Gift card trading is huge on Paxful. Not only are there thousands of trusted offers for various gift cards available, there are also tons of people who use it as their main way to trade Bitcoin. 

We implement robust security measures to make sure that you’re trading gift cards in a safe space. However, you can also do your part in trading safely. Given by some of your fellow traders, here are the best practices to follow to ensure safety when trading gift cards for Bitcoin on Paxful:

Best practices: buying Bitcoin with gift cards safely

  • Provide proof to your seller. Give your seller proof that the gift card is valid, that you bought it yourself (a photo of the receipt), and proof that you actually own it (a photo of the gift card and a screenshot of the gift card’s balance). 
  • Take screenshots or record your trade. Photos and videos that show you’re an honest trader will greatly help your case in the event of a dispute. 
  • Don’t upload any photos until it’s asked for. Before you go ahead and send in your payment, wait for the seller to specifically ask you to send a photo of your gift card code. 
  • Don’t redeem gift cards in a short period of time. Using too many gift card codes in a short amount of time may lead to merchants restricting your account. 

Best practices: selling Bitcoin for gift cards safely

American Express Gift Card & OneVanilla VISA/MasterCard Gift Card

  • Specify the number series of the card you accept. For example, starting with 4356. 
  • Tell your trade partner to hold off on payment until you ask for it. Make sure that you’re ready to receive the payment before asking them to send it. 
  • Ask if the card has a full balance. Tell your buyer that the card balance has to be full in order for you to accept it. 
  • Make sure the gift card is unregistered. Don’t register the card. 
  • Ask your buyer to upload the gift card with proof. Make sure that they include the current balance along with the current time. 
  • Ask for all the card information. This includes the card number, expiration date, and CVV2 (e.g. XXXXXXXXXXXXX XX/XX XXXX).
  • Wait a couple of minutes to process the card. If the card gets declined, tell your trade partner that you’ll recheck it again after an hour. 

VISA Gift Card

  • Specify the number series of the card you accept. For example, starting with 4356. 
  • Make sure the gift card is unregistered. Don’t register the card. 
  • Ask your buyer to upload the gift card with proof. This includes a screenshot of the card’s balance, transaction history, and the current time. If they don’t know how to check the balance, you can redirect them to this website. 
  • Ask for clear pictures. This includes a clear photo of the front and the back of the card. Make sure that you can easily read all the details from the pictures. 

Walmart Gift Card

  • Specify the number series of the card you accept. For example, starting with 4356. 
  • Make sure the gift card is unregistered. Don’t register the card. 
  • Ask if the card has a full balance. Tell your buyer that the card balance has to be full in order for you to accept it.
  • Ask your buyer to upload the gift card with proof. Tell them to type the first four digits of the card, the date and time at which the gift card was purchased (visible on the receipt), and then the full gift card number. Additionally, ask them to upload a screenshot of the balance along with the current time. 
  • Ask for clear pictures. This includes a clear photo of the front and the back of the card. Make sure that you can easily read all the details from the picture. 

Amazon Gift Card

  • Ask your buyer to upload the gift card with proof. This includes a photo of the receipt. 
  • Take a close look at the receipt. See if the receipt is under your trade partner’s name and look at the date of purchase. 
  • Ask if their account is restricted on Amazon. Ask them how often they sell Amazon Gift Cards—if they do it often, it’s likely that their account is restricted. 

Learn to trade Bitcoin safely

Whenever you trade Bitcoin, it’s important that you learn how to minimize risk in any way you can. Doing so will give you more security over your money and allow you to be the best trader you can possibly be on Paxful. 
If you want a more automated trading experience, be sure to check out our Gift Card Hub!