The online gaming era is here to stay, and gift cards are a popular way to buy and exchange value. In recent years, the online gaming craze has expanded like never before, introducing differentiated ways of playing the games.
Gift cards are among one of the most popular ways to buy and exchange value in gaming. However, exchanging gift cards requires careful consideration in online gaming to ensure safety. This blog explores how to trade gaming gift cards online safely.
What are Online Gaming Gift Cards?
Before delving deeper, let’s identify online gaming gift cards and their usage.
In online gaming, gift cards have emerged as a versatile and popular transaction medium. These digital assets, often representing real-world currency, are not only used for purchasing games and in-game content. But at times, these gift cards for sale have also become a form of currency in their own right.
This has created a competitive online market for trading and exchanging gaming gift cards. However, there are several risks within this market as well. To avoid these risks, let’s get down to the details that need to be followed when using these gift cards.
Types of Gaming Gift Cards
Find various types of gaming gift cards that are widely in use now, as mentioned below:
Console-Specific Cards:
Console-specific gift cards include Nintendo eShop, PlayStation Network, and Xbox Live. These gift cards are often used to purchase digital games, downloadable content, and subscriptions like Xbox Game Pass and PlayStation Plus. These cards offer early access to games or in-game items and represent a currency in online gaming communities.
Game-Specific Cards:
These cater to specific games or publishers, like Blizzard Entertainment or Riot Games. Players use these cards to purchase in-game currency, skins, or other digital goods. Giving these game-specific cards as gifts to other players is also quite common. There are also specific sites, as identified by US News, that can be used to cash in on unused gift cards.
Online Store Cards:
Cards from digital storefronts like Epic Games, GOG, or Steam provide various games and software access. These versatile cards can also purchase in-game content, software, and sometimes even hardware like VR sets.
Where to Exchange Gaming Gift Cards
This is one of the most asked questions among gamers; let’s clarify the idea.
Online Marketplaces:
Several significant online marketplaces are available for several users. However, large platforms like eBay come with quite a large customer base. And the bigger the number of customers, the bigger the risk of fraudulent listings and counterfeits. Due to this risk, sellers need to double-check listing prices and buyers before randomly trusting with gift cards for sale.
Dedicated Exchange Platforms:
Now, there are also dedicated exchange platforms that specialize in offering platform exchanges. These include platforms like CardCash, Raise, and even Gift Card Granny.
When utilizing these platforms, the overall card value is guaranteed for some time, and return policies are also offered. In a recent article by NBC Washington, it was mentioned that unused gift cards can also be sold at discounted prices. Certain platforms also allow users to set the value of gift cards, similar to an auction site. It’s free during site listing; however, the company may charge a 15% commission on the final selling price.
Gaming Forums or Communities:
Traders looking for niche trading value head to places like Reddit and gift card exchanges, which offer specific gaming forums. These communities provide dedicated forums that can sometimes be valued at specific gift card rates.
Top Tips for Safe Trading
Let’s consider the tips that can be followed by traders for safe trading:
Comprehensive Verification:
The global gift card market is set to rise, as per reports of Statista, to reach a value worth 510 B by 2025. This huge increase directly facilitates the risks of high fraud activities. One of the major tips that need to be cross-checked when validating gift cards for online gaming is verification. Proper research on the trading platform and checking the reviews of previous users is essential for assured value.
Secure Payment Methods:
When looking for an online gaming gift card, the next priority is to check the payment method used on websites. Multiple users access these websites, so the payment methods must be cross-checked.
Using an escrow service is a definite requirement, where the payment is processed after confirming the card. As per protocols followed on Gameflip, users need to look for an added layer of security. Consumers should always accept payments that can be properly traced.
Guard Against Scams:
Over time, online gaming portals have effectively changed the way they operate. The advent of more offers and benefits has also brought several associated risks. This is why checking deals that seem too good for consumers is crucial. Sometimes, there are also gift cards with discounts that are heavily marketed for users. It is required to verify the details before randomly investing in them.
Legal Considerations:
Understanding card terms: Being aware of the policies against reselling or trading cards by some companies is essential. Ignorance of these laws can lead to voided cards for consumers.
Tax implications: Frequent trading or significant income from gift card trading might be taxable. Therefore, consult a tax professional to understand your obligations.
Wrapping Up
Safely trading gaming gift cards online is the new trend. Still, it’s essential to be aware and cautious to ensure safety. Evolving technology ensures that the future of gift card trading looks promising regarding security and efficiency. Therefore, adhering to these guidelines and tips, gamers can safely choose gift cards without risk.
