Some of the most popular payment methods with which to buy Bitcoins are through credit cards, debit cards, bank transfer, cash deposits, and even PayPal. However, some people prefer to buy Bitcoins with some unconventional methods as well.
There are some people who buy Bitcoins with Amazon Gift Cards. These gift cards come in values from $1 to $2000 (USD). As such, you can gift this amount to sellers, they can enter the code in their Amazon, and get the credit.
This is a favorable method as it’s impossible to track and completely anonymous. However, there are only 2 platforms out there that allow you to use Amazon Gift Cards as a payment method.
In this article, I’ll show you how to buy bitcoin with Amazon Gift Card code instantly.
However, before you buy Bitcoins, you should also prepare a bitcoin cash wallet to hold them. My personal recommendation would be to use hardware wallets such as Ledger Nano S and Trezor as they’re the most secure means of storing cryptocurrencies.
Things to Know about Buying with Amazon Gift Card:
- Amazon gift cards come in two forms — e-Gift card, and physical cards that you can buy in grocery stores.
- If you’re using Amazon Gift Cards for payment, you’ll largely be paying a higher amount on the dollar. For example, if you’re buying Bitcoins worth $50, you might be asked to pay $75 in Amazon gift card.
- Sellers take a bit risk accepting Amazon gift cards. The only way to verify that the gift card is real is for them to enter the code in their Amazon and wait for the credit. Some sellers only accept physical gift card codes, along with a receipt from where you bought it.
Comparative Table of 2 Best Ways to Buy Bitcoin with Amazon Gift Card Code
These are the two best methods to buy bitcoin with Amazon Gift Card Code. You can go through their specifications and reviews to decide which one you like better.
PART 1: Paxful
Paxful is one of the most recent peer-to-peer exchange platforms. It’s highly flexible and it allows you to make payment using over 150 different payment methods. That includes all the regular stuff like credit cards, cash, etc. However, it also includes Amazon Gift Cards.
Paxful is basically a platform where buyers and sellers can meet and strike deals. Because it’s based on the free market, you can use any currencies, any payment method, and buy any cryptocurrencies even beside Bitcoins. It all depends on the sellers available.
However, you should be very careful while using p2p platforms like Paxful as there are a lot of fraudulent sellers out there. If you’re a beginner and you don’t follow all the guidelines of trade as outlined by Paxful, you might just get scammed.
How to Buy Bitcoins with Paxful:
- Register with Paxful.
- Enter the amount of Bitcoins, the currency you want to pay in, and choose Amazon Gift Card as a payment method.
- You’ll get a list of sellers who accept Amazon Gift Cards and sell Bitcoins. In the “to pay on the dollar” option you’ll be able to see the value of the Bitcoin in Amazon Gift Card credit. The rate will be much higher in a gift card than in the actual money.
- Send a trade request.
- After they accept the request, they’ll deposit the Bitcoins in the escrow account.
- Send the Amazon Gift Card code to them.
- Once they verify that it’s legit, you’ll receive your Bitcoins.
You can find buyers who accept Amazon Gift Cards here.
Geographical Availability: Paxful is available across the globe.
Fees: NO fees applicable for buyers. However, the rate of conversion for Amazon Gift Cards is much higher than that for regular currency in cash or credit.
Read: Paxful Review
PART 2: LocalBitcoins
LocalBitcoins was the first peer-to-peer exchange platform to have been established back in 2012. It’s highly reliable as a platform. However, due to the fact that they don’t charge any transaction fees, and they’re a free market, and there’s no verification, means that there are a lot of fraudulent sellers there as well.
As such, you should always vet your sellers carefully before engaging them and follow all of the platform’s guidelines. Furthermore, before you finalize anything, you should also make sure your seller isn’t listed in the fraud or scam page.
How to Buy Bitcoins with LocalBitcoins:
- Sign Up with LocalBitcoins.
- In the Instant Bitcoins page enter all of your parameters. Choose Bitcoins as the desired cryptocurrency, mention how many Bitcoins you want. Following that, choose Amazon Gift Card as your Payment Method.
- You’ll get a list of sellers who accept Amazon Gift Card Code in exchange for Bitcoins.
- Send a trade request.
- If they accept, they’ll have to deposit the Bitcoins in an escrow account.
- Send the Amazon Gift Card code. They’ll verify it.
- Once they’ve verified it, they’ll release the Bitcoins to you.
You can find sellers accepting Amazon Gift Cards here.
Geographical Availability: LocalBitcoins is available across the globe.
Fees: LocalBitcoins doesn’t charge any transaction fee from the buyers.
Read: LocalBitcoins Review
These are the 2 best ways to buy Bitcoin with Amazon Gift Cards. As both of these platforms are exactly the same in every way, I can’t recommend either one or the other. You should go through both of them to find the ideal seller and choose that platform.
Do comment down below and let us know whether this article helped you and if you could find a seller. Feel free to ask any questions as well.