Visa gift cards are one of those versatile gift cards that anyone would love to have. So what do you do if you need one urgently and do not have the cash to purchase it? Use your crypto! You can buy Visa gift cards with Bitcoin; we will show you how to do that in this article.
It’s paramount that you learn to carry out these transactions carefully and safely. Luckily, Prestmit encompasses all of these features. So let’s dive right in.
Understanding Visa Gift Cards and Bitcoin
Visa is a digital payment company that issues credit/debit cards and gift cards. It issues open-loop gift cards that can be used to pay for items across various marketplaces and websites like eBay, Amazon, Netflix, Walmart, Target, etc. Anyone who has a Visa gift card can use it online and in physical stores where Visa cards are accepted.
Bitcoin is a digital currency one can use to make purchases online. It’s a decentralised asset, so holders fully control when and how much they spend. You can use Bitcoin to pay for gift cards on digital trading platforms. One significant advantage of doing so is the convenience it affords you.
Creating a Bitcoin Wallet
To use Bitcoin for transactions, you’ll need a Bitcoin wallet, and there are different wallet options for you to choose from. You can use a hot or cold wallet. All cold wallets are decentralised, but not all decentralised wallets are cold wallets. These are the wallet options available for you.
- Custodial wallets on centralised exchanges. Coinbase is one of the exchanges that offer this option. Another is Binance.
- Decentralised wallet on a centralised exchange. Coinbase and Binance also allow users to connect their decentralised wallets to the exchange for p2p trading.
- Decentralised wallet on decentralised exchanges.
Note: Hot or software wallets are better suited for short-term use like trading or payment purposes. Hardware or cold wallets are best suited for storage or long-term use like investment: E.g., HODL investment types.
Step-by-step Guide to Creating Bitcoin Wallet
- Choose a trusted wallet provider. Do proper research to know if the wallet provider is reliable.
- Download the mobile app or get the desktop version. Some wallets also have browser extensions.
- Create your account with an email address, name and a foolproof password. You may have to complete a verification process. The provider will generate a wallet address for you at the point of creation.
Here are a few wallet options to consider.
Coinbase is a self-custodial wallet which means you control your keys. You can also easily access the Coinbase exchange to trade or make transactions.
This is a simple beginner-friendly wallet. Exodus supports over 260 different cryptocurrencies, including Bitcoin, and you can download the mobile version of the wallet on your phone or computer.
This wallet only supports Bitcoin, but it is also an excellent simple-to-use option. Electrum has a mobile app and a desktop extension.
Trust Wallet is a reliable wallet option that supports about 160,000 different cryptocurrencies, including Bitcoin. You can download the mobile app or add the browser extension to your browser.
You can check out this list of the best-decentralised crypto wallets and find the ones that support them.
How to Acquire Bitcoin
There are various means through which one can acquire Bitcoin. Some of them are
1. Buying from exchanges or crypto on-ramp platforms.
On-ramps are the entry point for beginners into the crypto space. These platforms allow users to buy crypto with fiat currency. One can also exchange other crypto for Bitcoin on exchanges.
2. Selling other digital assets for Bitcoin.
Digital assets like gift cards and NFTs can be sold for Bitcoin. Crypto holders can also trade their holdings for Bitcoin.
3. Service for payment in Bitcoin.
Certain platforms pay people in Bitcoin to offer various services. They’re uncommon but provide ways for interested participants to earn in Bitcoin.
People also acquire Bitcoin through mining. Although it requires many resources, it’s a great way to get some Bitcoin.
How to Transfer Bitcoin to Your Wallet
If you’re buying Bitcoin from an exchange, you can transfer to your wallet by navigating to the withdrawal section of your account. Here are the steps.
- Login to your account on your exchange.
- Navigate to the withdrawal section.
- Enter your Bitcoin address and your password.
- Wait for a bit, depending on the exchange, and check your Bitcoin wallet to confirm receipt.
The amount in your wallet may be less than the amount you sent because the exchange may have deducted transaction fees.
While entering your address, make sure you crosscheck to avoid mistakes.
Creating and Verifying Your Prestmit Account
- Download the Prestmit app and sign up for an account on your mobile phone.
- Follow the prompts to complete your registration.
- Complete your KYC and provide any other necessary information to verify your account.
Selecting and Buying a Visa Gift Card with Bitcoin on Prestmit
Step 1: On your app, choose Buy/Sell Gift Cards. Select Buy gift cards.
Step 2: Choose Visa gift card and enter your desired value and quantity.
Step 3: Select Bitcoin as your payment method and enter the necessary details.
Step 4: Confirm the transaction and wait to receive the next prompt.
Note: You will be required to send the precise amount of Bitcoin for the value of the Visa gift card. Prestmit will provide you with a Bitcoin address to which you’ll send the payment before you receive the gift card.
After your payment has been confirmed, you will receive the gift card details in your email.
Tips and Considerations for Buying Visa Gift Card with Bitcoin on Prestmit
Before you buy a Visa gift card with Bitcoin on Prestmit, check that the gift card is available in the denomination and quantity you want. Also, check the rates to see if they align with your budget.
Keep in mind that there are no refunds. Prestmit is not responsible for any mistakes that may occur if you enter the wrong email address.
Keep your gift card details safe. Do not share your card number or the security code with anyone or on any platform except if it’s a verified merchant platform from which you want to purchase items or pay for a service.
Safety Measures and Precautions
- Protect your account with strong passwords.
- Protect your devices with passwords and biometric security where applicable.
- If possible, restrict your Bitcoin wallet transactions to one device.
- Do not copy and paste your wallet address from your transaction history to avoid address-poisoning attacks.
FAQs About Buying Visa Gift Cards with Bitcoin on Prestmit
Where can I buy a Visa gift card with Bitcoin?
A: Prestmit is one of the best digital trading platforms where you can purchase a Visa gift card using Bitcoin. The user interface makes it a seamless process.
How much is a Visa Gift Card in Bitcoin?
A: The amount of Bitcoin you’ll pay for a Visa gift voucher on Prestmit depends on the exchange rate and the price of Bitcoin in the market. The value of Bitcoin and the dollar rate affect the prices of digital assets, including gift cards, but you can check the rate using the Prestmit Rate Checker.
There are different ways to buy a Visa gift card, and one of them is with Bitcoin. You can do this seamlessly on Prestmit with the instructions laid out in this article.
Instead of using cash or your other gift cards to get a Visa gift card, try paying with Bitcoin. It’s convenient and safe.
Remember to stay security-conscious and follow safety best practices to keep your account and wallets safe.