Gift cards have become increasingly popular as a convenient and versatile present for various occasions. Whether you received a gift card that doesn’t align with your preferences or you simply want to convert it into cash, platforms like Remitano offer a seamless solution. In this article, we will guide you through the process of selling a gift card on Remitano, a trusted platform that connects buyers and sellers securely and efficiently.
What is Remitano?
Remitano is a reputable online marketplace that facilitates the exchange of gift cards for cryptocurrency. It provides a user-friendly platform where sellers can list their gift cards, connect with potential buyers, and complete transactions with ease. Remitano offers a seamless and efficient trading experience for traders across the globe. By leveraging their services, you can unlock the value of your unwanted gift cards while ensuring a safe and reliable selling experience.
Remitano provides a novel avenue for you to diversify your digital asset portfolio. Through the platform’s extensive network, individuals can seamlessly convert their unused gift cards into cryptocurrencies, offering a convenient and efficient way to enter the world of digital assets.
Furthermore, Remitano’s commitment to security is evident through its robust measures to protect users’ funds and information. Utilizing advanced encryption techniques and multi-factor authentication, Remitano ensures that your data remains confidential and transactions are conducted in a secure environment.
Steps to Sell Gift Cards on Remitano
Step 1: How to Set up an Account
To begin selling gift cards on Remitano, you need to create an account on the platform. This involves providing basic information and creating a secure password.
Once your account is set up, it’s essential to verify your identity to enhance security measures. This process typically requires submitting identification documents, such as a passport or driver’s license.
Additionally, enabling two-factor authentication will provide an extra layer of protection for your account.
Step 2: Choose the Right Gift Card to Sell
Not all gift cards hold equal demand in the market. Before listing your gift card on Remitano, it’s crucial to conduct thorough research on popular gift cards and analyze market trends.
Look for gift cards that are in high demand and offer competitive selling prices. Furthermore, consider the expiration dates of the gift cards you own, as buyers often prefer cards with longer expiration periods.
Step 3: How to Prepare Your Gift Card for Sale
Before listing your gift card, it’s essential to ensure it has a valid balance. Check the card balance by either contacting the gift card issuer or using the issuer’s online balance-checking tool.
Additionally, gather all the necessary card details, including the card number, PIN (if applicable), and any other information required by potential buyers. Lastly, make sure the gift card is in good condition, as buyers typically prefer cards without any physical damages or alterations.
Step 4: How to Create Ads
Selling directly from the Ads on the Gift card page allows you to conveniently trade your chosen coins.
Note: Ads are Advertisers who are P2P traders on the Remitano platform.
To create selling ads on Remitano, follow these simple steps:
- Start by visiting the homepage. Look for the options “Create Your Buying Ad” or “Create Your Selling Ad” and click on them. Choose the specific cryptocurrency you want to buy or sell. Remitano currently supports trading gift cards with seven coins, including Bitcoin, Ethereum, Litecoin, Ripple, Tether, Bitcoin Cash, and Binance Coin.
- Set your price preference. You have two options: Fixed price or Dynamic price. Fixed price This is the initial price you set for your ad, which remains constant regardless of market fluctuations. When you select Dynamic price, the coin price for your ad will be calculated based on the following formula: Actual gift card price = ethUSD price * Coin price at reference exchange. The price you pay will change according to the reference exchange rate.
- Once you’ve decided on your price preference, click the “Create new advertisement” button to proceed.
Note: Before finalizing your ad, you can click on “Preview” to see how it will appear when displayed. If you’re satisfied, click “Create new advertisement” to complete the process.
Step 5: The Selling Process
- After creating Ads with the Gift card as the preferred payment method. Start by clicking on the gift card section.
- Then select “Choose another coin” and pick the specific type of coin you wish to sell your gift card for from the available list of seven coins supported by Remitano.
- Next, search for the Ads that match your selling criteria and click on the desired Ad to initiate the selling process.
- Enter the number of coins you want to trade and click the Sell button to proceed.
- The Advertiser’s terms of trade will be displayed for you to review. Take your time to carefully read and understand the terms.
- Once you have thoroughly reviewed them, tick the box confirming that you have read and agree to the terms.
- Finally, click “I am ready to transfer money” to proceed with the transaction.
- To send the Gift card code (for e-code) or photo (for physical card), open a chat with the Advertiser. This will allow you to communicate and exchange the necessary information for completing the transaction.
- After you have received the payment, click on “I have received the payment” to confirm the transaction.
P.S. It’s important to note that you must confirm within the specified transaction time mentioned in the Ad content.
To provide feedback on your trading partner’s performance, rate them based on your level of satisfaction or displeasure, if any.
Step 6: How to Receive Payment into Your Bank Account from Remitano
After the buyer receives the gift card and confirms its validity, they will initiate the payment process through Remitano. As a seller, it’s essential to verify that the buyer has completed the payment before taking any further action.
Once the payment is confirmed, you can withdraw the funds from your Remitano account (converting the digital coin into cash equivalent), either to your bank account or through alternative withdrawal methods offered by the platform.
Read Also: Types of Gift Cards in Lebanon
Tips for Successful Gift Card Selling on Remitano
- How to Set the Price and Terms
Determining the right price for your gift card requires research and consideration. Evaluate the current market price for similar gift cards to set a competitive selling price.
Keep in mind that setting an attractive price may lead to a faster sale. In addition to the price, establish clear terms and conditions for the transaction, including preferred payment methods and any additional requirements you may have.
- Make the Right Selection of Buyer
When selecting a buyer for your gift card, choose the most suitable candidate based on factors such as reputation, transaction history, and buyer reviews. Confirm the transaction details, including the selling price, payment method, and delivery method.
As this will help in establishing agreed terms, before proceeding with the said transaction for seamless delivery of the gift card.
- Interacting with Potential Buyers
Once your gift card listing is live on Remitano, potential buyers may reach out to inquire about the card and negotiate prices. It’s crucial to respond promptly and professionally to these inquiries.
Engage in negotiations with potential buyers, considering their offers and finding a mutually beneficial price point. Throughout the communication process, prioritize trust and safety by verifying the legitimacy of the buyer and ensuring they adhere to Remitano’s guidelines.
- Try to Resolve Potential Issues
While Remitano strives to provide a secure marketplace, potential issues may arise during the gift card selling process. If you encounter fraudulent buyers or disputes, Remitano offers assistance in resolving such matters.
Report any suspicious activities to Remitano’s support team and provide them with all the necessary evidence for a swift resolution. Additionally, communication and transparency are key when addressing conflicts or disagreements with buyers.
Drawbacks of Selling Gift Cards on Remitano
Despite the widespread use of Remitano for gift card trading, there are several drawbacks associated with selling gift cards on its platform that you need to be aware of. Let’s explore these drawbacks in detail, shedding light on the potential risks and challenges faced by sellers on the platform.
1. Lack of Buyer Verification
Selling gift cards on Remitano comes with the inherent risk of dealing with unverified buyers. Unlike verified buyers who have undergone a thorough vetting process, unverified buyers pose a higher potential for fraudulent activities.
Without proper verification, you may encounter buyers with malicious intent, leading to financial loss or other undesirable consequences. Ensuring buyer verification is crucial for a secure transaction and to establish trust between you and the buyer.
2. Unpredictable Exchange Rates
The value of cryptocurrencies, such as Bitcoin or Ethereum, fluctuates regularly, directly impacting the redemption value of gift cards on Remitano. You may face significant variations in the exchange rates during the time it takes to sell your gift cards and receive payment.
These fluctuations can affect your profitability, with potential losses incurred if the exchange rate declines rapidly. Such unpredictability introduces an element of risk and uncertainty into the selling process.
3. Delayed Payment Settlements
Another drawback of selling gift cards on Remitano is the occurrence of delayed payment settlements. As a Seller, you may experience instances where your payments are not processed within the expected timeframe, leading to financial inconvenience.
The delay in receiving funds can disrupt financial plans and impact your ability to meet immediate obligations or invest in new opportunities. Timely payment settlements are crucial for maintaining sellers’ trust and ensuring a smooth selling experience.
4. Potential for Account Suspension
While using Remitano for gift card sales, sellers face the risk of having their accounts suspended due to policy violations. Account suspension, whether temporary or permanent, can be highly disruptive, resulting in the loss of access to funds and an interruption in the selling process.
You must navigate the platform’s policies and guidelines carefully to avoid unknowingly breaching them, thereby reducing the likelihood of account suspension and the associated risks.
5. High Competition Among Sellers
With the increasing popularity of gift card sales on Remitano, the number of sellers has also risen significantly. This surge in competition can pose challenges for you as an individual seller looking to attract buyers and maintain profitability.
Sellers must navigate a highly competitive marketplace, often needing to adjust their pricing strategies and offer additional incentives to stand out from the crowd. The intense competition may result in reduced profit margins and increased effort required to secure buyers.
6. Difficulty in Building a Loyal Customer Base
The nature of gift card sales on Remitano often presents you with challenges in building a loyal customer base. Repeat business and customer loyalty can be challenging to achieve due to the platform’s structure, where buyers and sellers are often anonymous and may not establish ongoing relationships.
As a seller, you must continuously attract new buyers, making it challenging to build a loyal customer base. Implementing effective customer retention strategies can help sellers overcome this drawback and foster long-term relationships with buyers.
With the inherent drawbacks or limitations one may encounter as a seller on Remitano, it is important to take cognizance of ways in mitigating and reducing the risk of a bad trade.
However, it is mostly advised that you also explore other alternative platforms and check if there are lesser trading constraints to give you favorable trade options.
An Alternative Platform to sell your Gift Cards
Talking about alternatives, one major platform for gift card trade and digital assets for cash equivalents is SnappyExchange. Delve into the world of digital asset trade, exploring smoothness and easy navigation to convert your gift cards to cash or Cryptocurrency within minutes on the SnappyExchange Platform.
What is SnappyExchange?
It is a Digital asset trading platform that deals with Gift Card and Cryptocurrency exchange. It is the leading exchange platform in Nigeria to comfortably trade your gift cards in exchange for Naira equivalent and other crypto coins. SnappyExchange has built a seamless trading platform for the sale of gift cards that makes your direct sale seem like a walk in the pack.
How to Sell Gift Cards on SnappyExchange
To trade and sell your gift cards on our platform just follow these DIY easy steps below:
- Visit the website or download the SnappyExchange App and register.
- After signing on, you can log in and click on ‘SELL GIFT CARDS’.
- On the Gift cards section, click on the Gift Card option among the various ones listed.
- Click on ‘SELECT COUNTRY’ to indicate the Country the Gift Card is from (e.g. USA, CAN, AUS).
- Then select the ‘CARD TYPE’, either physical or e-code.
- Add the value of the amount you want to sell, from US$20 and above (You will get the Naira equivalent of the amount you want to sell)
- Then Click on Submit and a box will be provided to upload a card image.
Once your Card is uploaded and submitted, in 2 – 10 mins your cash will hit your SnappyExchange wallet, and you can withdraw into your bank account.
There is a lot SnappyExchange offers when navigating their trading platform, that you may hardly obtain in other platforms. Let’s check out a few of them here:
1. Unbeatable Rates
Discover the extraordinary rates you won’t find anywhere else on SnappyExchange. We offer purchases at highly competitive prices that will leave you craving for more.
2. Lightning-Fast Payments
Experience a payment system that is designed to be swift and efficient. We understand the importance of quick delivery and rapid access to funds. Our orders are processed promptly and conveniently, ensuring you receive your payment in no time. When it comes to trading your Gift card for Naira and receiving instant payment, we’re second to none.
3. Customer Satisfaction at Its Core
At SnappyExchange, we prioritize customer satisfaction and the timely completion of transactions. Our dedicated system is built to ensure your needs are met with utmost care. Should any issues arise, our 24/7 real-time customer support team is readily available to assist you.
4. A Scam-Free Environment
Unlike other exchanges that operate without proper registration, Snappy Exchange is fully registered with the Government and boasts a physical address. We guarantee the safety of your trades and are always accessible to address any transaction disputes that may arise.
5. 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, you can sell a wide range of options. It’s time to start exploring our platform and discover the possibilities.
6. Promo Codes & Trading Bonuses
But wait, there’s more! We also provide trading bonuses and exciting gifts through our exclusive promo codes. To stay up to date with the latest offers, be sure to follow us on Instagram.
Selling gift cards on Remitano offers a straightforward and reliable method to convert unwanted cards into cash. By understanding the platform, selecting the right gift cards, preparing them properly, and effectively listing and interacting with potential buyers, you can navigate the process with confidence.
And always remember to conduct proper research to deal with gift card trades on any platform. Try as much as possible to explore Alternative Platforms, especially when experiencing drawbacks associated with your trading experience. Now, you can embrace the convenience and profitability of gift card selling, and unlock the value of your unused or unwanted gift cards today.