You can actually sell Amazon gift card for Bitcoin.
Left over prepaid cards and gift cards can be redeemed through online services to exchange the Amazon gift card to buy Bitcoin using a fiat-to-crypto exchange.
The process is quite straight-forward as exchanging your Bitcoin gift card money in return for Bitcoin using a cryptocurrency exchange.
If you have some Amazon gift card lying around in your closet, this will also be one of the smartest investment strategy to sell Amazon gift card for Bitcoin cryptocurrency.
Before you start trying to buy BTC with Amazon gift card, if you don’t have a wallet to store your new Bitcoin, we recommend that you read my article on the best crypto hardware wallets.
Without much ado, let me take you through how to convert your Amazon gift card to Bitcoin by purchasing an equivalent amount of BTC crypto-coins.
Let’s get started!
How to buy Bitcoin with Amazon gift card
For the sake of simplicity and clarity, am going to showing you how to buy Bitcoin with amazon gift card on LocalBitcoins.
To help you learn and understand how this marketplace platform works, I have written a review on LocalBitcoins exchange.
Follow these simple steps below:
- Register for an account with a supported LBC marketplace
- Complete the signup verification process
- Go to the ‘Buy Bitcoin’, and look for Amazon Gift Card
- Select the Amazon gift card as payment method
- Select any vendor you find trustworthy
- Enter the Amazon prepaid card amount to redeem (e.g. $50, $100 etc.)
- Find a suitable seller and click ‘Buy’.
That’s how simple it is!
You have successfully purchased Bitcoin with Amazon e-gift card as the payment method using LocalBitcoins.
Ways to buy BTC with Amazon gift card
There are only few reliable platforms that you can actually trust enough to buy Bitcoins with Amazon gift card code online without loss of money due to investment scams and theft.
LocalBitcoins (Best Recommended)
LocalBitcoins is a P2P (Person-to-Person) Bitcoin exchange platform that specializes in connecting buyers and sellers. It gives vendors an ability to create offers in all currencies, while serving as escrow.
- Available in every country of the world
- A diverse selection of buyers and sellers
- Supports many payment methods
- Buyers get their bitcoins fast
- Lack of cryptocurrency diversity
- Both sellers and buyers can be scammed.
LocalCryptos launched in 2015, was known as LocalEthereum. It was initially built a P2P platform for buying Ethereum (ETH) only.
The platform later rebranded – adding Bitcoin (BTC) and Litecoin (LTC), as well as some other established crypto-coins.
This is a non-custodial peer-to-peer exchange. This means you do not have to deposit your crypto directly on the platform to sell.
Also, you are not required to verify your identity to use LocalCryptos. Compared to Paxful, LocalCryptos has fewer payment methods, even though it continues to expand aggressively.
Sellers pay a 0.25% trading fee while buyers pay a 0.75% trading fee.
- 60+ payment methods
- Trade BTC, ETH, and LTC
- No KYC verification
- Lower exchange fee
- High security than other P2Ps
- Few supported cryptocurrencies
- Vendors can be scammed.
Paxful is a person-to-person marketplace that supports over 300 payment methods. It gives vendors the ability to create offers in all currencies – just like LocalBitcoins.
- Escrow system
- Diverse payment methods
- Simple user interface (UI)
- Wide variety of sellers
- Buyers and sellers are prone to scams
Below are my answers to some of the frequently asked questions online, while researching on how to buy Bitcoins with Amazon gift card balance.
What is Amazon?
Founded in 1994, Amazon is the inventor of the original affiliate program and is now the richest company in the world.
Besides being heavily invested in data & analytics (Alexa), Amazon prides itself on providing excellent customer service and its ability to deliver everything from A to Z for its customers.
Amazon’s core business model today includes Amazon Web Services, Kindle, Audible, Twitch, and Amazon Prime (Movies, Music, IMDB).
It offers Fulfilment By Amazon (FBA), Kindle Direct Publishing, Amazon Associates, and Merch for small businesses and entrepreneurs who want to partner with the company and its platform on autopilot.
Where can I find Amazon gift cards?
Amazon gift cards can be found at most major retailers. You can also use the Amazon Bitcoin payment store known as Purse.io to get the gift cards.
Can I buy Bitcoin with prepaid cards?
Is it safe to buy Bitcoins with Amazon gift cards?
Amazon gift cards are instant payment method with a unique electronic code that helps reduce fraudulent activity and theft. It is a safe method to buy Bitcoin as long as this code is not publicly disclosed or compromised.
Users can conduct their own due diligence when using P2P exchanges in particular, as the transaction parameters are agreed between the buyer and seller.
Where can I sell my Amazon gift card for Bitcoin?
Now that you know how to sell Amazon gift card in exchange for Bitcoin, the next step is signing up with services listed above to try them out for yourself.
There’s no excuse to have unused Amazon gift cards laying around. These providers also allow you to buy Amazon Gift Cards with Bitcoins.
Try not to leave your Bitcoin investments on an exchange where you bought it, because it’s not a safe method of storing crypto-coins.