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Author Topic: Sell That Gift Card For Bitcoins, PayPal USD or an Amazon Gift Card  (Read 17328 times)
Stephen Gornick
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December 25, 2010, 04:53:23 PM
 #1

Oh, that sneaky sister-in-law ...  thinking that gifting you with a Pottery Barn gift card might get you to  spruce up that dingy den which you call home.

She probably didn't know that you can convert that card to bitcoins before she's even sobered up from the egg nog.

The online gift card exchange http://www.plasticjungle.com accepts gift cards from hundreds of retailers.  Normally, you need to mail-in the card and wait before eventually getting about 75% of the card's value returned to you through PayPal.  

They now have instant fulfillment https://hms.plasticjungle.com/pjtopup/?merchant=20000000006 for a select list of 50 retailers where payment is made immediately.  Even if you don't have a PayPal account, you can still use this to buy bitcoins -- simply have Plastic Jungle send the payment to the bitcoin seller's PayPal address. #bitcoin-otc / http://bitcoin-otc.com/vieworderbook.php shows many sellers who will trade bitcoins for PPUSD.

Following are the 50 retailers whose cards are eligible through Instant Funding:
  • American Airlines
  • Babies R Us
  • Barnes & Noble
  • Bass Pro Shops
  • Bed Bath and Beyond
  • Best Buy
  • Best Western
  • Body Shop
  • Cabelas
  • Container Store
  • Crate & Barrel
  • DSW
  • Fandango
  • Foot Locker
  • Gap
  • Gap Brands
  • Gap Kids
  • Godiva Chocolatier
  • Guess
  • JC Penny
  • Kohls
  • L.L.Bean
  • Marriott
  • Neiman Marcus
  • New York and Company
  • Nordstroms
  • Office Max
  • Old Navy
  • Omaha Steaks
  • Overstock
  • PacSun
  • Petco
  • Petsmart
  • Pottery Barn
  • Pottery Barn Kids
  • Pottery Barn Teen
  • REI
  • Sams Club
  • Southwest Airlines
  • Sunglass Hut
  • Target
  • Toys R Us
  • US Airways
  • Victoria's Secret
  • Walmart
  • Walmart & Sam's Club
  • Williams-Sonoma

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Cryptoman
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December 25, 2010, 05:07:12 PM
 #2

Better yet, set up a direct gift-card-to-Bitcoin website.  What percentage does that site give you on those select 50 retailers?

"A small body of determined spirits fired by an unquenchable faith in their mission can alter the course of history." --Gandhi
Stephen Gornick
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December 25, 2010, 05:30:33 PM
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Better yet, set up a direct gift-card-to-Bitcoin website.  What percentage does that site give you on those select 50 retailers?

There already are ways to exchange gift cards for bitcoins -- the card can be offered on the #bitcoin-otc IRC channel, or it can be auctioned off using http://www.biddingpond.com

I think the rate that Plastic Jungle charges varies per-retailer.  They claim to pay up to 92% of the card amount, but for low dollar value cards getting just 75% is likely a more realistic estimate.

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December 28, 2010, 05:33:31 AM
 #4

75 percent seems really low. you can usually get upwards of 95 percent if you sell it on ebay.
(then, of course, use the USD you get to buy bitcoins Smiley ).

Join #bitcoin-market on freenode for real-time market updates.
Join #bitcoin-otc - an over-the-counter trading market. http://bitcoin-otc.com
OTC web of trust: http://bitcoin-otc.com/trust.php
My trust rating: http://bitcoin-otc.com/viewratingdetail.php?nick=nanotube
Stephen Gornick
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December 28, 2010, 06:36:00 AM
 #5

75 percent seems really low. you can usually get upwards of 95 percent if you sell it on ebay.
(then, of course, use the USD you get to buy bitcoins Smiley ).

less 9% final value fee,
and then
less $0.30 + 2.9% paypal fee
and then
less $0.44 postage
and then
pray the buyer doesn't claim it never arrived

Round trip from preparing the listing to getting the money: 5 days, for example.

Versus Plastic Jungle, instant funding http://www.plasticjungle.com/sell-gift-cards: 5 minutes.

nanotube
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December 28, 2010, 06:40:37 AM
 #6

yea, good point.
and wow, did ebay's final value fee shoot up in the recent months/years, or what? iirc it used to be like 2 percent?

Join #bitcoin-market on freenode for real-time market updates.
Join #bitcoin-otc - an over-the-counter trading market. http://bitcoin-otc.com
OTC web of trust: http://bitcoin-otc.com/trust.php
My trust rating: http://bitcoin-otc.com/viewratingdetail.php?nick=nanotube
Stephen Gornick
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December 25, 2011, 05:32:56 AM
 #7

Most gift cards you receive can be converted into bitcoins one way or another.  Certainly you won't get a 1:1 rate on that but eighty or ninety cents on the dollar is better than having to buy stuff you wouldn't otherwise buy.

Method 1: Sell the card at Plastic Jungle, buy bitcoins with the PayPal USD funds earned.
 - http://www.plasticjungle.com
Most gift cards will need to be mailed into Plastic Jungle before payment is made.
(also can cash out as an Amazon gift card.)

Additional gift card exchanges include (via http://on.wsj.com/uwAmxy and http://bit.ly/somj6u ):
 - http://www.giftcardrescue.com/sell/cards
 - http://www.cardpool.com
 - http://www.swapagift.com  (with physical locations for cashing out as well)
 - http://www.monstergiftcard.com

Method 2: Trade for Bitcoins on the #bitcoin-otc marketplace.
  Here are some open offers, for example:
 - http://bitcoin-otc.com/vieworderbook.php?sortby=id&sortorder=DESC
 - http://webchat.freenode.net/?channels=#bitcoin-otc-foyer

 Trade with a trusted party by using the #bitcoin-otc marketplace's Web of Trust (WoT)
 - http://bitcoin-otc.com/trust.php


Stephen Gornick
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December 25, 2012, 02:35:38 PM
 #8

Additional gift card exchanges include

From a 2012 review on USA Today:
 - http://usatoday30.usatoday.com/tech/columnist/kimkomando/story/2012-08-10/gift-card-exchange/56919940/1

I see there is one that I had missed:
 - http://www.giftcardgranny.com


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