How To Make Money Online in Nigeria With Gift Card Trading

Do you ever feel like you need to make more money? Yeah, me too. I mean, who wouldn’t love making extra money, especially without having to leave your couch?

Gone are the days when you had to drag yourself out of bed and go to a job you may not even enjoy. Thanks to the internet and technology, earning money is literally at your fingertips. Just with your smartphone and internet connection, you can make good money. 

Now, there are many ways you can make money online, but today I’m focusing on trading gift cards!  It’s a surprisingly simple and accessible way to make extra income. 

So, without further ado, let me explain to you how you can make money online by trading gift cards. I’ll also explain other details you need to know. Let’s get to it!

What are Gift Cards?

Gift cards are like prepaid shopping vouchers. They are preloaded with a specific amount of money that you can spend at specific stores whether online or in person. Simply put, gift cards are a store of money and a cash alternative. 

Gift cards eliminate the need for carrying cash around and also remove the security risk involved with credit/debit cards. Also, they’re perfect for gifts because they let the recipient choose what they want.

Gift cards come in various denominations, ranging from small values like $5 or $10 to substantial amounts over $100. This makes them flexible and perfect for different budgets.

There are different types of gift cards, and they come in physical and digital forms. The physical ones come in the form of plastic cards while the digital ones come in the form of e-codes. 

Additionally, if you don’t want to use your gift card or don’t need it, you can sell the gift card. 

What is Gift Card Brokerage?

Before I go into what gift card brokerage is, let me explain to you who a broker is. 

Do you know those people who connect buyers and sellers? Like when your friend wants to sell their car and you know someone who’s looking to buy one so you connect them? You’re acting as a broker!

That’s the whole idea behind brokerage: matching people who want to buy something with those who want to sell it.

Therefore, gift card brokerage is the process of buying and selling unused gift cards for cash or other forms of payment. That means you buy gift cards from people who don’t need them and then resell them at a profit to people who themed it. 

With gift card brokering, gift cards are sold at a lower price compared to the price from the brand. Imagine buying an unused $50 Apple gift card at $35 and selling it to someone at $45. That means you will make a $10 profit. What you’ve done there is gift card brokering. 

How To Make Money Trading Gift Cards Online

If gift card brokerage sounds like a path you would like to take to make money online, then you need to know how to go about it. 

Follow the steps below to make money from trading gift cards online:

1. Do your own research
2. Find buyers
3. Understand buying rates
4. Market your business
5. Be honest

1. Do Your Own Research

Before diving headfirst into gift card trading, you need to understand what you are getting into. Gift card brokerage is a business, and you have to do your own research before venturing into any business. 

Moreover, doing research before getting into any business will give you an idea of the benefits and challenges you can expect. 

For gift card trading, you need to understand the rate of demand and supply, types of gift cards, rate fluctuation and other market variables. Having this knowledge will inform your brokerage decisions. 

2. Find People to Buy

Selling your gift card requires you to put in effort. You need to find buyers for your gift cards because the gift cards won’t sell themselves. You might not like this step of the process especially if you’re not very social. However, it is a necessary step. 

You can find buyers online through social media or on gift card forums. You can also partner with someone who will buy gift cards from you. 

Make sure you conduct thorough assessments of potential partners to ensure they are reliable. Once you’ve confirmed their reliability, you can then move on to discuss the terms of the business with them. 

If you don’t want to go through the stress of finding buyers yourself you can sell your gift card on Nosh, a reliable gift card trading platform in Nigeria and Ghana. 

3. Understand Buying Rates

The rates you buy gift cards are important because they can either sustain or jeopardize your business. If you constantly buy at a high price, it can negatively affect your business. Whereas if you buy at lower rates, you’ll make more profit. 

Obviously, maintaining a fixed rate is not advisable due to the fluctuating nature of the gift card market. 

Simplify the process by regularly checking the rates on popular gift card trading platforms like Nosh to get the best and most real-time gift card rates.

4. Market Your Business

The next thing to do is sharpen up your marketing skills because you will need them. If you want customers you need to let them know about you and your business. Some people get tired here, but you must stay consistent and work smart.

Try to get as many customers as possible through networking and advertising. Figure out who your target customers are and find ways to reach them because your business needs customers to thrive. 

If this doesn’t sound like something you would want to do, the best option for you is to trade on Nosh. You wouldn’t have to go through the stress of finding customers, and you get paid instantly. 

5. Be Honest

As a business owner, honesty should be your watchword. 

It is even more important since gift card brokerage is finance-related. You may get tempted to rip your customers off, however, you must overcome that temptation for your business’s sake. 

When your customers know they can trust you, they will refer you and get you even more customers. On the other hand, they can ruin your business when you’re dishonest with them. So ensure you uphold your integrity when dealing with your partner or customers.

Benefits of Making Money Online with Gift Cards

There are various benefits of trading gift cards to make money online. Some of them are:

1. You can work from anywhere: You can work from any place and at any time, stress-free. Everything you need for gift card brokerage is accessible online. 
2. You will make additional income: Gift card trading isn’t time or effort-intensive especially when you use gift card platforms. You don’t need to leave your full-time job and it can complement your main income.
3. Flexibility: You can trade anytime you want to without putting anything at risk. It is not a business that requires punctuality or any formalities of the sort. 
4. It is cost-effective The business of gift card trading doesn’t require a high cost of capital. You can always start small and grow it over time. 

Conclusion

Making money online by trading gift cards can be a good way to earn. It gives you the flexibility to work when you want, brings in extra income without quitting your regular job, and opens up more ways to make money. 

By following the steps discussed above, you can turn online gift card trading into a reliable way to make some cash from home.