About a decade ago, it would have been a mammoth task to buy Bitcoin, and almost impossible using iTunes gift cards. However, with the increase in the adoption of cryptocurrency, buying Bitcoin is now relatively easy. Today at the comfort of your home with just a mobile device, you can buy Bitcoin with different methods like Perfect Money, Fiat, PayPal, iTunes gift card and many other options.
If you have iTunes gift card lying idle, do you know you can convert it to Bitcoin? It is always better to have an idle Bitcoin than an idle iTunes gift card. There are different ways to convert your iTunes gift card to Bitcoin, some exchanges give users two options; users can either exchanges the gift card directly convert to Bitcoin, or in a peer-to-peer market. My favorite option is the peer-to-peer market because it gives users the opportunity to negotiate price.
Process of converting iTunes Gift card to Cash
Get a smart device, preferably an android or iOS enabled device, ensure the device have access to the internet, and a good camera minimum of at least 2.0 megapixel. If your device meets the above requirements, take clear pictures of the gift card.
Choose an exchange and register; there are numerous exchanges that allow users convert their gift cards to Bitcoin, however, you should be careful when selecting the exchange to use. Before you pick an exchange, consider factors like, market volume, transaction fees, transaction speed, and ease of navigation the platform.
After registration, navigate the site, you’ll easily see the see the “buy Bitcoin” option, click on this option and correctly fill the required details, where you are required to fill amount, input the amount of iTunes gift card that you are willing to exchange for Bitcoin.
Once all your details is filled adequately, upload your details (most exchanges require you click a “search button”). Once this is successful, you’ll be approached by a list of prospective buyers who are willing to exchange your gift card for Bitcoin. At this point, you’ll have to make comparison and negotiate, ensure you sell to the buyer offering the best deal. Remember the exchange platform is going to charge a percentage for every transaction you make, so don’t expect to get the exact value of your iTunes gift card in Bitcoin.
At this stage, you no longer have your iTunes, the question remains what are going to do with your newly purchased Bitcoin? You can save it in a wallet, convert it to cash, or any other digital currency. The process of converting Bitcoin is easy, it’s just like converting your iTunes to Bitcoin, the difference is you will be selling your Bitcoin. Start by clicking the “Sell Bitcoin” option .
Bitcoin has numerous uses; it serves as a store of value, and also a means of buying and selling goods and services. Your gift card is limited in usage, so why keep iTunes gift card when you can have Bitcoin? Also, buying Bitcoin is so easy on the Bitmama exchange. You can even buy with your credit card. Si if you want to own bitcoin, you can just purchase some with your naira on Bitmama.