When you first look at this topic, it seems unrelated. You might ask, ‘What is the relationship between an Apple gift card and Bitcoin? ‘ The answer is ‘Not Much,’ but this does not mean they have no role to play.
Gift cards, in general, are used in place of bank cards and cash as a means of payment. You can trade them for money when you no longer need them.
Bitcoin is a cryptocurrency with high liquidity that can also be traded for cash. This implies that if you can trade gift cards and Bitcoin for money, then you can also exchange them. This is known as the value exchange process.
Bitcoin and gift cards hold their monetary values, which must be equal before they can be converted to each other. Our focus on this topic is on Apple gift cards.
At this point, you must have understood their relationship. I will show you how to convert Apple gift cards to Bitcoin in this write-up. We will also look at why you should convert and the various platforms for their conversions.
Let us now look at what Apple gift cards are.
What Are Apple Gift Cards
Apple is a tech company that has created digital, software, and physical products and devices such as iPhones, iPads, Mac computers, iOS, macOS, Apple Music, and Apple Watches.
Until the Apple gift card came out, you could pay for these products with cash or a card. Now, you can pay for Apple’s digital and software products with this gift card, which has become its substitute form of payment.
Yours could be a physical or e-gift card, but it is accepted and used only within the Apple ecosystem. The only limitation is that it only works in certain regions. To get an Apple gift card, you go through its official website, a third-party app, or a local store.
Bitcoin
In 2009, a new form of money was introduced called cryptocurrency. It was called cryptocurrency because its mode of transfer was done anonymously with encryption, and it did not require a third party or intermediary to complete the transaction.
The first ever of this cryptocurrency was Bitcoin. Bitcoin was created using blockchain, a distributed digital record system that stores transactions and data in many locations, each block comprising transaction data and IDs.
Today, Bitcoin is the most valuable cryptocurrency in the world, with one trading for $106,794.40. It is widely accepted for making payments worldwide, and some governments have even accepted it as their official currency.
How to Convert Apple Gift Cards to Bitcoin
Before we get to the process, it is important to know that, unlike buying a gift card, you cannot directly swap your gift card for Bitcoin on the official Apple website. However, other ways exist to get Bitcoins for your gift card.
- Third-party apps
With apps like Prestmit, Paxful, and others that accept crypto, you can swap your gift card for Bitcoin when you take these steps;
- Create an account on the preferred app of your choice.
- Choose the Apple gift card as the card you wish to trade.
- Bitcoin should be your chosen method of payment.
- Confirm the transaction details, like your Bitcoin wallet address, and wait for the transaction to complete.
- Receive your Bitcoin.
These steps should work for most apps that accept crypto. However, some apps will instead provide you with a peer-to-peer platform where you can swap your gift cards with interested vendors, and the process will differ.
- Local Vendors
Once in a while, you will encounter vendors that buy physical Apple gift cards. You can exchange yours for Bitcoins as a way of conversion.
- Selling
This last method is to sell your gift card for money and then use it to buy Bitcoins.
Why Convert Apple Gift Cards to Bitcoin
The reasons for such conversions between Apple gift cards and Bitcoin abound, even though they may not have much in common, and they are as follows:
- Region-specific: Apple gifts are only usable in the countries where you buy them, with limited availability in Africa and the Middle East. So, if you have them in regions where they do not work, you can exchange them for Bitcoins, as Bitcoins are more accepted.
- Profit: Bitcoins yield high returns on investment. So, if you want to accumulate them, your Apple gift card is one way. With your Bitcoin, make money as the value increases.
- Redeeming gift cards: Apple gift cards do not expire, but if you can redeem them, swapping them for Bitcoin is a way around it. You do this to avoid having too many unused gift cards.
- Exploring: Converting your gift cards to bitcoins is one way to start if you are interested in getting into cryptocurrency.
Benefits of Converting Apple Gift Cards to Bitcoin
You stand to gain these when you convert your Apple gift card to Bitcoin.
- Bitcoin stems inflation: If you use a third-party app to trade your gift card, you will know that the gift card is unstable against the dollar, regardless of your local currency.
Therefore, bitcoin is a way to curb the effects of inflation on your trades. Its price is volatile, and it yields more profit when it goes bullish.
- Risk Management: Conversion is a form of risk management against losses because it allows you to diversify your trade portfolio and make a profit even when sales are not that high.
- Safety: Bitcoin conversions are more secure and safer than cash transactions because they are private and require no third party. This is also a way of tackling scams.
Converting Apple Gift Cards to Bitcoin: Key Tips
- Trade with reliable sites such as. Avoid visiting untrusted websites.
- Check the user ratings, reviews, and transaction history. Trade with trustworthy buyers and sellers.
- Compare exchange rates from different platforms and go with what you can afford.
- Never share your gift card codes or personal information outside of secure channels.
- Check for hidden fees to avoid getting less than you paid for.
- Before beginning the transaction, double-check that your Gift Card is legitimate, unused, and has the correct balance.
- Use platforms that provide escrow services, holding Bitcoin until the buyer confirms the gift card code is valid.
- Before you complete the transaction, make sure your Bitcoin wallet address is correct.
- Be wary of customers who rush you into trades, offer unrealistically low prices, or ask for gift card codes. Those are likely scammers.
- Understand the platform’s policies, dispute resolution process, and terms of service.
Conclusion
At the end of this article, we can see how the relationship between Apple gift cards and Bitcoin can be. Now, you know that an Apple gift card will benefit you regardless of whether it works in your region.
To get the most out of these conversions, put safety first. Patronize trusted apps and vendors, and watch out for scammers and their tricks. A gift card for crypto transactions is worth it if you do it right.
To read up on more crypto-related articles, check out our Blog session.
