With the ease and flexibility that gift cards provide in today’s digital world, personal and business transactions no longer need to be disrupted. In Nigeria, suppose you want to trade yours for cash, shop online, or stay updated with the latest trends in your area of interest, knowing its value is key.
With exchange rates constantly changing, different platform fees, and the risk of scams, figuring out how much your gift card is truly worth can be tricky.
In this article, I’ll break down the current market value of popular gift cards in Nigeria, recommend the best platforms for buying and selling, and give you tips to make sure you’re getting the best deal to help you confidently navigate the gift card market and enjoy seamless transactions.
What Gift Cards are available in Nigeria?
The following are some of the gift cards available in Nigeria:
- iTunes Gift Cards
- Amazon Gift Cards
- Google Play Gift Cards
- Steam Gift Cards
- Apple Gift Cards
- Xbox Gift Cards
- Razer Gold Gift Cards
- Vanilla Gift Cards
When you think of gift cards in Nigeria, these are the common options to choose from. Each type has its value, and understanding what’s available and how pricing works can help you maximize your card whenever you want to buy or sell it.
Their popularity makes them easier to redeem and use or sell for cash. They are great choices wherever you want to buy music, apps, or games, or even shop online. Their demand makes them valuable for users. Although, it’s advisable to check the current rates before you trade them.
Gift cards are country-specific. This means that they are issued in particular countries, like the U.S., U.K., or Canada, etc, and can be used to purchase goods or services from retailers in those regions.
Their value in Nigeria can vary depending on demand, exchange rates, and the popularity of the brands in those countries. For example, U.S. gift cards are the most valuable due to the high demand for U.S.-based stores and services.
What is The Current Value of Gift Cards in Nigeria?
The value of gift cards in Nigeria varies, depending on several factors. If you’re buying or selling, it’s important to understand that their worth isn’t fixed. Some factors influence them and they include the following:
1. Type of Gift Card
Not all gift cards hold the same value. Some brands are more in demand, making their cards more valuable. For example, Amazon, iTunes, and Steam gift cards have high resale values because they’re popular and versatile. On the other hand, niche gift cards like those for specific restaurants or stores may not fetch the same rate.
2. Denomination (Amount on the Card)
The amount loaded onto a gift card also affects its value. Usually, cards with higher amounts tend to have better exchange rates. For instance, a $100 gift card will be worth more per dollar than a $10 or $20 gift card when you sell it. Bulk trading often results in better deals.
3. Currency of the Gift Card
Gift cards are available in different currencies (USD, CAD, AUD, etc.), and the currency also influences their value. In Nigeria, USD-denominated gift cards generally have higher rates compared to cards in other currencies. This is due to the stronger global demand for USD.
4. Platform Exchange Rate
The value you get for your gift card depends on the platform where you buy or sell it. Each platform has a unique customer base and demand for certain types of gift cards, which impacts the rates they offer. For instance, cards in high demand, like Amazon or iTunes, tend to fetch better rates, while niche cards might offer less. Also, platforms differ in their business models, with some taking higher commissions, which affects how much you receive for your card.
Foreign exchange rates play a role too, especially if your gift card is in a foreign currency like USD. Platforms adjust for currency fluctuations, so the value of your card can change depending on the strength of the Naira against the foreign currency.
5. Supply and Demand
Just like any other market, supply and demand also affect the value of gift cards. If a particular card is in high demand, the value will increase. In turn, if certain types of cards flood the market, their value might drop. For example, during certain holiday seasons, demand for specific cards spikes, raising their value.
Considering all these factors mentioned above, when you wish to trade your gift card, choose a platform that offers you the most competitive rates.
Here’s a curated list of the prices of some of the most popular gift cards:
List of Gift Card Rates
Where Can You Sell Gift Cards in Nigeria?
If you wish to sell your gift card in Nigeria, there are several platforms available. However, the standout option is SnappyExchange, which has become the go-to platform for many users due to its excellent features, which include:
- High Rates
You get the best rates anywhere in Nigeria when you sell your gift card on SnappyExchange. You’re guaranteed great value for your card.
- User-Friendly Interface
The user interface on SnappyExchange is very easy to navigate. It doesn’t matter your level of knowledge with tech. This makes the selling process quick and easy.
- Real-Time Customer Service
The SnappyExchange customer support is available 24/7. You can rest assured that any questions you have will be addressed immediately.
- No Hidden Costs
There are no unpleasant surprises when you trade your gift card on SnappyExchange. The fees are transparent on the app. No hidden charges.
- Swift Payouts
When you trade your gift card on SnappyExchange, you get your payout within minutes.
Tips to Get the Best Deal while Trading Gift Cards in Nigeria
- Compare Rates
Gift card rates can vary due to factors like country and denomination. Use the rates calculator to know how much you’ll get from your trade.
- Trade in Bulk
When you sell higher denominations or multiple gift cards at once, it yields you better deals. Usually, platforms offer more favorable rates for bulk cards, so if possible, consider trading in bulk rather than smaller amounts.
- Stick to Popular Gift Cards
Gift cards from popular brands like Amazon, iTunes, Google Play, and Steam usually have higher demand and better rates in Nigeria. If you have different cards, prioritize selling those that are more in demand.
- Choose Platforms with No Hidden Fees
Some platforms may have hidden fees that reduce the amount you get. Always opt for a platform like SnappyExchange, where the rates are transparent and there are no hidden costs. This ensures you’re getting the full value of your card without unexpected deductions.
- Consider Currency Exchange Rates
If you have a gift card denominated in foreign currency (USD, EUR, GBP), pay attention to the current exchange rates. If you sell at the right time when the Naira is weak against these currencies can help you get a higher value for your card.
- Use Reliable Platforms with Fast Payouts
Ensure that the platform you choose is reputable and offers quick payouts. Real-time customer service, transparent processes, and no delays in payment will help you avoid unnecessary hassle and ensure a smooth transaction.
Frequently Asked Questions
Where Can I Sell My Gift Card in Nigeria?
You can sell your gift cards in Nigeria on SnappyExchange. It’s a trusted platform that guarantees swift payouts, making it the best place to sell your gift cards in Nigeria.
Do Gift Cards Expire?
Some gift cards expire while others don’t. Whenever you want to purchase one, make sure you find out about its validity period.
Conclusion
It is important to note that the value of gift cards in Nigeria is not constant due to constant changes in market trends.
If you want to get the best value and a smooth experience, SnappyExchange is the top choice based on its unbeatable rates, easy-to-use platform, responsive customer service, and full transparency with no hidden fees.
Go ahead and use our Rate Calculator today to confirm the best rates and start selling your card for high value.