What are Giftcards?

A gift card is a prepaid debit card containing a fixed amount of money that can be used for a range of transactions involving purchase. A giftcard holder can buy anything (amounting to the price contained in the card) from the store where the giftcard is from, before the expiry date.

An amazon giftcard holder, for example, can buy anything from Amazon within the fixed amount that is contained in the giftcard. Other types of Giftcards include iTunes from Apple store, Google giftcard from Google Play store, Steam giftcard from Steam, etc.

The use of giftcard is popular in America, but anyone can still have access to it by any means e.g. They may be given as gifts, or may be received as an alternative payment option, instead of cash or Bitcoin.

Why is it a business in Nigeria?

Nigerians are not particularly inclined to make purchases with giftcards online. So, instead of letting a good giftcard go to waste, won’t it be better to sell it for actual cash instead? Some businesses, like Cordial Exchange, recognize this immediate need to trade in giftcards in exchange for cash, and they are on standby ready to buy it from you. Be as it may, there are several challenges that tend to occur when trying to sell giftcards. It is better to find an excellent platform that would not expose you to these challenges.

Common Challenges to Look Out for when Trading Giftcards.

The following are common challenges to look out for when selling your Giftcards in Nigeria to avoid being duped in any way.

• Rate issues

Watch out for companies that impose low-rate charges when you want to sell your giftcards. These companies would, at the end of the day, leave you with almost nothing to enjoy after you have sold the giftcard for what it is supposedly worth. It is usually preferable to use companies that eliminate the use of middlemen in their transactions. Instead, it should be a direct means of trade where you can sell easily without any absurd rates.

• Security and trust issues

It is better to use companies that are duly registered in Nigeria to avoid stories that touch. Moreover, many scandalous outlets would rather steal the giftcards off you than buy from you. The rule of caveat emptor always applies ­– let the buyer beware.

• Payment speed

This can be very frustrating. You probably want to have a smooth and seamless transaction, or you urgently need the cash for something else, but you are faced with “kindly wait 24 hours to confirm payment” instead. Flee from outlets like this immediately before they flee with your money.

• Payment options

Platforms with flexible payment options are the best. You have the choice to decide whether to be paid in Naira, Bitcoin, or any other form of cryptocurrency, seeing as they are fast becoming the currency of the future.

To easily avoid all of these common challenges, you can just start to trade in your Giftcards with us here, at Cordial Exchange. Identifying the problem is usually the first step to solving them. You trade easily, with a brand so cordially, and you are paid instantly! Also, don't forget to check out our Cordial Christmas giftcard giveaway here.

All you need to know about trading Giftcards in Nigeria.