Many Nigerians need cash; and even with the introduction and acceptance of electronic banking in the country, more than 70% of the Nigerian population still engage in cash for their economic activities.
With the emergence of gift cards in Nigeria, many have used virtual currency as a means to gift family, friends, colleagues and business partners, services and goods. Many have also used gift cards as a means of payment for goods and services.
In this article, we shall take pains to show you how to sell gift cards in Nigeria for instant cash. This is especially important because many Nigerians with gift cards would rather have their gift cards sold off to buyers so that they can convert their value into Naira in cash.
What Are Gift Cards?
Gift cards are essentially prepaid cards loaded with a specific amount of money that can be used to make purchases at participating retailers or businesses. They function like debit cards, where the stored value gets deducted with each purchase until the balance reaches zero. Amazon gift cards, Visa gift cards, Steam gift cards, Gamestop gift cards, Apple gift cards, AMEX gift cards etc, are all top brands with designated gift cards.
What Are The Types Of Gift Cards?
Gift cards are majorly grouped into three types which include:
- Closed-loop cards: These cards can only be used at the store or chain that issued them. For example, a gift card from Starbucks can only be used at Starbucks locations.
- Open-loop cards: These cards are more versatile and can be used at any store that accepts their payment network, such as Visa, Mastercard, or American Express.
- Digital gift cards: These cards are delivered electronically and can be stored on a smartphone or used online. They offer a convenient and eco-friendly alternative to physical cards.
How To Sell Gift Cards Fast In Nigeria For Instant Cash?
You can sell gift cards fast in Nigeria for instant cash either through direct or indirect methods. Here is a quick rundown of each of them:
Direct Method
Issuer conversion is a part of this option, but as cool as it sounds, it's not always possible to convert to cash directly through it. Nonetheless, a few stores, such as Amazon, allow a certain quantity to be exchanged for other denomination gift cards.
Another option is to use accredited exchanges, which provide specific gift card swap services. Although handy, their prices are often less than those of other possibilities.
Indirect Methods
This method entails selling your gift cards on secure gift card exchange websites. FlipEx is one of these one-stop shops for getting your gift cards traded. FlipEx guarantees safe gift card exchange transactions and escrow services to retain money until it's verified.
How To Sell Gift Cards Fast For Instant Cash On FlipEx
First, simply download the FlipEx app from the Google Play Store or Apple App Store for convenience. When you are ready to trade your gift card for Naira, here are the simple steps to sell it on FlipEx:
1. Create a free Flipexapp account and enter your basic details when prompted.
2. Choose "Sell Gift card" and input your gift card details and value.
3. Carefully review the quoted Naira rate and accept.
4. Once the trade is approved, your FlipEx digital wallet will be funded instantly, and you can decide to deposit your funds to your bank account immediately.
Without delays, your gift card is exchanged for Naira. The process is quick and secure.
Points To Note While Selling Gift Cards For Fast Cash In Nigeria
The following points will help you stay safe and ensures that you do the right thing while selling your gift cards for instant cash:
- You must be vigilant in selling your gift cards online to prevent incidents of fraud.
- It is also advisable to stay away from platforms that have ambiguous conditions or exorbitant prices.
- Never divulge more personal information than is necessary to complete the transaction.
- Although there may be limitations on some platforms or methods, converting gift cards is typically lawful. Make sure you thoroughly read the terms and conditions. Risks include fraud, unjust exchange rates, and account limitations, so you should exercise caution. Investigate and select reliable platforms.
- Examining the many costs, charges, and security factors. You can use FlipEx’s rate calculator to view the current gift card rates.
- Before you go in, be mindful of listing, processing, and platform cutbacks.
- Make security your priority! Select a gift card exchange website that offers safe transactions, clear conditions, and satisfied customers. Avoid sites and exaggerated prices that put pressure on you.
Choose the FlipEx giftcard exchange platform today as we are the fastest gift card redemption site in Nigeria, with the best support team. Get with us today!