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The entire operation will be registered in the platform, which also acts as an intermediary. The sellers will ask for a photo ID, for the receipt or to only trade physical cards.
They will prefer prepaid non-rechargeable cards that were purchased with cash. Once the seller checks the balance, they will transfer the bitcoins to your wallet.
To start the deal, contact the seller and state your balance. The seller will check that everything is correct and then release the bitcoins, which will be deposited directly into your wallet. Contact the seller and indicate the balance you want to exchange. For high value transactions, the bitcoins will be released only when the card has been verified.
Blanca Guillen I work as a software developer and for several years I started to get interested in the blockchain technology and Bitcoin cryptocurrency. We continue to support gift cards as a way to help the unbanked buy bitcoin. If your aim is to make a profitable business, there are many other ways besides gift cards to earn the profit. We have outlined many of them here for our West African users.
If you are not the original owner of a gift card, it makes proving the validity and brokerage history of the gift card in question nearly impossible. This means that they keep their records private and no one can access them.
They simply do not want their gift cards used outside of their retail economy and it is with a great legal expense that we continue to support this payment method. Answer : We have tried. We have tried reaching out to them many times but they refuse any such deals. Thus, the validity of many gift cards cannot be checked until they are redeemed.
The volume of attempted dishonest trades involving used gift card codes can sometimes cause a huge delay in gift card disputes. It is an extremely difficult job to prove the validity of a gift card. In many cases, gift card holders provide tampered screenshots to the seller, which renders the integrity of the former questionable.
In a trial, we attempted banning gift card payments in Africa but things backfired and the fraud rate tripled, as honest users were banned and the scammers used VPNs to bypass the block. Our goal here at Paxful is to help users earn money and make profits in an honest way.
It is written clearly in our Terms of Service that any attempt to gain profits using any form of fraud is strictly forbidden. Attempting to sell a used gift card code is not only damaging to your trade partner, but also to the trustworthiness of the Paxful platform as a whole. Therefore, we always ask for proof of purchase and strictly forbid the brokering, or reselling, of gift cards.
Users who intentionally sell used gift card codes will have their accounts banned. Safe trading experience and environment are as important to us as it is to you. Read Also: Currency slump inducing cryptocurrency transaction in Africa. In many circumstances involving gift card trades, not even our moderators can provide a viable solution. There are several reasons for this:. Despite the difficulties associated with gift card trades, Paxful has continued to dedicate efforts in experimenting with possible measures to counteract the harshness of gift card disputes:.
As the only P2P platform that still allows users to obtain bitcoin with gift cards, Paxful is paying a tremendous price and providing human resources to fight against gift card scams.
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