Gift card Trading has been around for a long time, as the business is believed to be as old as the existence of Gift Cards itself. Before we delve into the main discussions, what are Gift Cards?
A Gift Card is a custom card designed by companies such as Ebay, Apple & Amazon etc which allows their customers to purchase some of their services on their respective stores or website. These cards are primarily used for the online purchase or subscription of their services as they have monetary values, ranging from $50 to $100, $200 and $500 etc (Pls Note: It could also come in other currencies). This also informs the reason why many people in many parts of the world give these Gift Cards to their friends and loved ones rather than give them cash. So you can simply see it like the way we see recharge cards for our phones lines in Nigeria. Where you’re sometimes tempted to sell a recharge card someone gave to you as a gift in exchange for cash.
Now you understand what Gift Cards are, let’s delve deeper; since not everyone is interested in buying something on Amazon or Ebay at every point in time. Many might seek to sell the Gift Cards they got as a gift from a friend in exchange for cash. As these gift Cards sometimes lay unused for many weeks sometimes months which adds no value to anyone, some will rather just sell it for slightly below the market value in other to get quick cash which could be used to buy any other thing that they might prefer.
The willingness to sell Gift Cards by this group of people is what created a new money making opportunity for other online entrepreneurs, who now buy these gift cards at a discounted rate and then sell it to someone else who might really need them and want it for slightly less of its original price.
For example; how it works is simply, buy a Gift Card worth $100 from someone who is willing to sell for $70 cash. And then proceed to sell it to another person who really needs a Gift Card worth $100 but wants it slightly cheaper. So you could sell it to them at the rate of $80 and make a cool profit of $10. If you repeat this many times a day, you’ll realize that you have made a sizeable chunk of money.
How To Get Your Own Gift Card Trading Website
There’re different types of Gift Card exchange sites out there, some are basic profile sites while others can be in form of a portal and have loads of automated designs that gives a better users experience. Some others also come with other services like Bitcoin and other crypto currency exchange capabilities.
It all depends on the plans and more importantly, the budget of the individual who wants to establish it.
Building one requires many key considerations from the security features that must be integrated into the architecture of the project to the payout feature that will allow users to easily withdraw their funds etc. The more features it has, the better it is
There’re other ideas we can discuss when you contact our team at New Connect, for the design and development of your own Gift card trading Website & Mobile Apps.
We @ New Connect are an experienced Web & Mobile Application development firm with many years of designing and developing tailor made solutions cutting across many sectors, from E-commerce to Classified Ads, Crypto Currency and Real Estate etc.
We are always excited about building new Tech Solutions, Call or whatsapp +234 808 970 0958 to get started today.