If you're looking to make some extra cash, selling gift cards online is an easy way to do it. With services like Giftocash, you can easily exchange your gift cards for bitcoin with the click of a button. It's fast, easy, and secure - and best of all, you don't even need to leave your couch!
But while selling gift cards online may be easy enough, there are still some important things you need to consider before getting started. Things like: how much should you list the card for? What if the card gets redeemed? Do I need to pay taxes?
In this article, we'll discuss all the essentials of selling gift cards online - from understanding your value proposition and setting up a payment method to finding the right platform and staying secure. By the time you're finished reading this article, you'll be an expert in trading bitcoin for gift cards!
How to Choose the Best Gift Cards to Sell
When it comes to selling gift cards online, there's no shortage of options. From CardCash to Raise and Cardpool—not to mention trading for an Amazon gift card—you can find the perfect platform for offloading your unwanted gift cards.
But what's the best option for you? Here are three key tips for finding the right platform:
Pay attention to fees: Different platforms may have varying fees, so make sure to check if there are any hidden or additional costs before you commit.
Compare rates: Different sites offer different rates on exchanges, so compare them before settling on one.
Research platforms: It pays to do your due diligence when looking at different platforms and deciding which one works best for you. Read reviews, consult threads on Reddit, or reach out to other investors who may have experience with a particular exchange platform before signing up.
Setting the Best Price for Your Gift Cards
When selling your gift cards online, you'll want to set the best price for your cards so you can get the most for them. There are a few things to keep in mind when deciding what price to list your gift cards at.
First, consider the average discounts on gift cards from major retailers. By buying and using discounted gift cards, you can save up to 12-15% on your purchases. If you're selling a $50 gift card for a major retailer, that could mean another $7-8 in savings on top of the price you paid.
Second, think about how much cash you're expecting to get out of it. When selling gift cards online, they often come with a slight discount—anywhere from 50-70% off face value. That means if your card is worth $50, it's likely you'll be able to receive $35 or even more in cash.
The price you set for your gifts cards should reflect these possible returns so that buyers can see the value in purchasing them from you.
Understanding Bitcoin and Its Use as Payment
Selling gift cards for bitcoin can be an effective and secure way to purchase the cryptocurrency. This is because, when you use Giftocash, all payments are made using bitcoin. To understand this system better, here's a quick rundown of what bitcoin is and how it works:
What is Bitcoin?
Bitcoin is a digital currency that runs on a decentralized, open-source, peer-to-peer (P2P) network. It is independent of any government or central bank, which means it isn't vulnerable to devaluation or overprinting like traditional currencies.
How Does Bitcoin Work?
The process of sending and receiving payments with bitcoin works by using a wallet address. A wallet address is an alphanumeric identifier that allows users to send and receive payments in different forms of cryptocurrency. All payments sent through the wallet are usually verified within an hour — no matter the size.
With the help of Giftocash's BTCPay Server, sellers can easily accept bitcoin payments with zero fees. Furthermore, these transactions are completely anonymous and secure – giving you complete control over your money at all times.
Finding the Best Platforms to Sell Gift Cards
If you're looking for a good platform to sell your gift cards, there are a few things to consider. First and foremost, you want a reputable site—like CardCash—for your exchanges; this makes sure that you get good money for the cards and that the process is secure. Additionally, Raise offers a great deal of cashback for many of its gift cards, plus it also offers rewards for completed transactions. Another great option is the CardSell app, which allows you to sell your gift cards quickly and securely.
It's always good to do a bit of research to find out which platform works best for you; they all have different features, so make sure you pick the one that suits your needs. You'll have different options when it comes to selling through each platform—such as whether or not they'll take your card—so take some time to compare them before deciding which one is right for you.
Tips for Securing Gift Card Transactions Online
When selling your gift cards online through platforms like Giftocash, there are a few tips you can keep in mind to ensure safe transactions:
Avoid Online Auction Sites
When purchasing gift cards for resale, it's best to stick to trusted retailers. Don't buy from online auction sites as there's an increased risk of fraud if the seller turns out to be unverifiable.
Exercise Caution While Buying Gift Cards Online
Do your due diligence when buying gift cards online. Always confirm the identification of the seller before buying and only work with reputable sites.
Monitor Transactions for Fraud Protection
To protect your business against card fraud, always monitor your transactions. Be on the lookout for any suspicious activity, such as large amounts of gift card purchases and redemptions coming from a single IP address. Taking the necessary precautions can help ensure seamless and secure transitions when trading bitcoin with gift cards.
Maximizing Profits When Selling Gift Cards
When selling gift cards, there are a few simple strategies you can use to maximize your profits.
Cross-merchandising can be a great way to advertise and market gift cards in store. Pairing them up with items that are closely related will create more impressions, leading to increased sales. For example, if you're selling restaurant gift cards, they can easily be sold in the deli section of the store since customers shopping in that area may be looking for a quick and easy dinner option.
Utilizing Unused Credit
Tapping into unused credit is another great way to boost your profits when selling gift cards. Over 60% of gift card users spend an average of 38% beyond their card's value. This means that if the card is for $50, the customer may end up spending close to $70! So don't forget to include discounts or special offers when marketing these gift cards in order to encourage additional purchases from buyers.
By taking advantage of cross-merchandising and offering special incentives, you'll be able build new revenue channels as well as increase profits on sales of gift cards. With Giftocash, it makes it easier than ever for you to connect with customers who want to buy these types of products with bitcoin!
Selling gift cards online is a great way to make some extra bitcoin without having to actually go out and purchase the gift cards yourself. With Giftocash, you can easily turn your gift cards into bitcoin with the click of a button. Plus, with the built-in security features, you can rest assured that your information is completely safe.
So what are you waiting for? Get started with Giftocash today and start trading gift cards for bitcoin. It's a great way to make some extra money in your spare time and add to your bitcoin wallet.