Paxful Gift Card Marketplace Shuts Down: What Are The Alternatives?

Paxful is known as a gift card marketplace where you can buy and trade gift cards. Gift cards are also one of the popular payment options on Paxful.

However, the CEO, Ray Youssef, announced some hours ago that the business will be suspending all operations. In a blog, he referenced the suspension to the departure of key staff and the regulatory challenges in the industry. There has been a report of increased scrutiny of the cryptocurrency industry in the US.  A Twitter space was held on Tuesday where he stated that the suspension was also influenced by the lawsuit filed by his Co-founder. 

Youssef confirmed that the Paxful wallet is still functional for users to withdraw their funds. Note that the high volume of withdrawals happening on the platform is making transfers slow.

Now that Paxful suspends its operations without reopening in view? What are the alternatives? Keep reading to find out.

Best Paxful Gift Card Marketplace Alternatives For Nigerians 

Wondering about the alternative gift card platforms to Paxful? I’ve got you. There are several gift card trading platforms in Nigeria where you can easily buy or sell gift cards. Let’s check them out below:

1. Nosh

   Nosh is the best gift card trading platform in Nigeria and Ghana. Purchase and trade of gift cards are seamless on the platform for all users. There is a high-end security system ensured meaning your personal details and gift card information are safe. You also don’t have to worry about scams or fraudulent activities as all security measures are in place. With Nosh, you can buy gift cards, sell gift cards, buy airtimes, subscribe to data, and pay bills. It is compatible with both Android and iOS and you can download the app on PlayStore or AppStore. You can buy or sell any gift cards including Steam, Amazon, Apple, Walmart, Amex, and many more.

   
   
   

2. Cardtonic
   
   

   Cardtonic is one of the providers of gift card trading services in Nigeria. The platform is reliable and pretty easy to use for gift card traders. The mobile app is available for download on both Android and iOS. Cardtonic stands as an intermediary between individuals and businesses for their gift card needs. It offers a referral program where you can earn commissions on the trades performed by the users referred.
   
   

3. Prestmit
   
   

   Prestmit is that one place where you can buy, and sell gift cards and also trade cryptocurrencies. It is a user-centric platform developed to make gift card trading seamless. Purchase of airtime or data top-up can be done on the platform with naira, cedis, bitcoin, or USDT. 

   

4. AfrBTC

   
   

   AfrBTC is known as a gift card and Bitcoin trading platform in Nigeria. Exchange of gift cards for cash can be done instantly on the site. The mobile is available to only Android users and not iOS users. 

   
   
   

5. Giftcardtonaira

   
   

   Giftcardtonaira is a safe and reliable platform to trade all kinds of gift cards. The platform is accessible to all users 24 hours with no restrictions. All transactions are easy and swift.

   

Pros and Cons of The Alternatives

1. Nosh

Pro

1. User-friendly interface.
2. Variety of gift cards for sale and purchase.
3. Best rates on gift card exchange.
4. Advanced security measures.
5. Cross-platform compatibility.
6. Constant customer support.
7. Offers other services like betting account funding, airtime purchases, data top-ups, and bill payments.

Cons

1. Purchase and trade of cryptocurrencies are not supported.

2. Cardtonic

Pro

1. Variety of gift card brands.
2. Secured transactions.
3. 24/7 customer support.

Cons

1. Limited trading options.

3. Prestmit

Pros

1. It’s easy to set up an account.
2. No withdrawal fees.
3. Safe for gift card exchange.
4. Cryptocurrencies trade supported.

Cons

1. Average customer service.
2. Withdrawal fees.

4. AfrBTC

Pros

1. Instant gift card exchange.
2. Transactions tracking enabled.
3. Variety of gift cards.

Cons

1. Average customer service.
2. No iOS compatibility version.
3. Delayed payments.

5. Giftcardtonaira

Pros

1. Easy to use.
2. No limits on withdrawals.

Cons

1. No “Buy” feature.
2. Restricted to gift card exchange. 

Conclusion

Whether you are a previous user of Paxful or simply looking for a new platform to trade or buy gift cards, Nosh is your best bet. Nosh makes the purchase and exchange of gift cards pretty easy even for new users. The verification process is swift and you can trade on the spot. Do you need more information or clarifications on certain things? You can contact customer support via live chat or send a mail to [email protected].