How to cash out cryptocurrency using gift cards

March 31, 2022 0 By Maxim Hayden

Almost every crypto investor can relate to this at some point. You bought your crypto after struggling to get your bank to allow the payment. They made you jump through almost every hoop imaginable, before finally allowing your money to be transferred to the exchange (CEX), or crypto payment provider of your choosing. Ever since then, you’ve hodled come rain or shine. However, now the time has finally come to cash your coins out, and put them paper gains to real world use.

Although, with the issues you had getting your hard-earned money out of your bank account in the first place, it’s unlikely you’re going to want to try and pay your profits or initial investment back into the account that gave you so many difficulties in the first place. This is one of the several reasons, as to why investors may not want their crypto money to go anywhere near their mainstream bank account again. Outside of this, other reasons range from investors wanting to keep their personal finances private from their significant other, just wanting to keep their profits separate from their regular pay-check, or not wanting any other spying eyes to see what profits have been made.

With this in mind, there a number of ways an investor can do this nowadays. The most common method of doing so is by converting simply your coins to fiat, in app, and spending this money directly on a crypto card, whether it be through the likes of Wirex, Crypto.com, or Coinbase.

However, this isn’t the only way of spending your crypto outside of your everyday bank account. Buying everyday gift cards is another way of spending profits easily, with minimal fuss, and fewer eyes.

Whether it be Amazon, eBay, Best Buy, Apple, PlayStation, Xbox, Target, or JC Penny, a gift card can be bought for the majoirty of major online stores. Alternatively, even American Express, Mastercard, or PayPal gift cards can be purchased, if you can’t decide where you want to spend your money.

For your convenience, a list of providers that allow gift cards to be purchased directly with crypto have been showcased below, helping to keep your crypto currency in your control.

Coingate

Buy gift cards with Bitcoin, Litecoin, and other cryptocurrencies. 99.9% of all gift cards are received instantly. Subscriptions through gift cards allows you to keep in control of your monthly subscriptions, as well as allowing for regional subscriptions to be bypassed.

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