How To Buy Crypto With Gift Cards: A Step-by-Step Guide

Editorial Note: While we adhere to strict Editorial Integrity, this post may contain references to products from our partners. Here's an explanation for How We Make Money. None of the data and information on this webpage constitutes investment advice according to our Disclaimer.

How to buy crypto with gift card:

Step 1. Choose a reliable platform

Step 2. Select your gift card type

Step 3. Create an account on the platform

Step 4. Deposit gift card details

Step 5. Complete the purchase

Step 6. Transfer crypto to your wallet

Cryptocurrency is no longer just a niche investment — it’s now a global phenomenon. But not everyone wants to use traditional payment methods like credit cards or bank transfers to buy crypto. Gift cards have emerged as a flexible, accessible, and private way to enter the crypto market. This guide will show you how to buy crypto with gift cards, complete with real-world tips and a step-by-step process.

How to buy crypto with gift card

Choose a reliable platform

The first step is finding a trustworthy platform that allows you to use gift cards for purchasing cryptocurrency. Popular options include Paxful, Bitrefill, and LocalBitcoins. When evaluating a platform, consider the following:

User reviews. Check feedback from other users to ensure the platform is reputable.
Fees. Compare transaction and conversion fees to avoid overpaying.
Supported cryptocurrencies. Ensure the platform offers the cryptocurrency you want to buy (e.g., Bitcoin, Ethereum).
Security measures. Look for platforms with strong security protocols, such as two-factor authentication (2FA).

Select your gift card type

Determine which gift card you plan to use. Commonly accepted options include Visa and Mastercard prepaid cards, Amazon gift cards, or retailer-specific gift cards. Verify that your chosen platform accepts the type of gift card you have. Some platforms also accept gaming cards like Steam or Google Play, but availability varies.

Create an account on the platform

Provide your email address and create a password.
Verify your identity (KYC verification) by submitting a government-issued ID if required.
Set up a secure wallet to receive your cryptocurrency. This could be an internal wallet provided by the platform or an external one.

Deposit gift card details

Once your account is set up, go to the deposit or gift card section on the platform. Enter the details of your gift card:

For digital cards. Input the card number and PIN/code.
For physical cards. Upload a clear image of the card and receipt if requested. The platform may verify the authenticity of the gift card before proceeding.

Complete the purchase

After the gift card is verified, you can use it to purchase cryptocurrency. Follow these steps:

Select the cryptocurrency you wish to buy (e.g., Bitcoin, Ethereum).
Enter the amount of crypto you want to purchase based on the balance of your gift card.
Review the exchange rate and fees before confirming the transaction.
Confirm the purchase, and the cryptocurrency will be deposited into your platform wallet.

Transfer crypto to your wallet

For enhanced security, transfer your purchased cryptocurrency to a private wallet outside the platform. This could be a hardware wallet like Ledger or a software wallet such as MetaMask or Trust Wallet.

Obtain your wallet address and initiate a transfer from the platform.
Double-check the wallet address to avoid mistakes, as crypto transactions are irreversible.

Top gift cards for buying crypto

For those unaware of popular methods, we have prepared a list of top gift cards commonly used to buy crypto, along with their main features and advantages:

Amazon gift card
Amazon Gift Cards
Amazon gift cards are commonly used for crypto transactions. Many platforms accept them, allowing people to exchange for Bitcoin and other digital currencies.
Advantages. Easy to acquire, often given as gifts, and can be used for transactions in varying amounts.
Why choose it? Amazon Gift Cards are ideal for users looking for quick and flexible transactions, especially since they are widely available.
iTunes gift card
iTunes Gift card
Originally designed for Apple services, iTunes Gift Cards have become a common option for crypto trades on many platforms. Their popularity stems from their digital nature and ease of transfer.
Advantages. Simple to use, highly liquid, and often sold at a discount.
Why choose it? Perfect for users already integrated into the Apple ecosystem who want a straightforward trading method.
Google play gift card
Google Play Gift Cards
Accepted on select platforms, Google Play Gift Cards are another popular option, especially among Android users. These cards can be easily purchased online or in physical stores.
Advantages. Readily available, easy to redeem, and suitable for small-to-medium transactions.
Why choose it? Ideal for Android users seeking a seamless way to purchase crypto.
Steam gift card
Steam Gift card
Originally intended for gaming purchases, these gift cards have now found use in crypto trading. They are accepted by popular services in the crypto space.
Advantages. High liquidity and strong demand among gamers make these cards easy to trade.
Why choose it? Great for gamers who wish to leverage their Steam credits for cryptocurrency purchases.
Walmart gift card
Walmart Gift Cards
Walmart gift cards are a great option for crypto purchases or for purchasing other supported gift cards. Many platforms accept them due to their wide availability and reliability.
Advantages. Reliable and easy to use, with flexible transaction options for varying amounts.
Why choose it? Ideal for individuals who frequently shop at Walmart and want to utilize excess balances for crypto.
eBay gift card
eBay Gift Cards
eBay gift cards are often used to buy crypto on platforms that support trading or other supported gift cards. Their popularity comes from easy access and the fact that they are sometimes available at a lower price.
Advantages. Frequently sold at discounted rates, making them attractive for arbitrage opportunities.
Why choose it? Perfect for bargain hunters looking to maximize their crypto purchases.
Best Buy gift card
Best Buy Gift Cards
Best Buy Gift Cards can be used on some exchanges for cryptocurrency transactions. These cards are widely recognized and trusted.
Advantages. Easy to acquire from physical or online stores, with straightforward usage.
Why choose it? Suitable for individuals who frequently shop for electronics and want to convert unused balances into crypto.
Target gift card
Target Gift Cards
Target gift cards can also be used to purchase other gift cards that are supported on crypto trading platforms. They are a reliable choice for users looking to convert their balances into Bitcoin or other digital currencies.
Advantages Readily available at Target stores or online, with user-friendly redemption processes.
Why choose it? Ideal for individuals familiar with Target’s ecosystem and seeking a simple way to enter the crypto market.

Platforms supporting related methods

Apart from gift cards, related methods include Apple pay and Google pay. Below are the top platforms supporting deposits from these methods:

Best crypto exchanges
	OKX	Kraken	Crypto.com	CoinMetro	Ledger Wallet
Apple Pay
Google Pay
Coins Supported	329	278	250	72	1817
Min. Deposit, $	10	10	1	1
Spot leverage	1:10	1:5	1:3	1:5
Spot Maker Fee, %	0,08	0,25	0,25	0,1	0
Spot Taker fee, %	0,1	0,4	0,5	0,2	0
Deposit fee, %
Withdrawal fee, %	0,0004 BTC 2,6 USDT	0,0005 BTC	0,0005 BTC	0-0,1%
Foundation year	2017	2011	2016	2018	2004
Open an account	Open an account Your capital is at risk.	Open an account Your capital is at risk.	Open an account Your capital is at risk.	Open an account Your capital is at risk.	Open an account Your capital is at risk.

Pros and cons of buying crypto with gift cards

A simple way to start. Gift cards are easy to buy and use, making them a great option for beginners who aren’t familiar with more complicated payment methods.
Skip the bank details. You don’t need a bank account to use gift cards, which gives you more privacy and flexibility, especially if you want to keep your transactions anonymous.
Easy to get started. Gift cards are sold everywhere, so you can buy crypto with little hassle and without needing to make a huge initial investment.
Save a little money. Some platforms offer discounts or bonuses when you buy gift cards, which can help you get more crypto for your money.

Extra costs involved. Buying crypto with gift cards typically comes with higher fees compared to other payment methods. Some platforms charge more for converting gift cards to crypto, eating into your returns.
Fewer platforms accept gift cards. Not every crypto exchange allows gift cards as a payment method, and the ones that do may not offer the broad selection of cryptocurrencies you want, limiting your trading options.
Risk of being scammed. Gift card transactions can leave you vulnerable to fraud. Scammers often exploit the anonymity and irreversibility of these transactions, and you could lose your money with no way to get it back.
Gift card value changes. The value of your gift card can fluctuate based on market conditions. You could end up paying more for crypto than you planned if the value of the gift card decreases between purchase and trade.

What traders should consider

Start small. Test the process with a small amount before committing larger sums.
Research platforms. Choose well-reviewed, verified platforms to minimize risks.
Understand wallet security. Learn how to use private wallets to safeguard your assets.
Be free-savvy. Compare transaction fees to avoid hidden costs.
Diversify platforms. Use multiple platforms to spread risk and increase access to discounts.
Monitor exchange rates. Keep an eye on fluctuating rates for optimal conversions.
Explore arbitrage. Buy discounted gift cards and convert them into crypto for potential profits.
Use secure wallets. Advanced traders handling larger sums should prioritize hardware wallets for maximum security.

How much can I earn?

Gift card arbitrage involves buying discounted gift cards and using them to purchase crypto at full value. For instance, purchasing a $100 gift card for $90 and converting it into Bitcoin gives you an instant $10 margin.

Factors influencing profits

Price swings. The value of cryptocurrencies can change quickly. A gift card’s value might not match the market rate when you convert it, which affects your returns.
Platform fees. Different platforms charge different fees for buying crypto with gift cards. Smaller fees can boost profits, so it’s smart to check your options before you buy.
Buying at a lower price. Sometimes, you can get gift cards at a discount. If you buy a card for less than its face value, you make an instant gain when converting it to crypto.
How easy the card is to use. Not all gift cards are accepted everywhere. Using platforms that accept a wide range of gift cards can lead to better opportunities for profits.

Risks and warnings

Platform scams. Stick to verified platforms to avoid fraudulent schemes.
Misuse of gift card codes. Ensure codes are legitimate to avoid transaction rejections.
Legal issues. Avoid stolen or unauthorized gift cards to prevent account bans or legal troubles.
Tax implications. Be aware of local tax laws regarding crypto purchases.

Make sure the platform uses secure payment methods and has 2FA

When using gift cards to buy crypto, beginners often forget to check the platform’s security measures. While many claim to be secure, not all offer the same level of fraud protection or user verification. Always make sure the platform uses secure payment methods and has two-step verification (2FA). This extra layer of security is crucial, especially with gift cards, which are more vulnerable to fraud. Also, never share your gift card details with people or sellers you don’t trust — always use a reliable middleman for transactions.

Another key tip is to know the conversion rates when using gift cards. Some platforms might give you a worse rate for gift cards compared to other payment methods, which means you could get less crypto than expected. Take the time to compare rates and make sure you’re getting a fair deal. Don’t rush into transactions without knowing exactly how much crypto you’re getting for your gift card.

Conclusion

Buying crypto with gift cards is a flexible, secure, and convenient method for both beginners and advanced traders. By following this guide, you can enter the crypto market with confidence and make informed decisions about platforms, fees, and security. Whether you’re looking to utilize idle gift cards or explore arbitrage opportunities, the possibilities are endless.

FAQs

Can I buy bitcoin with an amazon gift card?

Yes, you can buy bitcoin with an Amazon gift card on certain platforms. The process typically involves selecting Amazon as your payment method, entering the gift card details, and trading for bitcoin. Ensure you are trading with a verified and trustworthy seller.

How can I ensure I'm getting a fair exchange rate when buying crypto with gift cards?

A common mistake people make is not realizing that gift cards often come with worse exchange rates compared to other payment methods. This happens because they can be prone to fraud or liquidity issues. To avoid getting a bad deal, always compare prices across a few places and look for platforms with clear, upfront fees.

Is it safe to use gift cards for crypto transactions?

Yes, using gift cards for crypto transactions is safe if you use verified platforms and follow best practices. Be cautious of scams, check seller ratings, and avoid sharing sensitive information outside the platform.

Are there hidden fees?

Some platforms may charge additional fees for gift card transactions, such as higher exchange rates or processing fees. Always review the platform’s fee structure and confirm the total cost before proceeding.

Team that worked on the article

Oleg Tkachenko is an economic analyst and risk manager having more than 14 years of experience in working with systemically important banks, investment companies, and analytical platforms. He has been a Traders Union analyst since 2018. His primary specialties are analysis and prediction of price tendencies in the Forex, stock, commodity, and cryptocurrency markets, as well as the development of trading strategies and individual risk management systems. He also analyzes nonstandard investing markets and studies trading psychology.

Also, Oleg became a member of the National Union of Journalists of Ukraine (membership card No. 4575, international certificate UKR4494).

Learn about our editorial policies

Chinmay Soni is a financial analyst with more than 5 years of experience in working with stocks, Forex, derivatives, and other assets. As a founder of a boutique research firm and an active researcher, he covers various industries and fields, providing insights backed by statistical data. He is also an educator in the field of finance and technology.

As an author for Traders Union, he contributes his deep analytical insights on various topics, taking into account various aspects.

Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).

Leverage

Forex leverage is a tool enabling traders to control larger positions with a relatively small amount of capital, amplifying potential profits and losses based on the chosen leverage ratio.

Bitcoin

Bitcoin is a decentralized digital cryptocurrency that was created in 2009 by an anonymous individual or group using the pseudonym Satoshi Nakamoto. It operates on a technology called blockchain, which is a distributed ledger that records all transactions across a network of computers.

Ethereum

Ethereum is a decentralized blockchain platform and cryptocurrency that was proposed by Vitalik Buterin in late 2013 and development began in early 2014. It was designed as a versatile platform for creating decentralized applications (DApps) and smart contracts.

Risk Management

Risk management is a risk management model that involves controlling potential losses while maximizing profits. The main risk management tools are stop loss, take profit, calculation of position volume taking into account leverage and pip value.

Extra

Xetra is a German Stock Exchange trading system that the Frankfurt Stock Exchange operates. Deutsche Börse is the parent company of the Frankfurt Stock Exchange.