Do you have a $10 Steam gift card just gathering dust? It is high time to put the card to good use as you can convert it to Naira and make some cool cash.
Gift cards are one of the best ways to make money online because of the real-time value they hold relative to the currency of the gift card. Therefore, converting your gift card to cash is one viable way to enjoy your gift card. How do you convert your gift card to cash? You sell gift cards for cash on a reputable platform that trades in gift cards.
Your gift cards are a cash alternative; as such, you can be assured of buying your preferred products when you redeem your gift card at its supported stores. In this instance, Steam gift cards are one of the most used gift cards amongst Nigerians because of their potential for a wide range of use.
Steam gift card is a prepaid card issued by Steam, an online gaming giant with tens of millions of users buying gaming content and software for developers and from the online store. If you are enthused about gaming, the Steam store is the place to access various gaming content, and you can use Steam gift cards to buy your preferred gaming content on the online store.
Meanwhile, you can decide to sell Steam gift cards if you are not vivacious about gaming and you need to make some money. This stance on converting Steam gift cards to cash is common in Nigeria. That is why we have different gift card trading platforms in Nigeria, with Prestmit being one of the best gift card trading platforms in Nigeria – where you can buy and sell gift cards like Steam gift cards.
In the foregoing, this article aims to take you through the easy steps to convert your Steam gift cards to Naira even if you feel lazy in to comfort of your home.
How To Convert A Steam Gift Card To Naira
You can convert your Steam gift card to Naira in different ways. This largely depends on your preference for factors that make your trade simple, fast, and safe. Gone are the days when you have to walk to a physical store to trade your gift card, but today, you can conveniently sell your Steam gift cards at any time and from anywhere through different channels.
Where To Convert Steam Gift Cards To Naira
1. Online Platforms
You can sell your Steam gift cards on several online platforms. These platforms could be an online marketplace that trades in gift cards or over-the-counter (OTC) gift card trading platforms that enables you to easily sell your Steam gift card without necessarily meeting the buyer.
Prestmit is an example of an online platform on which you can sell Steam gift cards. This platform is the best amongst its equals because it gives the best gift card rates that are second to none in the Nigerian gift card market and, by extension, the African market.
Pros of Online Platforms
- Low transaction fees
- Enabled security infrastructure as we have a two-factor authentication (2FA) security system on Prestmit
- A simple user interface for beginners in gift card trading
Cons of Online Platforms
- Increase in the number of fraudulent platforms
- Slow processing time
2. Social Media Groups
The steady growth in the global gift card market is allowing for the emergence of mediums for selling gift cards, like Steam gift cards. Therefore, you can sell Steam gift cards on social media groups that engage in gift card trading.
You can find gift card trading groups on social media platforms like Telegram, Twitter, WhatsApp, Instagram, and Facebook, on which you post your Steam gift cards to get an interested buyer from the group.
Pros of Social Media Groups
- Open to a large number of potential buyers
- Easy to sell without account opening
- Suitable for beginners
- Available anytime and anywhere
- No transaction fee
Cons of Social Media Group
- Possible loss of funds to a fraudulent buyer
- Delayed payment
3. Peer-to-Peer (P2P) Exchanges
These are online marketplaces for digital assets like gift cards. You can access a wide spectrum of gift cards on P2P platforms while you trade directly with another platform user. Examples of P2P platforms in gift trading in Nigeria are Binance and Paxful.
The major difference between selling on online platforms and P2P platforms is that you interact with the buyer of your Steam gift card on P2P platforms while you negotiate the best rates for the gift card. Conversely, online platforms act as the intermediary between the seller and the buyer of the Steam gift card.
Pros of P2P Platforms
- Safe to use
- Different payment options
- 24/7 availability
Cons of P2P Platforms
- High transaction fees
- Complex to use for beginners
Step-By-Step Guide On How To Convert Steam Gift Card To Naira On Prestmit
You can easily convert your Steam gift card to cash in Naira on Prestmit through the following steps:
- Create a Prestmit account and log in
- Click on “Begin Trade”
- Click on “Sell gift cards”
- Click on “Category,” and you navigate to choose the Steam gift card
- Click on “Type of gift card” to indicate if you want to see a physical or digital Steam gift card
- Enter the “Amount” of the Steam gift card you want to sell
- Click on “Payout method” to choose your preferred method of payment, which is Naira in this case
- Upload the pictures of your gift card if you are selling a physical Steam gift card
- Enter the code of your Steam gift card in the comment section if you are selling a digital Steam card
Tips And Tricks For Converting Steam Gift Cards To Naira
There are different ways you can convert your Steam gift cards to Naira without a glitch if you take a holistic approach to be conscious of how you trade your Steam gift cards.
How To Avoid Scams And Protect Yourself When Selling Gift Cards Online
1. Research About The Platform
It is better to be proactive than reactive; as such, it is important to do your due diligence by conducting detailed research on the platform to sell your gift card to ensure the platform is legit and reliable. You can do this by seeking a third-party opinion, such as your friends or colleagues. You can also try to get reviews from customers who have used the platform.
This would enable you to infer the move to convert your gift card to the platform or opt for another.
2.. Accessible Customer Support
Your preferred platform must have customer support contact channels that are available and responsive. Some online platforms have dormant contacts – just for design’s sake. Hence this must be a point of call for you to avoid such platforms as they can be fraudulent in their gift card trading.
How To Get The Best Exchange Rates And Maximize Profits From Selling Gift Cards
1. Market Price Comparison
The gift card market is booming and competitive, with people trying to buy and sell at the best prices. You must be aware of this fact and ensure that you do a market analysis of the gift card to understand the average price of gift cards. This is imperative to prevent you from selling your gift card at a loss.
For instance, if platform A is selling a $10 Steam gift card for N7,400, platform B is selling the same gift card for N7,600, and platform C sells this Steam card for N7,750, then this should give you a price overview of how much you should sell your $10 Steam gift card which must not be less and greater than N7,000.
2. Sell On Online Platforms
The place to sell your gift cards for maximum profit is online platforms. This is because the transaction fees here are relatively low, and you will get to sell at the real-time exchange rate and not a parallel market rate.
For instance, you can get the best gift card rates when you sell Steam gift cards on Prestmit, a leading gift card trading platform in Nigeria and Ghana. Upon conversion, these rates are almost at par with the denomination of your gift card.
Above all, Steam gift cards are great for making money when you are about to cash trap. Like many of you buy expensive jewellery to hold down cash for future purposes, you can also have Steam gift cards to sell when the time to need money comes.
Interestingly, Steam gift cards do not expire, making them a reliable digital asset that you can hold to save up for your tuition fees or keep to pay medical bills later.
You can never go wrong when you have a Steam gift card, especially when you decide to sell your Steam card for cash. This is because you will always get the real value for your Steam card when you sell it to a credible platform.
This is why selling your gift card on a tested and trusted platform like Prestmit, which has processed many gift card transactions over the years, is important. We can not overemphasise the potential of Steam gift cards when you decide to sell them. Steam gift cards are a great gift card!
We would love you to share your experience with converting Steam gift cards to Naira in the comment section, as we look forward to having you sell your gift cards on Prestmit.