When it comes to technological evolution, one major field of focus is Fintech. And Fintech covers a wide range of digital assets. One medium of digital transactions that is profound is Gift cards.
Gift cards are tokens that can be exchanged for a specific cash value or goods and services mostly as gifts from one person to another. It is becoming a means of trade, especially for unused or unwanted cards.
Therefore, if you have a collection of unused gift cards gathering dust in your drawer, or you simply want to explore a lucrative avenue to make some extra cash, you’ve come to the right place. Noones provides a convenient and secure platform for individuals like you to sell their gift cards and turn them into real money or exchange them for more desirable options.
In this post, we will walk you through the step-by-step process of selling your gift cards on Noones, offering valuable tips and insights to help you maximize your profits and make the most out of this exciting opportunity.
What is Noones?
Noones is an awesome financial communication super app that’s all about empowerment. It connects people to the global conversation through chat and also links them to the world’s financial system for payments. Users can have the freedom to message anyone, trade different payment methods on the app’s marketplace, and easily make peer-to-peer payments.
Easy Steps to Sell Gift Cards on Noones
Since Noones operates as a peer-to-peer platform for cryptocurrency exchange, the process of selling gift cards also involves exchanging your cards for cryptocurrency. When you list your gift card for sale, the buyer will make the payment using cryptocurrencies like Bitcoin, Ethereum, USTD, etc. This essentially means that you’re swapping your gift card for digital currencies, such as Bitcoin, within the exchange system. To gain a clearer understanding of this process, let’s take a closer look at how it works:
Step 1: Create Your Account by Signing-up on Noones
- To begin, launch the Noones website or app and Access the Login Page
- Then open the app on your device and navigate to the login page.
- On the login page, locate the “Sign up now” option at the bottom.
- A citizen’s code will be displayed for you to click before proceeding to sign up. Once done, enter your email address or phone number.
- You will receive a confirmation code via email or SMS. Input the confirmation code you received.
- And set a password for your Noones account. After which you’ll confirm the entered details and proceed to create your account.
Step 2: Prepare for your Trade with Gift Cards
Before you dive into trading, consider these essential points:
- Personal Ownership: Ensure that the gift cards you plan to sell are personally owned by you. It’s against the rules on Noones to buy and sell gift cards from other people on the platform.
- Check the Balance: Before starting any trade, make sure there’s a sufficient balance on your gift card. Sellers will expect the full value of the card during the transaction.
Step 3: Find an Offer
The first step is to search for an offer that accepts your specific type of gift card. You’ll also need to specify the amount of cryptocurrency you wish to purchase and your preferred currency.
Once you find a suitable offer, check the terms and conditions carefully before initiating the trade. Pay attention to any requirements, such as providing a receipt or using physical cards only.
Step 4: Create Your Offer
- Log in to your Noones account and click on “Create an Offer.”
- Tip: If you’re using the mobile application, click on the marketplace icon and then select “Create an Offer.”
- Choose the type of cryptocurrency you want to buy and click on “Buy.”
- Select the payment method you prefer to use for the transaction. If you want to use the new Gift Card Hub feature, choose “Automated Trade” after selecting your desired gift card type. You can specify whether it’s a physical card or an e-card and enter the card details.
- From the drop-down list, choose the preferred currency in which you want to conduct the trade. Note that only one currency per offer is allowed, and available currencies may vary depending on the payment method you select. This limitation is in place to prevent incorrect trades.
- For bank transfers, it’s essential to provide the bank name and the country where your bank account is registered. This helps avoid misunderstandings with your potential trade partners.
- Double-check all the details you’ve entered, ensuring they are correct, and click “Next step” to proceed to the next stage of the process.
- If you can’t find an offer that suits your needs, don’t worry! You can also create your offer to buy cryptocurrency with gift cards.
- When creating your offer, consider setting a profitable margin for yourself as negotiations are not allowed during the trade. Write clear and concise offer terms and instructions to guide your trade partner.
Step 5: Set the Trade Price
In this step, you have the option to choose between two pricing methods: “Market price” or “Fixed price.”
- Decide how much profit you want to make on each purchase by setting the margin percentage. This percentage is based on the market price of the cryptocurrency and your personal trading goals. It can be positive or negative, depending on your strategy. Remember not to set an extremely low or high margin to attract customers and negotiate the price during the trade, as this goes against Noones’s Terms of Service.
- Set trade limits for the offer by specifying the minimum and maximum amounts of cryptocurrency you want to buy. You can either set a range or choose to use an exact amount. Once the trade begins, the equivalent trade value in BTC will be moved into escrow.
- Determine the time limit for the offer by entering a number in the minutes field. This indicates the duration within which your trade partner must make the payment. If the “Paid” button isn’t clicked before the payment window expires, the trade will be automatically cancelled.
- Carefully review all the information you’ve provided in this step and click “Next step” to proceed.
Step 6: Add Trade Instructions
- Choose relevant offer tags from the drop-down list. These tags will appear near the payment method name in the list of offers and help personalize your offer and provide additional information. For instance, you can use tags like “All bank transfers,” “Instant payment,” or “Long-term buyer needed.”
- In the “Offer terms for the seller” field, write short and clear instructions that will be shown publicly in your offer. Include any specific requirements you have, such as requesting a seller’s photo ID or needing additional documents. Be explicit about how you prefer the payment method to be processed and if you require extra time for payment processing.
- In the “Trade instructions” field, provide a step-by-step guide for your potential trade partner. This will be visible once the trade begins, ensuring a smooth and efficient transaction.
- If you want to trade only with verified users, select the “Verification” checkbox. However, keep in mind that this may reduce the number of potential trades, as some users prefer to maintain privacy online.
- Additionally, you can explore “Advanced options” for further settings, such as targeting specific countries, limiting visibility to trusted users, setting a minimum number of trades required, specifying a fiat limit for new accounts, or applying restrictions based on countries or Proxy/VPN usage.
- Review all the details you’ve provided in this step and ensure they are accurate. Click on “Create offer” to proceed with creating your offer.
Once your offer is created, you can find and manage it on your dashboard under the “My Offers” tab. Now, all that’s left is to wait for sellers to start trades with you.
Remember to always check Noones’s Terms of Service and follow the tips for writing good offer terms. Keep your descriptions short and to the point, and avoid suggesting off-escrow trading or sharing personal contact information in your offer terms. Writing clear and concise offer terms will enhance your chances of successful and secure trades on Noones.
Step 7: Complete the Trade
Now that your offer is live, all you need to do is wait for potential sellers to initiate trades with you.
- Once a seller starts a trade, carefully follow the trade instructions they provide. Communication is key, so feel free to discuss any necessary details with your trade partner before proceeding further.
- When you’re ready to make the payment, ensure you’ve adhered to all the seller’s requirements, including providing any necessary proofs or receipts. Once the payment is made, click the “Paid” button to confirm that you’ve completed the transaction.
- Keep in mind that clicking “Paid” is crucial, as it confirms your payment and prevents the trade from expiring. If you forget to do so, the trade will be automatically cancelled, and the cryptocurrency will be returned to the seller’s wallet.
The final step is for the seller to confirm the payment. Be patient during this process, as it may take some time. Once the seller verifies the payment, they should release the cryptocurrency to you, and the trade will be completed successfully.
After the trade is completed, you have the opportunity to leave feedback for your trade partner. Providing appropriate feedback helps other users on the platform and contributes to a reliable and trustworthy trading community.
Moreover, if you had a positive experience and would like to trade with the same user again in the future, you can add them to your trusted list. This makes future trades with trusted partners more efficient and secure.
Read Also: How to Sell Gift Cards on Square
Limitations of Selling Gift Cards on Noones
Noones has created a system and marketplace for those selling gift cards in exchange for cryptocurrency. But as much as there are opportunities in trading your gift cards, there are also challenges and limitations you might face in the process. Let’s look at some so we can know how to navigate to mitigate or at least reduce your risk on the platform.
1. Liquidity Issues
Selling gift cards on Noones can present some hurdles that you should be aware of. One major challenge is the liquidity issue. Finding buyers willing to exchange their gift cards for cryptocurrencies might not always be straightforward. Certain types of gift cards may have limited demand, leading to longer waiting times or the need to offer them at a discounted price, which could reduce the overall value of your gift card.
Moreover, the gift card market’s limited liquidity can impact the selling price of your cards on Noones. When there are fewer buyers available, you might have to lower your asking price to attract potential buyers. This adjustment could potentially decrease your profitability and result in financial losses for you.
2. Unpredictable Nature of Cryptocurrency Exchange Rates
Another concern is the unpredictable nature of cryptocurrency exchange rates, like Bitcoin or Ethereum. The value of cryptocurrencies fluctuates regularly, and these fluctuations can directly affect the redemption value of gift cards on Noones. As a result, you might face considerable variations in exchange rates during the time it takes to sell your gift cards and receive payment. This volatility introduces an element of risk and uncertainty into the selling process.
Additionally, delayed payment settlements can be an issue for sellers on Noones. There might be instances where your payments are not processed within the expected timeframe, causing financial inconvenience. Timely payment settlements are crucial for maintaining trust and ensuring a smooth selling experience.
3. Oversaturated Population of Sellers
The increasing popularity of gift card sales on Noones has led to a rise in the number of sellers, resulting in high competition among them. As an individual seller, it can be challenging to attract buyers and maintain profitability in such a crowded marketplace. You may need to adjust your pricing strategies and offer additional incentives to stand out from the competition, potentially impacting your profit margins and requiring more effort to secure buyers.
Given these inherent challenges, it’s essential to be cautious and find ways to mitigate risks during the selling process. Exploring other alternative platforms and checking for trading options with fewer constraints could be beneficial. While Noones provides a valuable platform for gift card sales, considering other options will help you make informed decisions and navigate the complexities of the market effectively.
An Alternative Platform to Sell Gift Cards in Nigeria.
If you’re looking for a fantastic alternative to make the most out of your gift cards, SnappyExchange is the perfect solution for you. It’s a reliable platform that offers both Gift cards and Cryptocurrency exchanges, providing a seamless way for people in Nigeria to sell their gift cards for cash or cryptocurrencies. With SnappyExchange, you can experience the magic of hassle-free and rewarding trading.
How to Sell Gift Cards on SnappyExchange
- To get started selling your gift cards on SnappyExchange, simply visit our website or download the SnappyExchange App and create an account.
- Once signed in, navigate to the ‘SELL GIFT CARDS’ section. There, you’ll find an array of gift cards available, including popular options like Visa cards, Steam gift cards, Amazon gift cards, and more.
- Select the specific gift card you want to sell, then indicate the country the gift card is from.
- Next, choose whether it’s a physical card or an e-code and enter the value or amount you wish to sell (starting from US$20 and above).
- Once you submit your card details, you’ll be prompted to upload an image of the card.
- Within 2-10 minutes, your cash will be credited to your SnappyExchange wallet, ready for withdrawal to your bank account.
Why Choose SnappyExchange?
- Unbeatable Rates: SnappyExchange offers exceptional rates that you won’t find anywhere else. Our highly competitive prices will leave you eager to trade more.
- Lightning-Fast Payments: We understand the importance of swift transactions. With SnappyExchange, you can count on a payment system designed for speed and efficiency. Your orders will be processed promptly, ensuring you get your payment in no time.
- Customer Satisfaction: At SnappyExchange, we prioritize your satisfaction and ensure timely completion of transactions. Our dedicated support team is available 24/7 to assist you promptly should any issues arise.
- A Scam-Free Environment: With SnappyExchange, you can trade with peace of mind. We are fully registered with the Government and maintain a physical address, guaranteeing the safety of your trades and providing reliable support for any transaction disputes.
- A Wide Array of Gift Card Options: Our platform offers an extensive selection of gift cards for trading. Regardless of the type of Gift Card you possess, SnappyExchange welcomes a diverse range of options.
- Promo Codes & Trading Bonuses: As if that’s not enough, we sweeten the deal with exciting bonuses and rewards through our exclusive promo codes. Stay updated by following us on Instagram.
As seen in this post, we have explored the process of selling gift cards on Noones, a platform that has provided convenience and reliability to countless sellers. However, as the gift card market continues to evolve, it is crucial for sellers to remain adaptable and open to exploring alternative platforms that offer even greater benefits and opportunities.
One such platform that has emerged as a game-changer in the gift card-selling landscape is Snappy Exchange. With its user-friendly interface, secure transactions, and vast network of potential buyers, Snappy Exchange is revolutionizing the way gift cards are sold online. By choosing Snappy Exchange as your preferred selling platform, you can unlock a world of advantages, including faster transactions, competitive rates, and outstanding customer support.
So, if you are a seller looking to maximize your gift card selling experience, we encourage you to take the leap and join Snappy Exchange today!