Cash is flexible and accepted almost everywhere, but gift cards are brand-specific and come with spending limits. Still, gift cards offer more than just a way to buy things, they’re easy to give, help with budgeting, and in some cases, come with added discounts.
What many people don’t realize is that gift cards can also be converted to cash. If you’re not interested in using one, you don’t have to let it go to waste.
In this post, we’ll break down the key differences between cash and gift cards, weigh the pros and cons of both, and show you how to buy or convert gift cards in just a few steps.
Cash and gift cards are both used for payments, but they function differently. Below are the key differences you should know:
Cash is universally accepted. You can use it at any store, pay for services, make informal purchases, or send it directly to someone without restrictions. Gift cards are more limited, they’re tied to a specific brand or platform.
For example, a Nike gift card can only be used on Nike’s website or in its stores. This makes gift cards less flexible, but still useful within their scope.
Cash remains valid indefinitely unless the government announces a currency change or recall. It doesn’t lose value over time. Some gift cards, on the other hand, have expiration dates or inactive fees that reduce their value if not used within a certain period.
While many newer cards don’t expire quickly, it’s still important to check the fine print before assuming the card is valid long-term.
Cash is issued by central banks and comes in physical form, usually notes and coins. It’s instantly recognizable and easy to carry. Gift cards come in either plastic or digital formats and usually carry a 16-digit code or QR code for redemption.
Physical cards are often handed out in person or mailed, while digital ones are delivered via email or mobile app. Both versions function the same way once activated.
Cash transactions are anonymous and untraceable unless manually recorded. Once spent, there’s no automated history or receipt unless the buyer asks for one. Gift cards, especially digital ones, often come with built-in tracking features.
You can view your remaining balance, see past transactions, and get notifications on usage. This makes them helpful for budgeting or monitoring your spending habits.
It’s not that difficult to buy gift cards in Nigeria. Platforms like Nosh have made gift card purchase pretty easy. You can easily turn cash into gift cards with the following steps.
A step-by-step guide to converting gift cards to cash. Follow the steps outlined below.
Cash and gift cards are both useful, but they serve different purposes. Cash gives you full freedom to spend anywhere, while gift cards are tied to specific brands but offer added benefits like easier tracking and controlled spending.
Many unused gift cards end up forgotten or wasted, especially when people don’t know what to do with them. If you have a card you don’t plan to use, you can exchange it for cash, crypto, or USD on Nosh.
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