Even though Steam gift cards are beneficial for purchasing games and other digital items, sometimes, you might prefer to convert those gift cards into Bitcoin.
New people who want to invest in cryptocurrency or diversify their assets often convert their Steam gift cards to Bitcoin, which can be easy and profitable.
If you have a Steam gift card but would rather have Bitcoin, the good news is that several online platforms allow you to trade your gift card for Bitcoin quickly. These websites connect buyers and sellers, letting you exchange your Steam gift card for cryptocurrency at competitive rates.
This guide will take you through the step-by-step process, introduce the best platforms, and give you safety tips to ensure secure transactions.
Top 3 Websites to Convert Steam Gift Cards to Bitcoin
To convert your Steam gift card to Bitcoin, you’ll want to use a reliable platform that ensures fair rates and secure transactions. Below are the three top platforms for this conversion:
1. Prestmit
Prestmit is a popular choice for trading gift cards for Bitcoin. The platform is known for its fast and straightforward process and offers support for various gift cards, including Steam.
2. CoinCola
CoinCola is another trusted platform that offers a peer-to-peer marketplace where users can trade Steam gift cards for Bitcoin. It’s user-friendly and has an escrow system to protect both parties during transactions.
3. Paxful
Paxful is one of the biggest peer-to-peer Bitcoin trading platforms. It allows users to trade various gift cards, including Steam, for Bitcoin and provides secure transactions with its escrow system.
Let’s look at how to use each platform to convert your Steam gift card into Bitcoin.
How to Convert Steam Gift Card for Bitcoin on Prestmit
Prestmit offers a seamless way to convert your Steam gift card into Bitcoin. Follow these simple steps:
Step 1: Create an Account
Start by registering on Prestmit’s website or downloading the app. Then, create an account using your email and a secure password.
Step 2: Select Steam Gift Card
Once your account is set up, navigate to the gift card section and select Steam as the type of gift card you want to trade.
Step 3: Choose Bitcoin as the Payment Method
When prompted to choose how you want to be paid, select Bitcoin. Prestmit will display the current rate for converting your Steam gift card to Bitcoin.
Step 4: Wait for the Transaction to Process
Submit your gift card information and wait for Prestmit to verify its authenticity. This usually only takes a few moments.
Step 5: Receive Bitcoin
Once the gift card is verified, your Bitcoin will be sent to your wallet to complete the transaction.
How to Convert Steam Gift Card to Bitcoin on CoinCola
CoinCola makes it easy to trade Steam gift cards for Bitcoin. Here’s how you can complete the process on their platform:
Step 1: Register or Log In
First, you’ll need to create an account on CoinCola or log in if you already have one.
Step 2: Navigate to the Gift Card Trading Section
Once logged in, go to the platform section dedicated to trading gift cards and select Steam as your type.
Step 3: Choose “Buy BTC”
On the trade page, select the option to buy Bitcoin using your Steam gift card.
Step 4: Initiate a Live Chat with the Seller
CoinCola operates a peer-to-peer marketplace, so you must start a live chat with a seller. Click on “Buy Now” to begin negotiating the trade.
Step 5: Follow the Seller’s Instructions
The seller will provide you with specific instructions on how to complete the trade. You’ll typically need to send the gift card details to the seller.
Step 6: Bitcoin Released to Your Wallet
Once the seller verifies the gift card, the Bitcoin will be released from escrow and transferred to your CoinCola wallet.
How to Convert Steam Gift Card to Bitcoin on Paxful
Paxful is another excellent platform for converting Steam gift cards to Bitcoin. Follow these steps to complete your transaction:
Step 1: Create an Account and Log In
If you don’t already have a Paxful account, you’ll need to sign up. Once you have an account, you can log in to access the trading features.
Step 2: Go to the ‘Buy’ Section
From the Paxful dashboard, click on the “Buy” button to initiate a new transaction.
Step 3: Leave the Default Option as ‘Bitcoin’
If you want to buy Bitcoin, leave the default option set to Bitcoin.
Step 4: Choose Steam Gift Card as the Payment Method
Scroll through the available payment methods and select Steam gift card as your preferred option.
Step 5: Enter the Gift Card Amount and Currency
Next, input the value of your Steam gift card along with the currency in which it’s denominated. This will help match you with a seller offering competitive rates.
Step 6: Start the Trade
Once you’ve selected the best offer, click “Start Trade” to open a chat with the seller.
Step 7: Receive Bitcoin
After you follow the seller’s instructions and verify the gift card, the Bitcoin will be released to your Paxful wallet from the platform’s escrow system.
Safety Tips to Trade Your Steam Gift Card for Bitcoin
Trading your Steam gift card for Bitcoin can be a great way to convert unused funds into cryptocurrency, but it’s important to stay cautious to avoid scams and secure your transaction. Here are some safety tips:
- Stick to Trusted Platforms: Only use well-known platforms like Prestmit, CoinCola, and Paxful to ensure your transaction is safe and legitimate.
- Check Seller Ratings: On peer-to-peer platforms, always check the seller’s ratings and reviews before entering a trade to ensure a history of successful and honest transactions.
- Use Escrow Services: Platforms like Paxful and CoinCola offer escrow services that hold the Bitcoin until the transaction is complete. This protects both the buyer and the seller.
- Enable Two-Factor Authentication (2FA): For added security, enable 2FA on your account to prevent unauthorized access to your wallet or account.
FAQs
1. Can I convert a Steam gift card to Bitcoin instantly?
Yes, once the gift card is verified, the process usually takes just a few minutes, though the exact time can vary depending on the platform and the verification process.
2. Is it safe to convert Steam gift cards to Bitcoin?
Yes, using reputable platforms with built-in security features like escrow and 2FA is safe.
3. Do I need a Bitcoin wallet to complete the conversion?
Yes, you’ll need a Bitcoin wallet to receive the Bitcoin after the conversion is complete. Most platforms offer wallets, or you can use an external one.
4. Can I convert other gift cards to Bitcoin?
Many platforms that accept Steam gift cards also allow you to trade other types of gift cards, such as Amazon, iTunes, and Google Play cards, for Bitcoin.
Read Also: How to Activate Steam Wallet Gift Card
Conclusion
Converting your Steam gift card to Bitcoin is a smart way to turn unused or extra gift cards into a more valuable asset.
With trusted platforms like Prestmit, CoinCola, and Paxful offering fast and secure transactions, you can easily switch from gift cards to cryptocurrency.
Follow safety protocols, check rates, and use reliable services to ensure a smooth and hassle-free conversion.
Bitcoin provides many uses and opportunities, making it a great alternative to holding onto unused gift cards.