PlayStation Network (PSN) gift cards have gained immense popularity among gamers for gifting and personal use. These cards allow users to purchase various digital content, including games, downloadable content (DLC), themes, and PlayStation Plus subscriptions.

PSN cards can be bought online or at various physical retailers, but did you know that you can also buy one from a P2P marketplace such as Paxful?

This article provides a detailed guide on using Paxful to buy PSN gift cards directly at discounted rates.

Step-by-step guide on how to buy PSN gift cards on Paxful

To buy discounted PSN gift cards, you must first convert your fiat currency to Bitcoin, Tether, Ethereum, or USDC. Here’s how:

Step 1: Create a Paxful account

Start by registering for a free account on the Paxful website, iOS, or Android apps. Enter your email address or phone number and complete the registration prompts.

To comply with KYC and AML policy, Paxful will request identity verification documents such as your Passport and Driver’s license. Here is a complete list of I.D. requirements based on your location. 

Log in and proceed to step two below if you are already registered.

Step 2: Convert your money into crypto

Navigate to the Buy Bitcoin section of Paxful then select your preferred payment method from the 450 supported payment options such as bank transfers and online wallets.

From the list of sellers, select the one with a high feedback score and a reasonable price per crypto. Next, click the “Buy” button next to their offer to read the seller’s requirements. If the terms are fair, enter the amount of crypto you wish to purchase and click “Buy now”.

When the trade starts, follow the seller’s instructions carefully and then send the payment when the seller prompts you. Once the seller verifies that the money has been sent, your Bitcoin will be released from Paxful’s secure escrow and transferred to your Paxful account.

Step 3: Trade your crypto for a PlayStation Network gift card

Now that you’ve converted your money into crypto, it’s time to swap it for a PSN gift card. All you need to do is reverse the process but with a few changes.

Go to the Sell Bitcoin section of the Paxful marketplace then select “PlayStation Network Gift Card” as your preferred payment method to see all Paxful users who want to trade their PSN gift card for your Bitcoin.

Choose a trade partner with favorable terms and click the “Sell” button to read their requirements. The PSN gift card region and denomination are typically mentioned in the requirements so make sure to read the details carefully.

If the terms are fair, set the amount of Bitcoin you want to trade away and click the “Sell now” button to start the trade.

Once the transaction starts, ask your trade partner to disclose the gift card code. Log in to your PSN account to check whether the code has been used. If the PSN code is unused, consume it immediately, then ask your trade partner to mark the transaction as “Paid”. Finally, release Bitcoin from escrow to automatically transfer it to your trade partner’s Paxful account.

If the gift card code given to you has already been used or is invalid,  click the start a dispute button on Paxful so our moderators can assist you in recovering your Bitcoin from escrow.

Why this method?

Paxful connects buyers with sellers, resulting in PSN gift cards at reduced rates. Gamers can often find PSN cards with a 10-40% discount from their original price, resulting in immediate savings on digital purchases, downloadable content, and subscriptions.

For example, a $50 card might be available for $40-45, freeing up funds for premium game editions, season passes, or in-game items. Savvy game enthusiasts can stack these discounts with PlayStation Store sales for even more significant savings. Moreover, regular deals on the platform make it easy to stock up on credit when prices are most favorable.

Why do people sell their PSN gift cards?

There are various reasons why individuals choose to sell their PlayStation Network gift cards. Some may not have a use for the gift card or do not like it. Others may have been gifted one, but they do not own a PlayStation console or have no interest in digital games, preferring physical game copies or different gaming preferences.

Additionally, some recipients may already have sufficient funds in their PSN account. Financial needs may also prompt sales, as sellers might require cash for urgent expenses or prefer the flexibility of money over a restricted-use gift card. Occasionally, individuals receive duplicate cards or ones with incorrect denominations or regions.

Some people may sell PSN gift cards for Bitcoin on platforms like Paxful to seek cryptocurrency investments. This option appeals to those interested in digital assets or seeking alternative payment methods. Gift card resale can sometimes offer buyers discounts, creating a win-win situation where sellers recoup value from unwanted cards while purchasers save money on PlayStation content.

How to safely and securely trade Playstation Network gift cards on Paxful

The Paxful marketplace is a safe environment to trade gift cards or fiat currency for crypto and vice versa. However, peer-to-peer transactions have some inherent risks but you can mitigate them by following these guidelines:

• Research and choose reputable sellers: Opt for sellers with high ratings and positive feedback. Check their transaction history and reviews to gauge their reliability. For beginners, it is advisable to trade with small amounts first.

• Verify gift card codes: Verify the gift card code with the seller before releasing payment. Ask the seller to provide a clear image of the gift card, including the code and relevant details. This can help ensure that you are receiving a legitimate card. Use the official PSN website or app to check the card’s balance before finalizing the transaction.
• Keep communication on Paxful: Use Paxful’s messaging system to communicate with the seller as the chat logs will support your case in case of a dispute. Be clear about the terms of the trade, including payment methods and delivery of the gift card.

• Avoid unusual offers: Be wary of deals that seem too good to be true. If a seller is offering a significantly discounted price, like an 80% discount, it may be a red flag.
• Report suspicious activity: If you encounter a suspicious seller or offer, report it to Paxful immediately. This helps protect the community and can prevent others from falling victim to scams. Here is how to contact Paxful’s 24/7 customer support team.

Purchasing discounted PSN gift cards through Paxful offers gamers an intelligent way to maximize value. This approach significantly benefits PlayStation enthusiasts looking to stretch their gaming budget, as they don’t have to pay the total price.

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Are you considering selling or buying a Playstation Network gift card at a discount? Please create an account today with Paxful to get the best possible deals in our marketplace.