The Best Apps to Convert Gift Cards to Bitcoin

Ever wish you could turn those unused gift cards into something more valuable, like Bitcoin? Well, you’re in luck. There are now several apps that allow you to easily convert gift cards into the world’s most popular cryptocurrency. Here are the 10 best apps to convert gift cards to Bitcoin.

1. Paxful

Paxful is a popular peer-to-peer marketplace that allows users to buy and sell Bitcoin using a variety of payment methods, including gift cards. The platform supports over 300 different gift cards, including major brands like Amazon, iTunes, Steam, and Google Play.

To trade on Paxful, you create an account and search for offers from sellers willing to accept the type of gift card you have. Once you find a suitable offer, you can initiate a trade. Paxful acts as an escrow service, holding the bitcoin until both parties confirm that the transaction is complete. Paxful has a user-friendly interface and provides a wallet for storing your bitcoin. They also have a reputation system and dispute resolution process to help ensure safe trading.

2. CardCash

CardCash is another reputable platform that allows you to exchange gift cards for Bitcoin. They support a wide range of popular brands, including Walmart, Target, Best Buy, and more.

To use CardCash, you enter your gift card details on their website and receive an offer. If you accept, they will verify the balance and send you the agreed-upon amount in Bitcoin. The process is simple and straightforward. One advantage of CardCash is that they offer competitive rates for gift cards. They also have an A+ rating with the Better Business Bureau, indicating a strong track record of customer satisfaction.

3. Purse

Purse is a unique platform that lets you indirectly convert gift cards to Bitcoin by making purchases on Amazon. Here’s how it works:

• You find an item you want on Amazon and paste the URL into Purse.
• Purse matches you with a buyer who wants to purchase Bitcoin using a credit card or gift card.
• The buyer orders the item for you on Amazon using their funds.
• Once you confirm receipt of the item, the buyer releases the agreed-upon amount of bitcoin to your Purse wallet.

Essentially, you’re using your gift card balance to buy items for others, and in return, you receive Bitcoin. Purse typically offers better exchange rates than directly selling gift cards, as buyers are incentivized to pay a premium to acquire Bitcoin without having to go through traditional exchanges.

4. BitPay

BitPay is primarily known as a payment processor that allows merchants to accept Bitcoin, but they also offer a gift card exchange service. To use BitPay, you must purchase a gift card from one of their partner brands using Bitcoin. You can then redeem that gift card or resell it on a gift card marketplace for cash. While this isn’t a direct gift card to Bitcoin conversion, it does provide a way to indirectly liquidate your gift card balance into spendable money that you could then use to buy Bitcoin.

BitPay partners with a variety of popular brands, including Amazon, Delta, Uber, and Adidas. They also offer their own BitPay card, which functions like a debit card that you can load with Bitcoin and spend anywhere Visa is accepted.

Related: How to Redeem a Bitcoin gift card on Binance

5. CardFlip

CardFlip is a mobile app available for both iOS and Android that allows you to convert gift cards to Bitcoin. The process is straightforward: you enter your gift card details, receive an offer, and if you accept, the app will pay you in Bitcoin. CardFlip accepts gift cards from over 200 retailers, including Starbucks, Home Depot, Nike, and many more. They pride themselves on offering competitive rates and fast payouts.

One unique feature of CardFlip is their referral program. When you refer a friend and they complete a trade, you both receive a Bitcoin bonus. This can be a nice way to earn some extra crypto.

6. LocalBitcoins

LocalBitcoins is a peer-to-peer Bitcoin marketplace that allows users to buy and sell Bitcoin using various payment methods, including gift cards. The platform has a global user base, making it possible to find buyers for a wide variety of gift card brands. To sell a gift card on LocalBitcoins, you create an advertisement specifying the type of card, the amount, and your desired exchange rate. Interested buyers can then contact you to initiate a trade. LocalBitcoins acts as an escrow service, holding the bitcoin until both parties confirm the transaction.

One advantage of LocalBitcoins is its flexibility. You can set your own terms and negotiate directly with buyers. However, this also means you need to be cautious and vet potential trade partners carefully.

7. Gameflip

Gameflip is a marketplace originally designed for buying and selling video game items and gift cards. However, they’ve since expanded to support the sale of gift cards for Bitcoin.

To use Gameflip, you create a listing for your gift card, specifying the brand, balance, and asking price. Buyers can purchase your card using Bitcoin, which is then deposited into your Gameflip wallet. From there, you can withdraw the bitcoin to an external wallet.

Gameflip has a user-friendly interface and a reputation system to help ensure safe trading. They also offer a mobile app for both iOS and Android, making it easy to manage your listings on the go.

8. r/GiftCardExchange

GiftCardExchange is a subreddit dedicated to the buying, selling, and trading of gift cards. While it’s not a conventional app, it’s a popular platform in the gift card trading community. To trade on r/GiftCardExchange, you create a post outlining the type of gift card you have and your desired trade, whether that’s Bitcoin, another gift card, or cash. Interested users will then comment on your post to initiate a trade.

Trading on Reddit requires a high degree of caution, as there’s no built-in escrow system. However, the subreddit does have a verification system for frequent traders and a set of rules designed to prevent scams. If you’re diligent and follow the guidelines, trading on r/GiftCardExchange can be a viable option.

9. Gyft

Gyft is a digital gift card platform that allows you to buy, send, and manage gift cards. While they don’t directly support converting gift cards to Bitcoin, they do provide a way to indirectly achieve this. Gyft allows you to buy gift cards for various retailers using Bitcoin. So, if you have a gift card you don’t want, you could sell it for cash on a gift card marketplace, then use that cash to buy Bitcoin and purchase a different gift card on Gyft.

While it’s a slightly roundabout process, it does provide a way to essentially swap an unwanted gift card for one that you’ll actually use, with Bitcoin acting as the intermediary.

10. Craigslist

Craigslist is a classified advertising website where you can buy and sell a wide variety of items, including gift cards.

To sell a gift card on Craigslist, you create a listing in the “For Sale” section, specifying the type of card, the balance, and your asking price. You can request payment in Bitcoin, though you’ll need to clearly communicate this in your listing. Trading on Craigslist requires caution, as transactions are conducted in person and there’s no built-in protection. Always meet in a safe, public place, and consider bringing a friend along. If a buyer offers to pay with Bitcoin, ensure that the transaction is fully confirmed on the blockchain before handing over the gift card.

While Craigslist may not be the most conventional or safest option, it does provide a way to locally convert gift cards to Bitcoin for those who are cautious and savvy.

Key Takeaways

1. Gift cards can be converted to Bitcoin, providing a way to use unwanted cards and gain exposure to cryptocurrency.

2. There are numerous apps and platforms that facilitate gift card to Bitcoin trades, each with their own features and processes.

3. Top options include Paxful, CardCash, Purse, BitPay, CardFlip, LocalBitcoins, Gameflip, r/GiftCardExchange, Gyft, and Craigslist.

4. When trading gift cards for Bitcoin, it’s crucial to use reputable platforms, vet trade partners, and follow safety guidelines to minimize risk.

5. Factors to consider when choosing a platform include supported gift card brands, exchange rates, fees, payout speed, and security measures.

6. Even with fees, converting gift cards to Bitcoin can offer good value, especially if you’re earning a premium over the card’s face value.

7. Trading gift cards for Bitcoin is not without risk, so due diligence and caution are essential. Only trade with trusted parties, and never share card details prematurely.

8. By following best practices and using reputable platforms, converting gift cards to Bitcoin can be a smart and rewarding way to unlock the value of unused cards.

Frequently Asked Questions

1: What types of gift cards can be converted to Bitcoin?

Most gift card-to-Bitcoin platforms support a wide range of popular brands, including Amazon, Walmart, iTunes, Google Play, Steam, and more. However, the exact selection varies by platform. Some, like Paxful, support over 300 different gift cards, while others may have a more limited selection. It’s always best to check a platform’s supported brands before attempting to trade.

2. Are there any limits on the amount of gift card balance I can convert to Bitcoin?

Limits vary by platform and can depend on factors such as your account level, trading history, and the specific gift card brand. Some platforms may have minimum or maximum trade amounts. For example, Paxful has a minimum trade amount of around $10 worth of Bitcoin. Other platforms may have higher or lower limits. It’s a good idea to check the specific terms of your chosen platform.

3. Can I convert partially used gift cards to Bitcoin?

Yes, most platforms allow you to convert partially used gift cards. However, the exchange rate may be lower for partially used cards compared to cards with the full balance intact. This is because buyers taking on partially used cards are assuming more risk, as there’s a higher chance the card balance could have been used between the time of the trade agreement and the actual transfer.

4. Do I need to have a cryptocurrency wallet before converting gift cards to Bitcoin?

It depends on the platform. Some, like Paxful and CardFlip, provide a built-in Bitcoin wallet where your converted funds will be deposited. From there, you can then transfer the bitcoin to an external wallet if you wish. Other platforms may require you to provide an external Bitcoin wallet address to receive your funds. It’s a good idea to have your own secure Bitcoin wallet set up regardless, as it’s generally safer to store your cryptocurrency in a wallet that you control.

5. How can I ensure I’m getting a good deal when converting gift cards to Bitcoin?

To ensure you’re getting a good deal, compare offers across multiple platforms. Keep in mind that exchange rates can fluctuate rapidly in the cryptocurrency market, so an offer that looks good one day might not be as attractive the next. Also, factor in any fees the platform charges, as these can eat into your overall return. Remember, if a deal seems too good to be true, it likely is. Stick with reputable platforms and traders to avoid scams.

6. What should I do if I suspect a gift card to a Bitcoin trade is a scam?

If you suspect a scam, do not proceed with the trade. If you’re using a platform with an escrow system, like Paxful, you can dispute the trade. Provide any relevant evidence, such as chat logs or screenshots, to support your case. If you’re trading peer-to-peer without an escrow and you haven’t yet handed over your gift card details, simply walk away from the trade. If you’ve already provided your card details, contact the gift card issuer immediately to report the potential fraud and see if they can cancel the card. In all cases, report suspicious activity to the trading platform so they can investigate and take appropriate action.