What are crypto gift cards? How to buy, sell, send, receive, redeem crypto gift cards with cryptocurrencies. How to buy and redeem crypto gift cards in India and other countries?
What Are Crypto Gift Cards?
Crypto Gift Cards are coupon codes prepared in QR codes. These QR codes keep the information regarding the crypto funds, similar to Amazon gift vouchers and another eCommerce gift voucher.
The basic difference is that Amazon gift voucher is used to purchase products and service and other gift vouchers can be used to redeem them into cash. But crypto gift cards or gift vouchers can be used to transfer crypto into the wallet.
Some central or CBDC crypto gift cards can be used to purchase products, similar to the OneCoin gift card or DealShaker coupon. CBDC gift vouchers can be given to some specific and eligible persons.
But Bitcoin and other Altcoins, gift cards can be given to anyone and can be used to redeem into cash or crypto coins.
How do crypto gift cards work?
Crypto gift cards are issued by big crypto exchange companies like Coinbase, Binance, CashApp, and Robinhood. You can buy these crypto gift codes from these exchanges. And these crypto gift cards can be used further for redeeming into cash, purchasing goods and services, donations, and giving rewards or presents on some special occasion.
Crypto gift cards are unique vouchers created on blockchain platforms similar to NFTs and Meme Tokens. These gift cards have their unique transaction record in blockchain and can’t be misused.
These are similar to bonds in the current stock market. Here crypto gift cards cost is calculated in Bitcoin or other altcoins like Ethereum, BNB, and BUSD, etc. Most of the merchants accept Crypto Gift Cards as the crypto market is very volatile.
Suppose any merchant is selling a product with a $500 cost. And at a present time, the cost of the product is equal to 1 ETH. But suddenly, the price may go up or down. But the merchant doesn’t want to take risks. So, he may request a crypto gift voucher of 1 ETH value. It doesn’t matter what is the current exchange rate of Ethereum.
Crypto gift cards value is defined in crypto quantity like 1 Crypto Gift Card may be equal to 1 BTC or 5ETH or any other figure that its developer decide. It will not consider with Fiat currency value as crypto price may pump or dump with time.
Where to Buy Crypto Gift Cards?
Crypto Gift Cards Can Be Purchased From Almost All Major Cryptocurrency Exchanges. The process of buying them is the same as buying cryptocurrency or other tokens.
The most popular website is Coinbase and Binance.
How to Buy Crypto Gift Cards?
Crypto Gift Cards can be purchased from central or decentralized exchanges with the help of Fiat and crypto simultaneously.
Go to exchange and pay Bitcoin or other crypto and receive the gift card.
Cost can be paid with Fiat currency, wallet currency, or exchange currency.
Buyers should have a crypto wallet or KYC verified account on the exchange.
How to Send Crypto Gift Cards?
Crypto Gift cards can be sent with the help of exchange, wallet address, or QR code. The sender can pay you directly in your crypto wallets like Trust Wallet or Meta Mask.
A gift card could be sent in the form of a QR code or coupon code. It can be directly paid to the receiver’s crypto wallet address.
The receiver should have any one of the following requirements: Wallet address, Exchange wallet, QR code scanner, etc.
FAQ
Binance and Coinbase.
Yes
Binance Gift Card
Coinbase gift card
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