you, you can proceed to send the buyer the receipt by clicking on the upload button if you’re using laptop to access paxful site or click on the camera button on mobile display to upload your recipe and gift card.
10. After you upload your document(s) most importantly the gift card then you can click on the blue paid button, if you’re accessing Paxful from a mobile phone then you have to click on options and click on the blue paid button.
11. A screen will pop up asking you if you’ve sent the gift card and have followed the instructions, once you’re sure you uploaded the gift card you can then click on the blue button that says “Yes, I have followed all the instructions above” , the importance of clicking the button is for the trade not to expire, each trades expires after 30 mins, but once you click the paid button it won’t expire again, in cases whereby a buyer might want to rip you after you’ve uploaded a valid card then you can report the buyer which leads to dispute, during the dispute period paxful moderator will look into the issues and award the coin to whoever they feels deserves the coin, in most cases Paxful favors the sellers.
12. After you click on the “PAID” button the next screen you will get will look like the one below.
13. After this you wait will the buyer load the card you sent and release the coins for you. Sounds good right ? the next thing to do is to sell your bicoin and get your Naira or any currency of your choice, there are many rippers out there so you’ve got to very careful who you sell your bitcoin to, I own and run an exchange business named Sloo Xchange, you can trade with me anytime, you will get the best rate always and your coin is in a safe hand, here is the link to my exchange website www.slooxchange.com you can trade with me on whatsapp with this number +2349013028491 or +2348189060773, I buy bitcoin, paypal funds and gift cards, my rate is far better than paxful, a single trade will convince you.