There is no general exchange value of Gift cards to naira in Nigeria. How much a gift card will be sold or bought for will depend on the type of gift card e.g iTunes, Google Play, Amazon, Sephora, etc., and the currency with which the card was loaded. The cost of Gift cards in Nigeria also varies in line with the present naira-to-dollar exchange rate.
The best way to find out how much a gift card is worth in Nigerian naira is to identify an exchange platform available to Nigerians, and then use their rate calculator to identify your gift card prices. In this light, you can use the SnappyExchange rate calculator to find out the price of your gift card in Naira.
But, If that is sounding like a hassle for you, then it is a good thing you are here. In this post, we will look at the current Naira value of various gift cards and where you can trade them for the best rates.
Quickly before that, it is ideal to first know what influences the rate of gift cards in Nigeria
What Determines The Rate of Gift Card in Nigeria?
As implied earlier, Gift card rates are never stable and are always subject to change. So, if you can know the naira value of your gift card today, it could plunge or spike in the coming weeks.
In other words, it is not enough to rely on what a blog says about the naira value of a particular gift card. You should know the factors that can make that value change, and how to constantly view the current rate of the market.
This article will expose you to all these. But first, what affects the value of your gift card when transacting it with Nigerian naira?
The type of Gift Card
It may surprise you to know that physical gift cards trade at a higher rate than digital gift cards. So, you need to consider this before trading your card because it would influence the rate. These two modes of cards do not trade at equal rates.
Also, some gift card types trade at higher rates than others (more on this will be revealed shortly)
The currency of the card
Just as how different currencies have varying values when changed to Naira, they maintain such differences when used to load money in a gift card.
For example, gift cards that are loaded with USD balance would usually have lesser rates than gift cards loaded with GBP currency.
The exchange rate
Relative to the currency of the card a factor that influences the value of gift cards in Nigeria is the exchange rate. If the naira-dollar exchange rate is not favorable, you can expect to find unfavorable rates on most exchange platforms.
It is no news that the exchange rate fluctuates. Hence, the rate for every gift card at every time will not be stable.
General demand and supply
The general demand and supply of gift cards in the Nigerian vendor business climate can determine what rate you’d get your gift card.
The exchange platform you use for buying or selling gift cards can also play a part in the naira value of the card.
Various Gift Cards and their Exchange Value in Naira
Now that you know all the intricacies behind the value of gift cards in Nigeria, let’s dive into the various common gift card transacted by Nigerians and their current naira exchange value, using one of the best, reliable, and trusted rate calculators – SnappyExchnage (we will also compare with rates of other exchanges as well)
Apple iTunes Gift Card
iTunes gift cards can be exchanged for both cash and cryptocurrencies. For the latter, it is possible to incur 83% of the gift card value after the change. iTunes gift cards come in various currencies since most traders submit for the UK and the US Apple iTunes gift cards, we’ll focus on that.
On SnappyExchnage – one of the best Nigerian exchange platforms for gift cards – the UK Apple iTunes gift card is traded at N240 per GBP (E-code) while physical cards are sold for N330 per GBP.
However, on other platforms like Giftcard hub, the UK iTunes physical card trades at 220.29 Naira per GBP. On the Cardtonic, you will trade the iTunes card at 180 Naira per Dollar for E-code cards and 225 Naira per Dollar for Physical cards.
eBay Gift Card
eBay is another popular gift card used by many Nigerians either for business or for buying things on the eBay eCommerce store.
On SnappyExchange, the eBay gift card trades for N380 per Dollar. On other exchanges like Giftcardhub, the US eBay E-code card is traded at N300 per. If the range is within $25 to $75, platforms like Astro Africa trades at a rate of N240 per Dollar.
Amazon US Gift Card
Whether it is to purchase Amazon videos, Kindle products, and online music, Amazon gift cards are widely used by Nigerians. However, there are some of these cardholders who want to sell or buy more.
On SnappyExchange, the USA Amazon Cash Receipt gift card is traded at a rate of N420 per Dollar, while No-receipt is traded at N330 per dollar.
Google Play Gift Card
If you have a Google Play store gift card, there are many things you could do with the card. Aside from selling it, you can purchase movies, applications, games, TV shows, and others.
If you want to sell or buy, you can get Google Play cards on SnappyExchange at the rate of N340 per Dollar for the physical card. However, e-code is traded at N390 per Dollar.
Meanwhile, the Cardtonic platform trades the US physical card for N325 per Dollar, a little beyond that of Astro Africa trades – N300 per Dollar.
AMEX gift card
American Express Gift Card is traded at friendly rates but you’ll get better exchange value when you deal with $300 and upwards worth of the American Express card.
Well, on SnappyExchange, you can trade the card at the rate of N390 per Dollar, while on Astro Africa, the US AMEX physical debit receipt card is traded at the rate of N260 per Dollar.
Steam Gift Card
On SnappyExchange, the UK Steam gift card is traded at N540 Naira for 1 GBP, and the US Steam gift card is traded at N490 for 1 Dollar. There are other variations like that of Canada and Australia but UK Steam gift cards and US Steam gift cards (E-code and physical) are the most common.
Sephora Gift Card
In Nigeria, Sephora gift cards offer a high value of resale. SnappyExchange trades this gift card at the rate of N370 per Dollar. Whereas, on GiftCardhub, the Sephora gift card is traded at N350 per Dollar
In this detailed review, I’ve explained where you can get the best rate for selling or buying Sephora gift cards in Nigeria and how to go about it.
Macy’s Gift Card
Macy’s company deals with fashion products and due to the unavailability of outlets in Nigeria, those who have Macy’s gift cards can only sell.
For this reason, gift card is well known in Nigeria and has high rates. On SnappyExchange, the Macy’s gift card is sold at the rate of N350 per Dollar.
If the gift card you have is not among the above list, you can visit the rate calculator page of SnappyExchange HERE, to find out the current naira exchange value for any gift card in Nigeria today.
Why Choose SnappyExchange to Trade Your Gift Card in Nigeria?
If you pay attention to the rates of the various gift cards as analyzed above, you’d realize that some exchange platforms do it better than others in terms of favorable rates for buyers and sellers of gift cards.
SnappyExchnage is seemingly the best gift card trading platform, especially when you prioritized the best trading rates. It is also a good thing that the website has a rate calculator feature that allows you to know the current rate no matter how often it changes.
Another reason why you’d want to choose SnappyExchange to trade your gift card in Nigeria is the user interface that is easy to use and has impressive comfort during navigation. They are also fully registered with the Corporate Affairs Commission of Nigeria.
Meanwhile, unlike most shady online exchanges, SnappyExchnage boast of a standby customer service team that is available 24/7 to compliment your trading processes which have so far brought them to the forefront in the business in the area of efficiency, trustworthiness, security, fast payment, reliability, and sweet rate.
So far, we have looked at the various common gift cards transacted in Nigeria and their current naira exchange value in the market. In addition, we have explored the main factors that may make the value of a particular gift card change from time to time.
Due to this volatility, it is more important to have access to a readily available rate calculator that allows you to see the current rate of your gift card at that particular time. This is where the SnappyExchange rate calculator feature comes in.
The main reason why people look for ‘how much is gift card in Nigeria’ is either because they want to sell or they want to buy a gift card but with the fear of being cheated as against the current market value.
So, I encourage you to read my recent guide on how to sell or buy gift cards in Nigeria HERE to avoid being shortchanged by scrupulous vendors.