The Business of Buying and Selling ITunes Gift Cards and Other Gift Cards.
By Hamzat Mariam
Many young adults and office workers have developed the idea of having a side business. They engage in the businesses for the benefit of having a fall back plan during hard times. The youths especially, engage in different businesses for the extra cash while some as a main source of income.
Therefore, venturing into different business line both on-line and offline is no news to people. A lot are already into businesses while others are ready to lay down capitals and start business with the aim of future profits.
Buying and Selling Gift cards of various sorts (Itunes, Amazon, Walmart) is the new venture for many. They buy these cards from people who have them available in exchange for money. Of course, these cards aren’t useless rather they are of great importance as they can be used for the purchase of goods and services in the online-stores.
Although, a lot of people make use of the cards directly, very many still prefer to sell in exchange for cash.
The business of buying and selling gifts cards is a quite easy one but requires intelligence as a lot of scammers hang around with the aim of making away with your money or card. A remit of card or payment of cash to the wrong and it can be considered gone as the transaction path may be a dead-end. Many may claim you can use it to make payment over the phone for your taxes, hospital bills, utility bills and the likes.
But the sole purpose of the card is to buy only in the store it is allocated to.
How then do you go about starting and maintaining a legitimate business of selling and buying gift cards?
For many who wish to start, you may not need to have a gift card of your own. Your main aim is buying from people who do not know how to go about selling it or redeeming it.
Some clients lack the know-how of operating the internet and handling issues like this, while sometimes a client may need quick cash and doesn’t want to go through the online routine. Here, is where you come in. With your subsequent experience, you buy from the seller and then become a seller yourself.
But however, buying gift cards is very sensitive as one can be scammed in this way. A supposed “client” may be a scammer in disguise. Therefore, checking the validity of the card before paying is very important. Many buyers may send you redeemed cards, or send a card to more than one buyer. Therefore, in order not to be out of business even before starting, ensure you check the validity before paying. Buying Itunes card and some other is done by asking the client to upload / send to you a picture of the card showing the denominations or uploading the receipt (for physical cards).
After accumulating as many cards as possible, you may then decide to sell to other middle men like yourself who are offering higher prices.
Sites like paxtradings.com pay a very good price or sell to anyone willing to use the card directly to make purchases on the store. Other times, it can be sold in exchange for bit coins (another line of business).
The price for which you sell the card determines your profit. Paying about N 350 for a card and selling N 400 gives a profit of N 50 on each. Although, competition may also determine the price at which the card will be sold.
Though buying and selling cards is be a risky business but it is quite lucrative and helps one to insure money.
The business is a quite easy one as a lot of transactions can be made in the corner of your room. All you have to do is get the words out that you deal in gift cards, this you can do preferably well on a website. Manage a website with good efficiency and have a good record of quick payment(do not be too quick so as not to fall into the paws of scammers though).
It requires capital only in the cash form and employing staffs is not a necessary.
Follow the guidelines and you will have a smooth and profitable business running in no time. Beware of scam and do not panickly send cards or pay money.