You’ve likely read many articles on how to sell and get cash for gift cards.
The keyword here, however, is “safely”. How to do it safely?
Instances of online frauds aren’t uncommon.
And especially if buying and selling gift cards is something new for you, things get even trickier, demanding more care and vigilance before making any particular decisions.
Plus, the fact that flipping gift cards have become more popular now, there are more people out there who are likely trying to trick buyers and sellers – either by not paying them at all or paying very little.
In any case, you’re at loss.
So, how to sell gift cards for cash safely online?
The first step is, of course, becoming an informed trader. If you’re not well-versed with this market, spend some time in understanding how things work here. How to sell, how to buy, how to find the right dealer, what kind of gift cards sell the most, which gift cards’ value is very low, what’s the prevailing price of different gift cards in the market, and so forth.
The more you learn, the better. The chances of an informed person making a mistake are relatively much less.
Thereon, find some good gift card exchanges that are reputed and trusted by other buyers and sellers. Doing some research on Google can lead you to such names.
Admittedly, just because they are the “top” names doesn’t mean they would offer you the best value for your gift cards. Looking at their valuation model, as well as various other aspects is important to ensure they are safe. This “various other aspects” includes how long will they take in paying you, how they will transfer the money, do they offer money-back guarantee, what kind of team they have, and more.
To maximize your earning potential, please read: How to Get More Cash for Gift Cards
It’s worth noting that you should avoid selling on marketplaces (like Facebook Marketplace and Craigslist). In this segment, these platforms are often a go-to for scammers. They will take your gift cards and never pay you. Moreover, here, everyone is looking to buy at the lowest price and sell at the highest value. You’re unlikely to find a good deal. If anything, you might end up with losses. (Although these marketplaces are great for price discovery, that’s a whole different topic altogether.)
Also, maintain a distance from platforms or offers that sound too good to be true. For instance, if they are having a gift cards for sale that promises face value for the cards, there are good reasons to be skeptical. So, avoid dealing with them.
In the end, it’s not difficult to steer away from frauds. Staying informed and aware of the market will help your case.
Hope these little tips will help you get cash for gift cards online safely. Here are some additional resources you should give a read: