Hello and welcome, Today we are going to learn how to make money buying and selling gift cards. It’s quite easy if you learn from the best.
I have some tips that I feel you can find useful, but first, you need to know what the gift card really is.
Gift cards have grown in popularity as a gifting option, but what happens if the intended recipient doesn’t want the card or doesn’t like it?
The opportunity to buy and sell gift cards arises because it happens frequently that people end up with gift cards they cannot use.
Buying and selling gift cards can be a lucrative business if done right. In today’s Tprv guide, we’ll show you how to make money buying and selling gift cards.
What are Gift Cards?
Gift cards are debit cards that have a predetermined amount of money loaded onto them and can be used to make purchases at a particular retailer or online store.
It is common for a retailer, bank, or credit card company to be the entity that issues them, and consumers have the option of purchasing them in a variety of denominations.
Most brands in Nigeria don’t use gift cards because the nation is underdeveloped.
Unlike in other countries, where you can use giftcards to get stuff in Walmart, Starbucks, Best Buy, and other companies.
Gift cards are very popular due to the fact that they are simple to use and can be given to the recipient on a wide variety of occasions, such as birthdays, holidays, and other special events.
Why Buy and Sell Gift Cards?
As mentioned earlier, gift cards are a popular gift choice, and they are also a popular item to sell. According to the National Retail Federation, gift card sales reached $160 billion in 2018.
There is a waste of gift cards because not all of them are used. This is the sweet spot for making money off of buying and selling gift cards.
Whether your goal is to make a living or some extra spending money, buying and selling gift cards can be a profitable endeavor.
You can make a profit with little effort by purchasing gift cards at a discount and reselling them at face value.
You can buy and sell gift cards easily on a number of websites and marketplaces, but finding the best one requires some investigation.
Selling and buying gift cards is one of the lucrative methods to make money online in Nigeria, so without further ado, let’s look at the steps to get started.
How to Buy Gift Cards
There are several ways to buy gift cards in Nigeria, few of the methods are what I will be using today. Most of these methods may not be applicable to Nigeria, but they can still work there.
To get a gift card in Nigeria, all you have to do is get one online. why in the United States, you can just walk up to a store and get one
There are several ways to buy gift cards, including:
Online marketplaces
Discounted gift cards can be purchased from sites like Cardpool, Giftcard Granny, and Raise.
Popular stores like Target, Walmart, and Amazon are just some of the many that offer gift cards on these sites.
To ensure you get a good deal, some of these sites offer a guarantee on the value of the gift card you purchase.
In-store promotions
Some retailers offer promotions where you can buy gift cards at a discount. For example, during the holiday season, some stores offer discounts on gift card purchases.
Be on the lookout for sales like these if you want to save money.
Auction sites
It’s important to exercise caution when purchasing gift cards from sites like eBay and Craigslist.
Before making a purchase, double-check the legitimacy of the gift card and the seller’s feedback.
How to Sell Gift Cards
After purchasing gift cards at a discount, you can resell them for face value and pocket the difference. There are a few different approaches to selling gift cards, including the following:
- Online marketplaces: The same websites that allow you to buy gift cards also allow you to sell them. It is important to shop around for the best of these sites because they all take a cut of the profits.
- Gift card exchange sites: Sites like CardCash and Giftcard Zen allow you to sell your gift cards for cash. There is a slight loss in profit when selling a gift card through one of these sites, but it’s worth it for the ease and certainty of the transaction.
- In-person: You can also sell gift cards in person by posting ads on classified sites like Craigslist or Facebook Marketplace. This option requires more effort, but you may be able to sell the gift card for a higher price.
FAQ
Can I sell partially used gift cards?
How do I avoid getting scammed when selling gift cards online?
Can I sell gift cards that have already expired?
Is it better to sell gift cards for cash or trade them in for other gift cards?
Are there any fees or commissions associated with selling gift cards online?
Conclusion
In conclusion, buying and selling gift cards is a great way to make money. It can be an easy side hustle as long as you know the right strategies, where to look for cards, and how to market them.
With patience and dedication, it’s possible to make a significant amount of money through this venture.
By taking the time to research your options, you can find the right deals and make the most out of your investment.
