How to Buy Bitcoin with an Amazon Gift Card

Got an Amazon gift card gathering dust? Make the most of it! We've got a smart way for you to use it.

This guide will show you how to turn your Amazon gift card into cryptocurrency. We'll walk you through the available methods, explain the process step by step, and highlight the potential risks to watch out for.

What Is An Amazon Gift Card?

An Amazon gift card is a prepaid card that lets you shop for items or services on Amazon. You can get them as digital or physical cards with various value choices. They're perfect for online shopping and, as the name suggests, are commonly used as gifts.

You can still use your gift card outside of Amazon with the right steps. But what about using it for buying crypto? You can buy crypto with an Amazon gift card via P2P exchanges. On platforms like Cryptomus, you can find users who agree to trade tokens for your Amazon gift card balance. So, although Amazon doesn’t handle crypto transactions, you can still complete the trade.

You can also try redeeming your card and using the balance to buy tokens. It's a bit more indirect than a P2P exchange, but we’ll go over the details shortly.

A Guide On How to Buy Crypto with An Amazon Gift Card

Since we’ve confirmed that Amazon gift cards can be used for making BTC purchases, let’s go over the steps to make it happen. Here’s how to buy crypto with an Amazon gift card:

• Pick a Trusted P2P Platform
• Create and Verify Your Account
• Set Up Filters and Find a Suitable Seller
• Initiate a Trade
• Provide Gift Card Details
• Wait for Verification
• Receive Crypto

When searching for sellers, use the filter to find those who accept Amazon gift cards. Don’t forget to review their ratings, reviews, and trade conditions first. Once the terms are set, send the gift card code, and the seller will unlock the tokens once they verify it.

To get cash for your gift card, you’ll need to use a service like CardCash since Amazon doesn’t allow direct cashouts. The downside is that these services typically take a commission, meaning you’ll get less than the full value of the card. If the card is unused, you can also try selling it, but it might take a while to find a buyer.

Once your cash-out is finished, you can *buy Bitcoin or other coins through any crypto exchange.

Benefits and Risks of Purchasing Crypto with Amazon Gift Card

If you're thinking of using your Amazon gift card for token purchases, take some time to weigh its positive and negative aspects. It will give you a clearer perspective and help you get the best deal possible. The benefits are:

• Convenience: Your unused gift card balance can become a growing financial resource.
• Low Entry Barrier: Such cards are readily available and ideal for those just starting with crypto.
• No Bank Account Required: You can complete transactions without needing a bank, offering more privacy and independence.
• Budget Control: These cards come with a fixed balance, helping you stick to your budget.

As for the risks, they include:

• Potential Scams: If you don’t vet sellers on P2P platforms, scammers could take your gift card code and not send the crypto, leaving you empty-handed. Thus, be sure to pick a reputable platform with verified traders.
• Limited Options: It could take a while to find someone willing to accept a gift card as payment.
• Unfavorable Exchange Rates: Cryptocurrency you receive might not be equal to the full value of your gift card, as sellers may offer a reduced rate to account for the risks.

Now, you’re aware that Amazon gift cards can be used for crypto acquiring. While it's not the usual route, it could be a good way to put any gift cards you aren’t using into operation. Just make sure to assess the risks and stick to trustworthy platforms.

We hope this guide was helpful. Send in your questions and suggestions below!