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What are crypto gift cards? Everything you need to know

Crypto is not just a medium of exchange or money transfer anymore. It has found its way to the core of our lives by the passage of time and is gaining more success each passing day. One of these extensions is being used as a form of gift. In this case crypto gift cards and e-vouchers are extremely popular among people to give as a gift to their crypto enthusiast friends or loved ones.

What are crypto gift cards? Everything you need to know
PayPax Crypto Payment Gateway

There are many gifts you can give crypto lovers, but perhaps the easiest to buy and most accessible one among them is crypto gift cards. But the question is, what is a crypto gift card and where can I buy one? This post will answer all your possible questions and give you tips for where to buy a crypto gift card with the best price. 

What is a crypto gift card?

A crypto gift card is a card like any other gift card that is given to people as a gift for everyday mediums of exchange and other purposes. Gift cards can be used for buying everyday things like buying a pizza, booking a ride or hotel or basically paying at any platform or business that accepts crypto payments

Nowadays, large companies and big names in the world of digital trade accept payments in crypto. Some of the most noted names among which are Apple, Amazon, Tesla, etc. 

Crypto gift cards are low cost and eco friendly alternatives to traditional plastic gift cards or paper vouchers with no paperplastic or waste. You can send them to anyone you like, regardless of where they are located, without the need to visit them. Crypto gift cards can be bought virtually and sent to anyone all around the world

crypto gift card

How does a crypto gift card work?

Crypto gift cards work pretty much the same as electronic vouchers. Each gift card or e-voucher comes with a unique code that is used to identify and redeem the voucher. The code is typically delivered to a customer via SMS or email, often with a personalized and branded message.  

Customers can then use that code to claim their gift and redeem the amount by pasting the code to the crypto exchange that it’s been bought from or in store. 

These cards work pretty much the same way that physical gift cards do. Some of them even have a physical presence too. The only difference is in their balance. Unlike traditional gift cards which you buy from a bank and contain fiat currency, these cards contain digital assets like cryptocurrencies or digital money. However, it’s worth mentioning that depending on the platform you are buying it from, they can also be filled with normal and fiat currencies like the US dollar.

How do I use a crypto gift card?

As mentioned before, crypto  gift cards can be used for everyday mediums of exchange like buying pizza or booking a ride or hotel room. There are no limitations for crypto payments these days as they are gaining more and more popularity each passing day. No matter if it’s an online business or a brick and mortar store, these days everyone is fond of crypto payments for the convenience and speed they bring about. Gift cards are environmentally friendly payment solutions to all consumers.

By giving crypto gift cards to your loved ones, you give them freedom of choice to buy whatever they want with the money you have given them. The large scalability of crypto payouts will help them find the best plan for spending their money. 

 

Where can I buy crypto gift cards?

Crypto gift cards can be bought from crypto exchanges that offer them. Most crypto exchanges have a collection of gift cards which you can buy, gift and redeem easily. PayPax is one of them. 

PayPax e-voucher is a virtual card that is typically delivered to a customer as a 16 digit code via an email or SMS. e-vouchers can then be redeemed within the system using the code. The receiver can redeem the voucher via their PayPax account. The amount will then be added to their PayPax wallet balance. 

A PayPax e-voucher can be sent to multiple customers as a gift or used to transfer money anonymously to a seller or business counterpart. If you have friends or family abroad which you want to send money or offer a gift to, a PayPax voucher is a safe option to do so. 

paypax gift card

Can I convert crypto gift cards to other assets? 

Crypto gift cards are virtual cards that hold different kinds of fiat or cryptocurrency. Basically they are alternatives for holding an asset in your cryptocurrency wallet. This means that whatever cryptocurrency your crypto gift card holds, you can sell or exchange it for other assets from the same platform that it’s been bought from. 

There are two ways you can convert your crypto gift card. Either by selling or trading it with someone who wants it (to give you the equal amount in your desired form) or by redeeming and exchanging it yourself (basically selling it to the exchange service again). If you have chosen to sell it to the exchange platform directly, first you need to redeem it at the same service. 

Redeeming a crypto gift card means entering its code in the system and receiving the equivalent amount in your wallet balance. Once you have done so, you can exchange your money to whatever form of cryptocurrency or fiat that you desire. 

 





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