Are you looking to buy bitcoins with a gift card? Then, this article will guide you step-by-step to trade your gift card for some bitcoins. More than 300 gift cards are accepted, this includes Amazon, iTunes, Google, and Walmart gift cards. Paxful is known to be the industry leader for exchanging your gift card for bitcoins. Located in Delaware, the United States with a mission to give working people a simple, fair and secure platform for trading the value of their work.
The complete, 7-step guide to buying bitcoins with a gift card
Step 1: Go to Paxful website and select your preferred buying option
You may select Amazon, OneVanilla or 300 other types of gift cards as your payment method. In this example, we will use the Amazon gift card.
Step 2: Select the amount you wish to buy
You may also change your currency depending on your personal preference.
Step 3: Click “Buy Bitcoin Now” Button
Paxful will start searching for all open Amazon gift card offers.
Step 4: Search for your preferred seller on the list generated
There are a few things you need to look for when buying bitcoins using your gift card. These include seller rating (shown in green). The higher the number, the better the rating. Also, another critical factor is the rate per bitcoin your paying. You don’t want to pay a high premium, therefore, the lower the rate, the better. Once you have made your mind, click on the “buy” button.
Step 5: Read sellers instructions
After you have clicked the “buy” button, you will be sent to the seller’s page. On this page, the seller specifies the minimum and maximum trade value, how much it costs for each dollar and the rate per bitcoin. You will also have access to the recent feedback and seller’s last seen. Make sure that you read the full details of the seller’s instructions.
Step 6: Create a free account
Once you have decided you want to continue with the transaction, create a free account on Paxful. This step shouldn’t take you more than 15 seconds! You will receive a confirmation email on your inbox. Make sure you confirm your account to proceed.
Step 7: Pay and communicate with the seller
After you have selected the amount, click on the “buy now” button (see step 5). One the transaction page, you will also be able to communicate with the seller if you have any further questions. Please note that all transactions have a time limit, so make sure that its completed with the time frame.
You are set to go!
By now, you have learned how to buy Bitcoins with a gift card in no time. Some sellers might only accept physical Amazon gift cards, so make sure you read the terms and instructions. Please note that Paxful acts as a secure escrow. The system protects you by holding the seller’s bitcoins in escrow. Your bitcoin will be sent to your wallet after completing the payment.
Side note, make sure you read our ultimate guide to Bitcoin – it will definitely help!