Gift cards are becoming more popular in the crypto trading world and if you’ve ever wondered if you can buy Bitcoin with gift cards, the answer is yes.
Unlike the traditional method of using gift cards to make direct purchases, using gift cards to buy Bitcoin is a bit less straightforward. Since you can’t purchase Bitcoin directly using your gift card, you’ll need to work with a crypto exchange that allows gift cards as a method of depositing funds.
If you’re interested in using your gift card to purchase Bitcoin or to gift someone with one, keep reading to find out how you can do it.
As mentioned earlier, you can’t buy Bitcoin directly with your gift cards but you can use your gift card to fund an account on an exchange platform and trade the funds for its equivalent in Bitcoin.
These crypto exchanges make it easy and convenient to purchase Bitcoin using gift cards without having to use your credit card or make a bank transfer.
Here’s a step-by-step guide on how to buy Bitcoin with gift cards.
The first step is to choose a crypto exchange platform. The gag when choosing a platform is to ensure you choose one that is reputable and accepts gift cards. Although the gift card method of buying Bitcoin is pretty popular, not every exchange is onboard yet.
The good news is that you don’t have to do the research because we’ve done it for you. Once you’ve chosen a platform, fill out the registration form with the required details.
After opening an account, you’ll likely need to submit documents to verify your email address, phone number, and identity. Note that you can’t use your account until it has been verified.
Below is a list of reliable platforms that accept gift cards.
Most Popular 1 Min Deposit $ 100 User Score 5 CFDs on BTC, ETH, LTC, NEO, XRP, IOTA, EOS, BAB, ADA, TRX, XMR No need to open a crypto exchange account or use a special wallet Regulated Broker - FCA, ASIC, CySEC (license number 250/14) Visit Site more info Description: Plus500 is a leading provider of Contracts for Difference (CFDs), delivering Leveraged trading on +2,000 financial instruments, including Forex, Commodities, Indices, Shares, Options and Cryptocurrencies. CySEC license number (#250/14) Payment Methods: American Express, Apple Pay, Bank Transfer, Credit Card, Debit Card, Discover, Google Pay, Mastercard, PayPal, SEPA, Trustly, Visa, , skrill Full Regulations: ASIC, FCA, FSA, MAS, cysec-250-14-regulator, isa-regulator 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
The next step is to fund your account with gift cards. This is very easy. Go to the deposit page and enter the amount you want to deposit. Choose gift cards as the payment method and hit the deposit button to complete the transaction.
After finding your account with your gift card, you can purchase Bitcoin. To do this, find the trading pair for Bitcoin on the trading platform. If you’ve deposited dollars, find the corresponding dollar to BTC pair.
When you’ve found it, enter the amount of Bitcoin you want to purchase and click on the “Trade” or “Buy” button to complete the purchase. This transaction is instant and you should see your Bitcoin in your account as soon as it is completed.
There are many crypto exchanges that support buying Bitcoin with gift cards. Which platform you choose depends on the specific benefits, your preferences, and the fees charged.
You’ll need to do some research to find a platform that suits your needs best. But, we’ve given you a headstart by compiling a list of platforms that accept gift cards as a payment method to buy bitcoin:
Of all the methods of buying Bitcoin out there, is using gift cards the best method for you? This is a question you need to answer before you use the gift card method.
This doesn’t mean that using gift cards is the only method you can use in the future because there are many other options out there. Before deciding to use a gift card to purchase Bitcoin, here are some factors to consider.
If you’re big on anonymity, then gift cards might just be the right choice for you to purchase Bitcoin at the moment because they provide buyers with some level of anonymity. Unlike methods like bank transfers and credit or debit cards that can be directly traced to the owner’s account, gift cards can be purchased with cash, or given out to someone else leaving no trace to their actual owner.
The purpose of your purchase could also inform your decision to use gift cards. For instance, if you’re gifting a friend or family member Bitcoin, a gift card is a great way to get them started without having to go to the trouble of funding their account via their own bank account.
Gift cards are very convenient, especially for people residing in countries where it’s difficult or illegal to fund your trading platform from your bank account. With gift cards, you can purchase Bitcoin and other cryptocurrencies without putting yourself in trouble.
Buying Bitcoin with gift cards is a safe method of purchasing Bitcoin. This is because gift cards allow some anonymity and do not require any direct interaction with your bank or cards.
To ensure the experience is even safer, choose the right platforms and be sure to purchase your gift cards from reputable sources. The risk of using gift cards lies with the broker you choose to work with. A disreputable broker poses a high risk of loss.
Yes, you can buy Bitcoin with gift cards and the process is easy, convenient, and safe. All you have to do is open an account with a crypto exchange platform that accepts gift cards as one of their deposit methods. You can find one from the list we curated above.
How much does it really cost to purchase Bitcoin with a gift card? Outside the price of purchasing a gift card which you could also avoid if your gift card is a gift, there are other fees associated with buying Bitcoin.
However, these fees are very minimal if you’re using gift cards since there are no fees for depositing funds using gift cards. The only outstanding fees are the regular trading fees. Below is a table outlining the fees for buying Bitcoin with a gift card.
Fees
Fee Breakdown
Trading Fees
1-2%
Gift card
Cost of purchasing Gift card
Transaction Fees
No transaction fees
There are more than ten methods of purchasing Bitcoin available so there will always be an alternative method that suits your needs. Whether you want to purchase online using your credit or debit cards, or you want to use the cash or bank transfer method, you have options. And the best part is that you don’t have to look too far for your options because we’ve made a list for you here.