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How To Buy Bitcoin With A Gift Card

Buy Bitcoin With Gift Cards 2021 The Best Options Reviewed

How to Buy Gift Cards with Bitcoin! (2020)

I have noticed that since the past few years, exchange platforms have become super user-friendly. Buying bitcoins these days is like online shopping, just get on a website, choose the amount, pay, and start trading.

I was wondering if buying crypto is really like online shopping, will I be able to buy bitcoin with a gift card? Everyone loves a good, ol gift card, where you have a fixed spend amount, so you dont overindulge. Theyre excellent for gifting and save you the hassle of accessing your preferred payment method.

The biggest advantage of buying a gift card is that you have the freedom to choose. Well, with bitcoins offering such attractive returns, Ill choose to buy bitcoins with my gift cards any day.

Therefore, I researched more about the topic to learn whether I could really buy bitcoin with a gift card or convert gift cards to bitcoin to multiply my savings, and are gift cards a better option than bank transfer? I found some credible platfomrs that allow you to buy bitcoin with gift cards.

Let me guide you through.

How To Withdraw Bitcoin Earnings From A Crypto Exchange

There are two ways to withdraw your bitcoin earnings from cryptocurrency exchange in bitcoins and fiat currency. That is to say you can transfer your cryptocurrency to a crypto wallet or sell it and withdraw your earnings in your preferred fiat currency. If you are trading on a CFD trading platform and bought BTC through Contracts for Differences, you wont have the ability to withdraw BTC, as you actually dont own it. In this case, you can only sell them, get your money and withdraw your funds through any of the withdrawal methods accepted by the broker, such as bank cards, e-wallets, etc.

What you need to pay attention to in this process is mostly the withdrawal fees that the exchange charges and the speed of the transactions. There are usually different fees applied for various withdrawal methods. For comparison, bank card options typically charge higher fees, but you get your money quickly. Bank transfers take more time to be completed but are a more cost-effective method.

Apart from this method, several cryptocurrency exchanges will allow you to transfer your BTC directly into a crypto wallet. For this purpose, you need to create a crypto wallet or buy one which is a physical device. Then, you need to select the number of bitcoins you want to transfer and go on with the following steps to complete your transaction.

Coinbase Buy Bitcoin With A Dedit Card Quickly And Easily

Founded in 2012, Coinbase is one of the most popular cryptocurrency exchanges in the market, with more than 50 million users from several countries of the world. One reason for this is that Coinbase has a very easy-to-use interface which helps investors to easily and quickly buy bitcoin.

Coinbase has a bit of a complicated fee system. It does not charge buy-and-sell spreads but charges a commission fee, which is 1.49% of your trade. Apart from this, it also sets deposit and withdrawal fees which vary depending on the payment method. Coinbase has also launched its more simplified account Coinbase Pro, which offers lower prices but has limited options compared to Coinbase.

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Safety And Security When Buying Bitcoin With Prepaid Cards

As mentioned previously, when you buy bitcoin with a prepaid card, you provide less customer information to the platform where you are trading. In these terms, this method of buying cryptocurrencies is more secure than choosing a credit card or debit card option.

One great advantage is that its not connected with your bank accounts, which is significant in two ways. Firstly, when you trade, you wont have the ability to take debts after you deplete the balance on your prepaid card account. Secondly, when a third party gets access to your card, they can only use the amount left on the card but wont access your accounts.

However, when you trade with top brokers, its a very rare thing to be hacked. When recommending a brokerage account, security is one of the crucial factors we consider. We basically select brokers that use secure SSL protocols to keep your information safe and ensure your payment security.

What Are Gift Cards

Give the Gift of Bitcoin for Christmas

A gift card is a type of prepaid debit card issued by a brand or retailer loaded with a specific amount of money available for future purchases at retail stores, restaurants, services, and other locations. For instance, if you have a 50 USD Amazon gift card, you can buy up to 50 dollars worth of products from the Amazon store by the gift card instead of paying with a credit card or PayPal.

Gift cards are a convenient payment alternative when youd rather not pay cash or use a credit card to make purchases. Digital gift cards are designed for online use or over the phone. They can be added to mobile wallets to make purchases more secure.

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Getting A Crypto Offer For Your Gift Card

Some platforms are focusing on specific markets. Pamcoins, for instance, operates in Nigeria which has demonstrated heightened interest towards Bitcoin in the past year. The service helps users trade Amazon, Ebay, Steam, Google Play, and Apple gift cards for either Nigerian naira or BTC and ETH.

To do this, Nigerians have to contact Pamcoins on Whatsapp and specify the gift card they want to sell with its amount to get the current rate from an agent. After they upload the card, Pamcoins promises payment within minutes. Crypto Voucher works in a similar way, providing a global exchange platform for gift cards and cryptocurrencies. First you get an offer depending on the card and its balance. Once you provide the card and your personal details, the platform will email you a cryptocurrency voucher you can redeem for a choice of coins including BCH, BTC, ETH, and DASH.

Gift cards also provide an opportunity to spend your bitcoins with businesses that dont accept cryptocurrencies directly. If you are looking to purchase cards for major retailers with BCH and BTC, you can check out Bitcoin.com Stores Gift Cards section. The cards are sorted in multiple categories from Food, Clothing and Health, to Fuel & Auto and Sports & Outdoors. You can also send a gift card to a friend with a few clicks and a fast crypto transaction. The service is powered by Egifter, itself a platform providing cryptocurrency holders with access to hundreds of gift cards.

Instances That Count As Income Tax:

  • Crypto received from mining unless it is below £1,000
  • If you get your paycheck in crypto

On the Capital Gains Tax, you can still use losses to save on your gains. Also, you can sidestep your Capital Gains Tax if you earn less than £12,300 from your crypto dealings and £6,150 for trusts. This is called the Capital Gains tax-free allowance.

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Is It Safe To Buy Bitcoins With Amazon Gift Cards

Amazon gift cards are instant payment method with a unique electronic code that helps reduce fraudulent activity and theft. It is a safe method to buy Bitcoin as long as this code is not publicly disclosed or compromised.

Users can conduct their own due diligence when using P2P exchanges in particular, as the transaction parameters are agreed between the buyer and seller.

Cexio Buy Bitcoin With A Convenient Mobile App

How to Buy Bitcoins Using Gift Cards

CEX.io is another well-established crypto exchange platform that started in 2013 as an only-bitcoin exchange. At that time, it held more than 40% of the total bitcoin mining power. In 2015, it began to accept Ethereum and concentrated on other cryptos in addition to bitcoin.

CEX charges trading fees that differ depending on how you trade. The highest trading fee is required for instant trading, which makes 7%. But the trading fees are very low when you choose a more advanced method of trading. CEX also has a well-designed mobile app that is very convenient for mobile trading.

The exchange also offers withdrawal and deposit fees which again differ depending on the payment method you choose. When it comes to safety, CEX has gained a good reputation. The platform is licensed and registered with FinCEN. Plus, it provides several safety features to obtain privacy for its users.

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How Are Cryptocurrency Gifts Taxed

Giving cryptocurrency to loved ones is usually not a taxable event. Unless the transfer exceeds the gift tax allowance, the Internal Revenue Service only needs to be alerted when the asset is eventually sold by the recipient and a capital gain or loss is realized.

If the recipient sells the gift within one year at a profit, they will have made a “short-term capital gain,” which is taxed as ordinary income. Beyond that date, it becomes a long-term gain, which is taxedat lower capital gains rates.

The size of the gain is determined by how much you, the donor, paid. In other words, if a coin was bought for $100 and then sold five years later for $500, the recipient of the gift would be taxed on a $400 profit.

Make sure you record how much you paid for the gift as well as how much it was worth when you transferred it. Without this information, the recipient will have to recognize a $0 cost basis, increasing their tax expenses.

Losses, which can be used as deductions on the investor’s tax return, work slightly differently. A capital loss is only registered if the asset is sold for less than both what it was initially bought for and its fair market value when it was gifted. If a loss of that magnitude occurs, the IRS will take the lower of the two amounts into account.

How To Choose The Best Broker To Buy Bitcoin

Compared to three years ago, cryptocurrencies, most especially Bitcoin, have come a long way. With price surges regularly, more investors and platforms now offer exposure to the volatile asset class. However, choosing the best platform to buy Bitcoin can be hectic due to several exchanges and brokers available. To address this, we have highlighted some of the features you should look out for before selecting a broker to use:

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Create A Paxful Account

As for the first step, you need to visit the Paxful website and click on the Register button. Then, in the registration window, you must fill in your email and create a password. With this being done, you will immediately get a verification code sent to your email through which you must verify your profile.

After verifying your account with an email code, you also need to verify it with a mobile code. So, provide your phone number to get an SMS and verify your account. When you register, Paxful will automatically generate a user name for you. If you want to change it, visit the settings section where you can also add a profile photo if you want.

Best Brokers To Buy Bitcoin With Itunes Gift Card In September 2021

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At the time of writing, Paxful is the best platform out there to buy Bitcoin with an iTunes gift card in terms of safety and usability. Its a peer-to-peer marketplace where sellers and buyers meet to trade bitcoins, and there is no third party or broker involved in the process, so you directly get in touch with the seller and complete your purchase.

Paxful – Top Crypto Exchange and Digital Wallet

Our Rating

In general, P2P marketplaces are actually less safe than brokerage platforms. In the second case, the platform has more governance over the transaction. Any of the parties can hardly cheat and escape from transferring cryptos after getting the money. However, Paxful is among the safest P2P marketplaces that you can find in the industry. It ensures secure trading through the escrow mechanism, allowing you to maintain disputes in case something goes in the wrong direction.

One of the most significant pluses with Paxful is that the platform itself does not charge any fees from buyers, but sellers apply their costs, which are relatively higher for gift card purchases. Apart from the gift card option, Paxful offers hundreds of other payment methods to buy Bitcoin, and also provides a secure crypto wallet to store your coins. With this marketplace, you will also get the opportunity to buy a small amount of BTC without having to complete the verification process.

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Buy Crypto Gift Card Online From Vgo

Did you know that Crypto Gift Cards are an ideal gift too for your loved ones? Many people are unaware of the fact that you can now gift digital currency.

There are a plethora of ways to do so. However, the most excellent method is to send a gift card to your family or friends.

With reasonable prices, quick order fulfilment, VGO-Shop never fails to fascinate people. VGO-Shop is great in the software, gaming, virtual currency, and gift card industries.No other analogous supplier has succeeded until now. This gives happiness since the shops customer satisfaction rate is 100%!

VGO-Shop understands the hustle of finding the best marketplace where you can buy your Crypto Card. With the ongoing crypto trend, the vouchers are quickly sold out! Sometimes the shop from which you are buying turns out to be a scam.

However, VGO-Shop ensures the safe delivery of the code. It also guarantees a smooth and secure redemption process.

Voila! You are ready to purchase anything you want! You can also secure your money virtually, which in turn can help you be stress-free.

What are you waiting for? Start your Crypto Gift Cards journey today. You can now buy gift card with bitcoin from VGO-Shop as soon as you like!

You can also contact the team if you have any doubts regarding the bitcoin voucher. The members are happy to help the customers when they have any doubt while purchasing.

Cryptorocket Best Broker For Btc Trading

CryptoRocket is an online trading platform that grants users access to trade in cryptocurrencies, commodities and forex. The company was founded in 2018.

It is known as the best broker for trading because it utilises MetaTrader4, the popular trading platform, which grants users access to a wide range of instruments.

The platform possesses one of the most extensive forex pairs, commodities and stocks to trade on with a list of 35 cryptocurrencies 34 cryptocurrency pairs.

It also lists over 55 fiat currencies, 64 stocks and 11 indices for trade. It was awarded the best cryptocurrency broker of the year at the Forex Broker Awards in 2020.

CryptoRocket uses Straight Through Processing execution. Users do not need to worry about desk manipulation or re-quotes when a trade is placed on its platform.

CryptoRocket allows for deposits and withdrawals from other independent crypto brokers and encourages users to buy Bitcoin UK with a credit/debit card as a third party payment method.

Pros

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Top 3 Ways To Buy Bitcoin With Gift Cards

While any peer-to-peer marketplace or a P2P exchange platform can help you buy Bitcoins, I wanted reliability, ease of transactions, and trading options. The first thing you want to do while buying bitcoins from a platform is to avoid any risks.

I can buy bitcoin instantly from any local store, but it really boils down to how safe and user-friendly is the online marketplace. After considering all these factors and browsing through several websites, I have compiled this list to help ease the process for buyers.

Heres a list of my findings- the best ways to get bitcoin directly using a gift card.

How To Give Bitcoin As A Christmas Gift

How to Buy Bitcoins with Gift Cards at the Best Price

Bitcoin has had an exciting run, breaking its price record in 2017 before settling back down again. Plus, it serves multiple purposes that other investment vehicles can’t: it’s a store of value and a medium of exchange, on top of being a great way to diversify a portfolio. For these reasons, Bitcoin makes a perfect gift for your loved ones. As we head into the holiday season, lets explore some unique ways to gift bitcoins to your family and friends.

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How To Buy Bitcoin With A Gift Card

If you are interested in such questions as can you buy a bitcoin gift card or how to buy crypto with a gift card, this section is for you because using gift cards is a perfect way to start your crypto investment experience.

  • Among several large gift card platforms where you can buy, sell and trade gift cards for cryptocurrency online choose a platform for proceeding operations.
  • Buy a gift card with cash.
  • Create an account on the platform.
  • Select Buy Bitcoin and preferred payment method , choose how many bitcoins you want to buy in your currency and click Search for an offer.
  • Browse through the list of available offers and pick a trustworthy seller who is accepting your chosen gift card type for Bitcoin among sellers from the list of real-time offers. Take a look at the sellers rating, rate and amount of BTC offered.
  • Accept Offer Terms and make a payment via Gift Card.
  • If you decide not to trade with the chosen seller, you can simply cancel the transaction.
  • Send gift code or card and required documents to the seller.
  • Get your bitcoins in your wallet.
  • This is the simplest way to buy cryptocurrency with gift cards.

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