Thursday, April 9, 2020

How to buy bitcoin with gift card? Explained

The Takeaway:

Bitcoin has come a long way since its creation in 2009. The leading cryptocurrency was named as the most valuable investment of the last decade. In this article, we explain how to buy bitcoin using gift cards.

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Since the inception of bitcoin, it has evolved immensely and continues to do so. Bitcoin was conceived back in 2009 by an unknown person or a group of people knowns as Satoshi Nakamoto. One of the main questions that people ask when they hear about bitcoin is that how and where they can buy it. 

 

Gift Card as a payment method 

Over the last few years, gift cards have emerged as a popular payment method all around the world. These gift cards can be redeemed for various services, including the purchase of the leading cryptocurrency, bitcoin. You can trade gift cards that are sold by major companies such as Amazon and iTunes on peer to peer exchanges for bitcoins and other cryptocurrencies. You can then trade your cryptocurrency on the bitcoin hero platform

Note: There are over tons of companies that offer retail gift cards. 

 

Where to buy bitcoin with gift cards? 

There are several platforms where you can trade your gift cards for bitcoin. The most popular platforms include LocalBitcoins and Paxful. Paxful is not available in all countries, so you need to check local regulations about gift cards and bitcoins before making any decision. Peer to peer platform is ideal to trade your gift cards for bitcoins as these platforms provide anonymity to your transactions.

Note: Peer-to-peer platforms act as a market place for buyers and sellers. 

 

How to buy bitcoin with gift cards?

The first step you need to take in order to buy bitcoin using a gift card is to sign up on LocalBitcoins or Paxful. Creating an account on any of these platforms is quite easy and does not require an elaborate KYC process for small trades. After signing up on any of these platforms, you can scroll through different offers made by sellers in your place. The next part is selecting the best offer from a verified user on the platform. 

It is important to note that, being a decentralized and peer-to-peer platform, you need to filter out scammers. Always trade with a varified user who has a trustworthy history on the platform. 

 

Conclusion

Bitcoin was named as the most valuable investment of the last decade. Getting started with bitcoin trading can be a bit intimidating, and that is why buying bitcoins using gift cards can help you understand the basics of crypto trading. Gift cards have emerged as a popular payment method over the years as they can be personalized to users’ needs. 

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Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

Jesse Kirby
Jesse Kirby
Since his childhood days, Jesse was fond of writing and learning new things. He developed a special interest in bitcoin back in 2011 and started to get deep into the crypto space. After completing his masters degree from Bnos Menachem School, New York, Jesse became a full time writer and crypto analyst.

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