Gift cards are everywhere and make good last-minute gifts. But let’s be honest. Not every gift card received is thrilling and you might not use it. For example, 43%, or nearly $21 billion worth, of gift cards received by Americans go unused. 

Instead of letting them collect dust in a drawer or expire, why not turn them into something more valuable, like crypto?

Converting gift cards into crypto gives you access to digital assets that can grow in value or be used for online transactions. And if you ever need a gift card instead, you can swap your crypto back. Here’s how to do it.

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Key takeaways

• You can convert unused gift cards into the cryptocurrency of your choice. 
•  When swapping gift cards for crypto, pay attention to the exchange rate, gift card balance, extra terms, and the trader’s reputation.
• If anything goes sideways when converting gift cards into crypto and vice versa, Paxful’s dispute resolution system will help you settle the issue.

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How to sell gift cards for crypto on Paxful

With Paxful, you can easily convert those unused gift cards into cryptocurrency. Yep, that dusty Starbucks card could become Bitcoin, Ethereum, USDT, or USDC. It’s a clever way to give those forgotten cards new life and maybe even grow your crypto stash.

And hey, it works the other way, too. If you want to save cash on your next shopping spree, Paxful lets you snag discounted gift cards by paying with crypto.

Whether you’re trying to stretch your budget or just curious about new ways to use your digital coins, it’s a win-win. It is an easy process—just follow these steps:

Step 1: Create a Paxful account

First things first, head over to Paxful and sign up. The process is simple—enter your details, verify your email, and you’re in. Want to add an extra layer of security? Enable two-factor authentication (2FA) while you’re at it. 

Step 2: Login and go to the marketplace

Once you’re in, go back to the Paxful homepage, tap Marketplace from the main menu, tap Buy, and select either BTC, ETH, USDT, or USDC. At the sidebar of the next page, select the name of the gift card you own, and tap Find Offers.

Step 3: Find a trade partner

Select offers from countless Paxful users willing to trade their crypto for your gift card. Make sure to check the price per crypto and the user’s profile to determine if they’re worth your time.

Step 4: Review the offer details

Before you commit, pay attention to the trade terms. Some users may require you to send photos of the receipt or actual gift card as proof that you actually own one.

Step 5: Start the trade

If the terms are cool, enter how much crypto you want to get, and tap Buy Now. Use the chat box to ask your trade partner for more information. When you get the signal, submit your gift card details (card number, PIN, and balance) then mark the transaction as Paid.

Step 6: Wait for the seller to verify the gift card

The seller will check that your gift card is legit. This part usually doesn’t take long. Stay available in the chat if they need more info. 

Step 7: Get your crypto

Once the seller confirms your gift card, they’ll release the agreed-upon amount of crypto into your Paxful account.

Step 8: Leave feedback

After the trade, take a moment to leave feedback for the seller. It helps others know who’s trustworthy.

And that’s it! You’ve turned a gift card into crypto in just a few steps.

How to buy gift cards with crypto

Are you looking to swap your crypto for a gift card? The process is similar  to buying crypto, just in reverse

Step 1: Set your requirements

Tap Marketplace from the Paxful main menu, pick Sell, and choose either BTC, ETH, USDT, or USDC. At the next page’s sidebar, choose the gift card you want to get, and tap Find Offers.

Step 2: Find a legit trade partner

As usual, carefully check the price per crypto and the user’s profile before starting the trade.

Step 3: Review the terms

To find a trade partner with favorable terms,  tap Sell to check their requirements.

Step 4: Start the trade

If the terms are agreeable, enter how much crypto you want to trade away, and tap Sell Now. Again, use the chat box to communicate with your trade partner. Tell them to send the gift card details when you’re ready.

Step 5: Claim the gift card

Check if the gift card is unused by checking its balance online. To make things easier for you, read our guide on how to check the balance of various gift cards. If the gift card checks out, claim it, then release the crypto from escrow and into your trade partner’s Paxful account.

Step 8: Leave feedback

As always, leave your trade partner feedback for the seller to help them build their rep.

What if something goes wrong?

If the gift card code is invalid or you encounter other issues, don’t panic. Click the Start a Dispute button, and Paxful’s moderators will help resolve the issue and recover your crypto.

Why use Paxful to swap gift cards for crypto or crypto for gift cards

Paxful stands out for a few key reasons:

• You can liquidate unused gift cards easily: Instead of letting unwanted gift cards collect dust, you can quickly convert them into crypto—even if the exchange rate is slightly less than the card’s face value.
• No extra fees when buying crypto with gift cards: Paxful operates on a peer-to-peer model, meaning you only pay the agreed-upon rate with the seller—no hidden costs.
• Flexibility to buy gift cards with crypto: You can snag gift cards at discounted rates using crypto, stretching your budget and maximizing your digital assets.
• Secure and user-friendly: Paxful’s escrow system and dispute resolution process keep transactions safe, while the platform’s intuitive design makes trading seamless.
• Global accessibility: Paxful supports various gift cards and cryptocurrencies, catering to users worldwide.

How To safely trade gift cards

Trading gift cards for cryptocurrency on Paxful can be easy and secure—if you take the proper precautions. 

Here’s how to buy a gift card with crypto and  keep your transactions smooth and safe:  

• Choose reputable sellers: Before you start a trade, take a minute to check the user’s ratings, reviews, and trade history. A high rating and solid feedback mean you’re less likely to encounter problems.
• Verify gift card details. Ensure your gift card is legit by verifying the balance, checking the expiration date, and reading the terms. And definitely don’t trade a card that’s been used, scratched, or looked tampered with.  
• Use Paxful’s escrow system: Paxful protects you by holding the crypto in escrow until both parties fulfill their obligation. Never release crypto or disclose gift card details until you’re 100% sure everything checks out.  
• Communicate through Paxful’s trade chat: Use Paxful’s trade chat for all communication. It keeps a record of your conversation, which can help if there’s ever a dispute. Plus, it’s just safer.  
• Avoid sharing sensitive information: No matter what, don’t share personal and gift card details—unless necessary and only through Paxful’s secure channels. If someone asks for extra info out of nowhere, that’s a red flag.
• Beware of scams: Speaking of red flags, be cautious of traders who rush you, push for sketchy payment methods, or offer deals that seem too good to be true. 
• Use the dispute resolution system: Paxful’s team will help if something feels off. Don’t hesitate to use it if a trade isn’t going as expected.

👉 Additional reading

1. How to Safely Trade Gift Cards on Paxful