Gift Cards

Top 10 gift cards to sell in Nigeria right now – February 2022

gift card to sellWhen people hear the words “gift card” they see different possibilities. The gift giver sees the opportunity to make a loved one happy. The receivers see the possibility of getting what they want, while the money conscious guy sees an opportunity to sell gift cards.

Gift cards were first introduced commercially in 1994 when Neiman Marcus sold them. But it wasn’t a commercial success because the luxury department store failed to advertise them. However, Blockbuster Entertainment saw the future in gift cards so they made Blockbuster gift cards and advertised them in their stores. Fast Forward to 2020, the gift card industry was worth $295.2 billion and it is projected that e-gift cards usage will go up by 23% in 2025. It looks clear that the gift card market is on steady growth and everybody can have a slice of the cake.

Gift card transactions in Nigeria are also on the rise as a few companies have now adopted the global trend. But the truth is, these companies aren’t as much as those abroad. 

Loved ones in countries like the USA, oftentimes send gift cards as gifts to their friends or family members living in Nigeria. These gift cards, most times, aren’t usable in the country, this is why gift card exchange platforms like Prestmit.com/App had to solve the lingering problem. Foreign gift card holders can now trade them for cash on these platforms at high rates. In this article, I aim to help readers identify the gift cards with the highest resale value in Nigeria.  

What Are Gift Cards?

Sometimes called Gift Vouchers, certificates or tokens in some parts of the world. Gift cards are prepaid cards with monetary value that are used for payments by merchants that issue or accept the brand.

Prestmit Advert

What Are They Used For?

They are used for the following reasons:

  • Gift Cards are used as Gifts

Gift cards are perfect gifts for loved ones. Some employers use them as rewards for employees and gifts for customers. They take the stress of wondering what to buy off the giver and allow the receiver to buy exactly what they want.

  • They are a Means Payment

Gift cards usually have a certain amount of money loaded on them and you can make payments with them till you exhaust the money. E.g Amazon $100 gift card can be used to shop on Amazon.com till you buy things worth up to $100.

  • They are Used to Store money

Thanks to this innovative idea people can buy gift cards to store money. For example, Mr A has $100 and he doesn’t want to spend it recklessly, he can buy a $100 Vanilla gift card with. This way his $100 will be stored till he wants to use it.

  • They Can Also Be Traded For Cash Or Cryptocurrency 

Gift cards have become a good source of money these days. People in Nigeria now trade their cards for cash or crypto when they have no use for them.

Types Of Gift Cards

There are different types of gift cards and I am not talking about the brands. I am talking about the nature of these gift cards. They differ in the form they exist in and the accessibility the card gives you.

Here are the different types of gift cards:

  1. Physical Gift Cards

As the name implies, physical gift cards are those gift cards that exist in physical form. They are purchased from stores or shipped to the receiver’s address. On the cards, you will see the gift card number, pin, phone number and website of the issuer.

  1. Digital Gift Cards

These kinds of gift cards are also known as e-Gift cards. They only exist in digital format. The buyer buys them online and they are delivered to the receiver’s email.

  1. Open-loop gift cards

Open-loop gift cards are redeemable in stores that accept the brand’s debit/credit cards. E.g Visa and AMEX gift cards.

  1. Closed-loop gift cards

Closed-loop gift cards are only redeemable in the gift card’s issuer’s store. E.g Nike gift and Google Playstore gift cards.

How To Sell Gift Cards In Nigeria

You can sell your unused gift cards to an individual buyer but the problem is how do you find a willing buyer? Finding a gift card buyer in Nigeria is like looking for a pin in a haystack; this is why gift card exchange platforms/apps exist. You can sell your gift cards on gift card exchange platforms.

The problem with trading online is that you are at risk of being scammed on a fraudulent site. Due to the uncertainties online I have created a list of qualities you should see on a platform before trading. 

Characteristics of a Good Gift Card Trading Platform.

A good trading gift card platform should have the following qualities:

  • Buy at High Rates

You need to be sure you can sell at high gift card rates. If now, do not trade on such a platform as you won’t get the best value.

  • It Should Have a Rate Calculator

A gift card rate calculator enables you to calculate the amount a platform buys each brand of the gift card at. It’s with the rate calculator that you can see if you are selling at low rates.

  • Make Sure It’s User Friendly

When you log on to a trading website you are only going to be dealing with A.I. so it is only right for the user interface to be easy enough to use by anyone.

  • Instant Payment 

To clarify if the buyer pays instantly check the reviews on App stores/Google Playstore.

  • They Must Have a Customer Support System

Customer support agents help ease any stress you will face on the websites or app versions of these exchangers. So if an exchange platform does not have one then you should look elsewhere.

  • Make Sure They Have an App Version

This is for you to be able to read the reviews of other users. This will give you a first-hand analysis of the brand’s services.

The Most Secure Gift Card Trading Apps Online

Here is a list of gift Card Trading apps that meet all the criteria above:

  1. Prestmit App
  2. Paxful
  3. Cardtonic 
  4. GiftCardsToNaira 
  5. Nosh
  6. Glover
  7. Apexpay
  8. Rocket by Chiji14exchange
  9. GCBuying Tech
  10. CardVest 

Now that you know the safe apps to trade on, the next thing is to identify what gift cards sell at high rates.

Top 10 Gift Cards With the Highest Rates In Nigeria

Here are the gift cards with the highest rates in Nigeria in no particular order:

  1. Amazon gift card
  2. iTunes gift card
  3. Google Playstore gift card
  4. Visa gift card
  5. Mastercard gift card
  6. American Express gift card
  7. eBay gift card
  8. Sephora gift card
  9. Best Buy gift card
  10. Steam gift card

There you have it, the highest-rated gift cards in Nigeria as of February 2022. Go ahead and log on to one of the safe platforms and start trading.

 

Related Articles