The Bitcoin market is a very volatile one but the volatility is much more lucrative when the market is favourable.
People always prefer to keep their money in the form of Bitcoin rather than cash or Gift Cards because the volatile nature of Bitcoin makes it a good investment asset. One can buy Bitcoin when the price is low and sell when the price rises.
In India today, millions of people use Gift Cards, instead of cash to buy goods and services from retail stores.
Stores issue Gift Cards to their customers as a sign of customer loyalty, to cut extra charges from third parties and to increase brand awareness.
On many occasions, people simply get these Gift Cards as gifts from their loved ones. When they redeem the Gift Card in the store, they can purchase any product of their choice, provided the amount on the Gift Card covers the cost of the gift item.
However, not everyone likes the idea of gifts, many Bitcoin enthusiasts in India may prefer to have these Gift Cards as Bitcoin other than just Gift Cards for buying chocolates in the Walmart store.
Is there a way Indians can convert Gift Cards to Bitcoin? Indians can sell their Gift Cards for Bitcoin at any time and any day.
Largely conserved in this article is how to trade Gift Card for Bitcoin in India.
What Is Bitcoin?
Among other cryptocurrencies in existence today, Bitcoin is referred to as the “King of crypto”. Perhaps this title was inspired by the fact that Bitcoin has the largest market capitalization and highest price amongst all other crypto coins in the market.
Bitcoin was developed in 2009 by an anonymous person or a group of people called Satoshi Nakamoto.
Bitcoin is simply a decentralised digital currency that can be used be used to purchase goods and services. It is similar to the fiat currencies like Rupees, Dollars, etc but unlike fiat money which is controlled and regulated by the central authority, Bitcoin is not regulated by any central authority, hence it is referred to as a “decentralised currency”.
Bitcoin is built on blockchain technology where transactions are written and stored in a digital public ledger, a shared database that stores data. These data are encrypted, thus they are very secure.
Bitcoin is the most popular type of cryptocurrency in the world today.
What Is a Gift Card?
When you think of a Gift Card, think of that Visa debit card you were issued from the Kotak Mahindra Bank in Mumbai. However, there’s little difference between a Gift Card and the debit cards you have been using in bank ATMs and shopping malls.
A Gift Card is a preloaded debit card issued by retail stores and business brands to customers to enable them to purchase goods and services from them with ease, increase brand awareness, and cut down the extra fees from third parties like banks.
Brands issue Gift Cards of numerous denominations to customers, depending on their choice. It can range from $5 to $500.
While some Gift Cards are readable, some others can not be reloaded with more funds when the money value of the Gift Card is exhausted.
Some of the popular Gift Card brands in the world are; Amazon, American Express, Google Play, eBay, Sephora, Steam, etc.
Gift Cards are not limited to just purchasing goods and services from stores, you can exchange your Gift Card for cash or crypto like Bitcoin if you wish not to redeem them in a store.
WhereTo Exchange Gift Card For Bitcoin In India
One of the glories of financial technology is the integration of every race and colour into a large single community.
One can trade Gift Cards for Bitcoin from any part of the world today, and India is not an exception. The primary assignment is to discover an interesting platform that offers the best services to Gift Card traders.
Of course, traders can never trade Gift Card for Bitcoin on the streets of New Delhi but rather, a convenient platform, preferably an online one, that offers the services of buying Gift Cards in exchange for Bitcoin.
After thorough research and investigation, it is indisputable that the best platform to convert Gift Card to Bitcoin is the Prestmit online app.
Prestmit is a highly secure app that offers a seamless way to trade both Gift Cards and Bitcoins easily and satisfactorily. The integrity of the platform precedes it considering the number of users who have subscribed to the platform since its invention.
Prestmit accepts any brand of Gift Card from anywhere in the world and converts them for Bitcoin at very high rates.
It only takes a few seconds to exchange a Gift Card for Bitcoin on Prestmit.
READ ALSO: Top 5 Popular Indian Gift Cards
How To Trade Gift Card For Bitcoin In India
Using the Prestmit app as a medium of trading Gift Cards for Bitcoin in India requires very little effort from the user as the app is simplified and convenient to use.
The following steps will guide you on how to sell Gift Cards for Bitcoin in India.
- The first thing to do is, download the Prestmit app from the Google Play Store or Apple Store and sign up.
- Select “Sell Gift Card” and fill in the Gift Card information by scrolling down the page.
- Select Bitcoin as the payment method since you’re exchanging Gift Cards for Bitcoin. When you enter the amount, the Bitcoin value of the Gift Card will be immediately displayed.
- Select “Category” and choose the type of Gift Card you want to sell. Example; Amazon Gift Card
- Click on “Gift Card Type” to choose the type of Amazon Gift Card in your possession. Example; USA Amazon cash receipt(50-100). This means that the Amazon Gift Card is between the value of $50-$100.
- Select “AMOUNT” from the drop-down menu: Input the total amount of Gift Cards you’d like to convert to Bitcoin. Based on current rates, this is calculated using an automated rate calculator.
- Upload the image of the Gift Card if you have a physical card.
- Enter your Bitcoin wallet address in the comment section.
- Finally, click “APPLY” to complete the transaction after which the payment will be credited immediately into your Prestmit BTC wallet.
Indians and anyone living in India can easily swap Gift Cards for Bitcoin provided the person follows the instruction in this guide. Trading Gift Cards for Bitcoin has proven to be a good way of investing in the Bitcoin market. Traders who convert their Gift Cards into Bitcoin rather than spend them in the store are more likely to reap good returns whenever the hallowed Bitcoin peaks at a very high price.