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How to start a gift card business in Nigeria?
Read all about 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 crypto 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 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.
Prestmit is a gift cards trading platform in Nigeria. You can trade different types of gift cards on Prestmit e.g. Itunes gift cards, Amazon gift cards, Walmart gift cards, Google play gift cards, Target gift cards, RMB and also Bitcoin
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 is a gift card trading platform that has been in operation since 2016.
Cardnosh is a registered business under the Nigerian corporate affairs commission with the name “cardnosh trading services” and the RC number 2777339.
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.
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.
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Thank you for reading and have a great day.
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