iTunes gift card market is one of the top online investments that many Nigerian youths involved in as they regularly trade these gift cards for fiat currencies on different trading platforms. However, one phenomenon that has begun to trend that has turned to an attractive option for gift card sellers are trading gift cards for cryptocurrencies.
The rise of cryptocurrency in the past few years has seen millions of people investing in various coins. The number one coin which is the most popular is Bitcoin as this cryptocurrency is traded on almost all crypto trading platforms worldwide. It is no surprise that there has been a growing rise of Bitcoin investors in Nigeria particularly among the millennials.
Why Exchange your iTunes Gift Card for Bitcoin
Bitcoin is attractive because the coin has shown over time that it is a viable investment that can rise over time and doubles as a currency that can be used to purchase goods and services.
A good example of Bitcoin’s value is the recent increase in price, as of March 1 BTC cost around $3000 USD but as of the time of writing two months later, 1 BTC costs $7900 which is over 100 per cent return on investment. Several Analysts have speculated that Bitcoin could rise to $20,000 by the end of the year which makes it a good investment at its current price to keep for the long-term.
Best Platform to Exchange your Gift Cards for Bitcoin in Nigeria
Exchanging iTunes gift card should be a simple task due to the array of trading platforms online. However, the major problem of trading iTunes gift cards on any platform is for the fear of getting scammed. There have been a lot of complaints about major trading platforms such as Paxful and IGCTrader.
The Hong Kong based exchange has emerged as one of the fastest rising gift card and bitcoin trading platform. CoinCola allows for inter-trading between users on the platform as you can choose the option to sell your iTunes gift card and be paid in Bitcoin.
Advantages of CoinCola for your iTunes to Bitcoin transactions
Low transaction fees
CoinCola maintains one of the lowest fees for transactions on its platform. Unlike other platforms that collect 2-5% as transaction fees, CoinCola charges just 0.7 per cent of your total transaction. This makes it a good platform to build your Bitcoin portfolio as you get close to full value for your Bitcoin.
CoinCola is one of the safest exchanges without any history of scam problems. Your transactions are kept safe and the platform offers a full guarantee of your funds. The platform uses high-grade military protocols which ensures that your funds are kept safe from hacks or online attacks. With CoinCola you rest assured about your iTunes gift cards to Bitcoin transactions.
How to Exchange iTunes Gift Cards for Bitcoin on CoinCola?
For you to trade your iTunes Gift Cards for Bitcoin on CoinCola, follow the steps highlighted below
1. Get your iTunes Gift Card
You have to get an iTunes gift card before trading on CoinCola which can be gotten from offline sellers or from a friend or family in a region that utilises gift cards. Ensure that you check the card to confirm that there are funds in it.
2. Signup on CoinCola for a free account
The next step is to sign up for CoinCola on its official website. You have two options either to sign up via eMail or Phone number. You need to fill in your correct email or phone number as a verification code would be sent that would be used to complete this process.
After signing up you would see the OTC option at the top of the desktop, move to the gift card section and create an offer with the option of accepting payments in BTC.
3. Have a Bitcoin Wallet
Bitcoin wallet is where you keep your Bitcoin and there are two options which is either a hot or cold wallet. Hot wallet is an online wallet while cold wallet is storing your Bitcoin offline.
CoinCola offers a hot wallet which is secure and this is an advantage as you can easily store Bitcoins gotten from transactions immediately on the CoinCola wallet copy the wallet address.
4. Initiate exchange transactions.
After this, you initiate a trade on the platform by verifying the transaction rate for your gift card using the rate calculator after being contacted on by a buyer and click initiate. You also have to change the option of payment to the Bitcoin payment option instead of your bank account and you would be asked to input your wallet address.
When the buyer confirms the iTunes gift card code, the equivalent value in Bitcoin will be released to your Bitcoin wallet and you would be able to access your funds via the wallet.
P.s. For people who want to buy bitcoin with Naira instead of gift card, go to the page of buying bitcoin in Nigeria at CoinCola where numbers of guys are selling bitcoins with different prices and payments in Nigeria.