Do you know that gift card business has become a popular option for many Nigerians as a source of livelihood? You may be wondering what gift card business is and how you can make good income trading gift card online. Read along and see the basics of gift card trading in Nigeria.
What is Gift Card?
A gift card is a form of preloaded or prepaid debit card that is issued to customers by retailers, grocery shops, electronic stores, and online market places. Gift cards could be issued to serve as an incentive to a customer or as an alternative to cash.
Gift cards can be redeemed by the customer on merchants’ shops or online stores and there are different gift cards issued across the world.
What Are the Popular Gift Cards Traded?
For you to be able to maximize the potentials within gift card trading, you would need to focus on the popular gift cards that have value in the gift card market. These gift cards are issued by the biggest companies and five of them standout which are iTunes, Amazon, Walmart, Google Play gift cards.
Unlike other gift cards, these five gift cards are always in demand and you can easily resell for quick profits. The gift cards are typically loaded with funds ranging from $10-$500 making it easy to begin trading depending on your initial capital.
What Are the Profit Margins in Gift Card Trading?
Here is a vivid example of the profit margins that makes gift card trading a profitable online business. For example, let’s assume that you bought a $100 gift card for $70 dollars this means that you have a $30 dollar potential profit margin.
You log on to an online gift market platform and list the gift card for $90 and it is sold for that price, you would have just made a $20 profit from just reselling the gift card. Twenty dollars may seem small but once you scale up to 10 transactions daily that is a cool $200 profit daily.
Best Platform for Trading Gift Cards Online
Now that you are armed with enough information about gift cards and the profit margins in the business, you would need to know the right online platform to trade your gift cards. The rise of the internet means that there are several options available but you have to be careful as there are also many scam websites that claim to trade gift cards.
From experience and research, the gift card trading platform that provides the best services and generally recommended to beginner traders is CoinCola.
Before CoinCola, there have been different gift card trading platforms that have been tried by experienced traders but the process has been often dissatisfying. Most of these platforms either had high transaction charges or were absolutely unsafe to use due to the high number of scam buyers on the platform.
However, CoinCola seems to check all the important points and provides ideal benefits and features for gift card sellers, particularly in Nigeria.
Why Use CoinCola?
CoinCola is an over-the-counter exchange platform that connects gift card buyers and sellers as well as offers bitcoin trading services. The platform offers excellent features that differentiate it from other competitors such as low transaction fees and safe gift card trading market.
CoinCola enables Nigerians to sell gift card for Bitcoin which is useful as they can make a profit when the price of BTC rises. Furthermore, you can also convert your Bitcoin and gift card to naira instantly on the platform. The platform provides a safe and inbuilt Bitcoin wallet where you can store your Bitcoins for future purposes.
CoinCola also has one of the lowest transaction fees as the platform only takes 0.7% of your total earnings while its user interface is smooth and easy to navigate.
How to Begin trading on CoinCola
Registering on CoinCola is a simple process which takes less than five minutes. The registration procedure is easy to understand with clear instructions. Ensure that you input the right details about yourself such as your date of birth, phone number, and name. After registering on the website, you can begin to sell your gift card in the gift card market. Just create an offer with your terms which includes price and the means of payment and you are good to go.
The major problem many people face in their quest to make money from gift card trading is not taking action. After reading this article, don’t procrastinate, register for a free account on CoinCola and begin your gift card trading experience.
On Coincola, you can also buy bitcoin with Naira instead of gift card.