How to start a gift card business in Nigeria
The business of trading gift cards in Nigeria is becoming very
popular (i.e. the business of buying and selling gift cards) these days
in Nigeria, hardly a day goes by without one seeing an advertisement of
someone offering to buy gift cards or bitcoin at a good rate.
As many seek to remove themselves from poverty or perhaps to find a
way were they don’t have to work for anybody but themselves, the gift
card business keeps getting more attention, and many people keep
searching for ways in which they can start a gift card business in
Nigeria.
In this blog post, am going to show how to start a gift card business in Nigeria and make money from the comfort of your home.
If you are interested in learning this, make sure you read till the
end and if you have questions, you can leave them in the comment section
below and I will answer the ones I can. Alternatively, you can also
visit the coinistnigeria contact page and reach out to us.
Let’s get into it then…
What is a gift card?
A gift card is a type of card that is used by a retail store. This
card usually has cash value and can be used for purchases within that
particular store.
This means that you can’t use a gift card issued by one store to make purchases on another store.
These gift cards are usually given out by the stores to ensure you
return back to it. It is sometimes a strategy used by marketers.
Popular gift cards are steam wallet gift card, iTunes gift card,
Amazon gift card, Google play store gift card, Walmart gift card, jc
Penney gift card, Nike gift card, visa gift card, Nordstrom gift card,
target gift card, apple store gift card, e-bay gift card, hotels.com
gift card, Macy’s gift card, America Express gift card, Footlocker gift
card, g2a gift card, Sephora gift card, iTunes 25 special gift card,
Xbox gift card etc.
Many people are willing to sell their gift cards for cash at
discounted rates, this makes an opportunity for smart business people to
make money by buying them and selling at a higher price.
How to make money buying and selling gift cards in Nigeria
Many of you have probably wondered how people make money from trading
gift cards, basically they buy gift cards at a lower rate and sell at a
higher rate i.e. if for example someone is willing to sell a $100
amazon gift card for $60, the buyer can later trade that gift card for
$80 and keep the $20 profit.
If the buyer keeps doing this, he/she can make a sizeable amount of
money by the end of the month. I have seen people pull in as much
300,000 naira monthly from just trading gift cards, just imagine what
that amount of money will do to your account balance.
Before you decide to start buying gift cards and make money by
selling them, you need to know some few things like how to advertise
your business (this in my opinion will be what will make and break your
business), how to buy gift cards at discounted rate, where to sell your
gift cards etc.
How to get customers for your gift card business
Getting customers for your gift card business will determine if you will be successful trading gift cards in Nigeria or not.
There are numerous ways to get customers, they are:
- Tell all your family and friends about your business, so if they
have people willing to sell their gift cards, they will link them with
you.
- Advertise your business on popular social media like facebook,
Instagram, WhatsApp etc. so people will be aware of your business.
- Set up a website, a website will make your business look more
professional, and if you have a bit of knowledge about SEO (search
engine optimization), you can get customers through this channel.
- You can also print banners about your business and share with
people, the banner should contain your mobile number, website address
and all the ways which someone can contact you.
- Make sure you have a referral system i.e. a reward to customers who
bring other customers to you, this way you can be getting customers
while others advertise your business for you.
Once you are able to satisfy your first few customers, you will
keep getting repeat customers. That’s all I have to tell you about
customers.
In the next paragraph, am going to show you some of the best sites to sell gift cards in Nigeria.
Where to sell gift cards in Nigeria?
The following listed are platforms where you can sell/redeem gift cards in Nigeria:
Patricia
Patricia technologies limited is
an e-commerce company that deals with trading gift cards, Patricia is a
professional website that lets you trade gift cards, perfect money and
Bitcoin.
You can trade amazon gift card, steam wallet gift card, eBay gift
card, Walmart gift card, google playstore gift card and others on
Patricia.
I particularly like Patricia, as I have had good experiences using them to trade gift cards.
You can read my full Patricia gift cards review.
Sellcardbtc
Sellcardbtc is a popular gift card trading platform in Nigeria.
Sellcardbtc claim to have the best rates for gift cards in the
country. Also they promise a very quick transaction process that should
not take more than 10 minutes before you receive your payment.
On sellcardbtc, you can sell iTunes gift card, Amazon gift card,
Sephora gift card, Google play gift card, steam Wallet gift card,
Walmart gift card and all other major gift cards.
You can read my full sellcardbtc review.
Cardtonic
Cardtonic is a gift card trading platform that is registered under
the Nigerian corporate affairs commission with the name “cardtonic
trading services” and RC number 2654401.
On cardtonic, you can sell a wide range of gift cards like iTunes
gift card, Amazon gift card, steam wallet gift card, googleplay gift
card, Walmart gift card, Sephora gift card and all other major gift
cards.
You can read my full cardtonic review
Cardnosh
Cardnosh is a gift card trading platform that has been in operation since 2016.
On cardnosh, you can sell the major gift cards like iTunes gift card,
steam wallet gift card, Walmart gift card, Sephora gift card, Nordstrom
gift card etc.
You can read my full cardnosh review.
There are other platforms were you can trade gift cards in Nigeria,
but the once listed above are trusted platforms that I have personally
used.
NOTE: Coinistnigeria is in no way affiliated to any of these
platforms, and will not be responsible for any misunderstanding between
you and any of the above listed platforms.
Problems with the gift card trading business
As with any other business, there are negatives that come with trading gift cards in Nigeria:
- Trust: Some people you will deal with are not
trustworthy, and will probably come with the intention of scamming you,
so you should be very careful who you deal with.
- Rate: The rate some people want to sell their gift
cards for is absolutely ridiculous, so you should always make sure that
the rate at which you are buying is favorable to you and your business.
- Payment speed: Many people will trade with you if
you are very fast in payment i.e. after you confirm that the gift card
is legit, how fast are you willing to pay the seller.
If you are able to find a balance, you will be very successful
in the gift card business. All in all, just make sure to be committed to
being successful and always do your homework on things you don’t fully
understand.
Conclusion
I hope that with this post, you now know how to start a gift card
business in Nigeria. If you have questions, you can leave them in the
comment section below and I will answer them as soon as I can.
Remember to share with your friends who might need this and don’t
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Thank you for reading and have a great day.
