Buying Bitcoin with Gift Cards

Bitcoin gift cards is the key term for exchanging Bitcoins for Gift Cards and vice verse. This means that you can buy a desired gift card (f.e.: Coffe Shop, Amazon, etc. ) for cheaper and anonymously by using Bitcoin. On the other hand, you will be able to buy some Bitcoins by selling a Gift Card you already posses.

Bitcoin is becoming ever more popular, especially with the current increase in its value. The price of Bitcoin has hit the $1,000 USD mark within the past few days (January 5th) and this is obviously causing people to take notice, ushering in a new wave of first-time Bitcoin users.

For many new users, buying Bitcoins can be a chore all unto its own. With current regulations in the United States and the lack of feasible international buying options, more and more would be new users are forced to turn away from Bitcoin instead of finally embracing it.

There is a solution!

Bitcoin can be easily bought using gift cards. Gift cards for any retailer will work just fine for this purpose. All you have to do is go grab a gift card for places like Amazon, eBay, Panera Bread, etc…. Even Visa and MasterCard gift cards can be bought. It is simple, easy and gives anyone a payment option.

Follow these simple steps to buy Bitcoin with your favorite gift cards:


1. Get a Gift Card

Most Bitcoin sellers will want to see an image of the actual gift card code from the back of the card, along with the receipt that the store gives you upon purchasing it. Some sellers may accept online or e-codes, and we will cover that a bit later.

2. Find a Bitcoin Seller

Once you have the gift card, visit either Paxful.com or LocalBitcoins.com, sign up for an account, which is very simple and takes very little time.

3. Start a Trade

Search or browse for Bitcoin Sellers that accept gift cards and start a trade with them.

Once you open a trade, the seller’s Bitcoins that you wish to buy will be placed automatically into escrow by the site you are using so you will know it is safe to give the seller the gift card information.

I will give some tips below on staying safe and protecting your assets.

If you have an e-gift card code, then make sure to find a seller that accepts them as a form of payment and be sure to follow all of their instructions.

4. Conduct the Transaction

Once they have received the gift card code from you and verified that the funds are available, they will release the Bitcoins from escrow and you will have immediate access to them in your wallet on whichever site you conducted the trade.

5. Say thanks, Access Your Bitcoins

Congratulations, you have just purchased Bitcoin using a gift card!

Make sure to leave feedback for the seller and then you can go visit your wallet page to view your brand new balance of Bitcoin!

Simple, easy and effective. Best of all, you did not have to jump through hurdles, provide your debit or credit card information to strangers or wait for days until a bank transfer clears.

6. Remember to stay safe

While both Paxful and LocalBitcoins are well respected and trusted sites, it does not mean that every single seller is as respectable or trustworthy.

  1. Make sure that you take screen shots of your transaction at various steps.
  2. Keep a record of everything that you can submit to the website owners in case there is any funny business.

The last thing you want to do is give someone a perfectly good gift card and have them spend it and then not release your Bitcoins.

Some tips to stay safe:

Only deal with trusted sellers.

  1. Look at feedback ratings and whether or not their information has been verified or not by the website.
  2. Ask questions before you give out the gift card information and be absolutely comfortable with the trade before handing over the gift card codes.
  3. As the buyer of Bitcoin, you will have the ability to cancel the trade at any time, but remember, if you cancel after giving the seller the gift card code, there is nothing stopping them from using the funds, so make sure everything is on-par before giving out that number!

Buying Bitcoins using gift cards can be a fun and easy way for you to get your hands on Bitcoins and get into the game. With the price fluctuating as it does, it can be a great way to stock pile some Bitcoin and make a good chunk of change in profits the next time it is on the rise.

Harness the full power of your ability to purchase Bitcoins with gift cards by buying the gift cards cheaper than their value. There are endless places, both online and in your local area that sell gift cards for up to 60% of the face value of the gift card, so be sure to hunt and shop for the best deals and maximize your profits each and every time.


Gene

Writer

Gene is an avid Bitcoin enthusiast and computer programmer who is currently studying to be a software engineer. He is 40 years old and lives in Daytona Beach, Florida with his girlfriend and their son.

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