How to buy Bitcoin with gift card in 2023

This introductory guide explains how to buy Bitcoin with a gift card. Follow our simple three step guide to make your first purchase.
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Updated: Jan 25, 2023
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Firstly, the most important question to answer is: can I buy Bitcoin with a gift card?

No, a gift card doesn’t allow you to purchase cryptocurrency. However, you can use a gift card to fund a trading account and buy Bitcoin that way.

You just need a crypto exchange that accepts gift card deposits. And we’re here to help.

How to buy Bitcoin with gift card – a step-by-step guide

It takes about 15 minutes to buy BTC with a gift card. Have a copy of your photo ID to hand and follow this guide to get started.

Step 1. Sign up with eToro

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Step 2. Create an account

You need an account before you can buy anything. Sign up with your contact details and a form of ID for verification.

Step 3. Add funds to your account via gift card

Select ‘gift card’ from the menu and enter the code on your gift card to redeem it. The funds will be added to your wallet.

Step 4. Use the search box to find Bitcoin

Use the search box on the home page to search for Bitcoin and the currency you want to pay in (such as GBP).

Step 5. Make your purchase

Enter how much Bitcoin you want to buy, check the details and process the transaction. Once the payment goes through, your new Bitcoin will show up in your exchange account.

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Quick answers to key questions

Can I buy crypto with gift card?

Yes, you aren’t limited to buying Bitcoin alone. The only limit is which coins are available on the exchange you’ve chosen. Most crypto exchanges that support gift card as a payment method offer 50+ cryptocurrencies and many offer hundreds more.

Is a gift card safe?

Yes, it’s completely safe to use a gift card. The only risk to look out for is to make sure you sign up to a regulated gift card Bitcoin broker when buying Bitcoin. Using an unregulated broker platform can put your money at risk.

How much does it cost to buy Bitcoin via a gift card?

You may have to pay a small trading fee as part of the purchase, but there’s no additional cost for using a gift card. 

The trading fee depends on the broker. It’s increasingly common for crypto brokers to offer free trading, otherwise a fee of 1-2% is about par. 

There isn’t normally a fee for the gift card itself. If you’re lucky, that’s going to be paid by the person buying you the card anyway.

Can I store Bitcoin on my gift card?

Technically, yes. But it’s not a long term solution. Many brokers offer crypto gift cards so you can send Bitcoin to other people. Which means that you can load up a gift card with crypto and ‘store’ it.

However, we certainly don’t recommend doing this. Gift cards aren’t secure, they can be lost, or redeemed by anyone with the code. There’s nothing to prove the crypto on the card is yours.

You’re much better off storing your Bitcoin in a crypto wallet or simply leaving it in your broker account.

Why don’t more crypto platforms support gift cards?

Lots of platforms do, but it depends on what sort of audience they’re looking to attract. More modern platforms aimed at younger investors are more likely to offer gift cards than traditional brokers. 

Crypto-only platforms are much more likely to offer gift cards than all-in-one investing platforms. In part, this is because it’s much easier to buy $10 or $20 of Bitcoin and store it on a gift card than the same amount of a popular stock like Apple.

Should I buy Bitcoin using a gift card?

A Bitcoin gift card is a great option if you want to introduce friends and family to crypto. It’s extremely easy to buy one through a popular, secure exchange like Binance, and load it up with Bitcoin or enough cash to fund someone’s trading account.

The only thing to consider is that your favourite broker might not offer a gift card. You may have to choose from a limited pool of options.

Here are some more pros and cons of buying a Bitcoin gift card.

Pros

  • Convenient way to send Bitcoin to friends and family
  • Load up a Bitcoin gift card with as much money as you want
  • Easy to redeem a gift card on major exchanges like Binance
  • Send and receive crypto or use a gift card to fund a trading account

Cons

Is there an alternative to buying cryptocurrency with gift card?

There are plenty of alternatives, whether you want to pay through an online payment provider or go down a more traditional route. Here are some of the different ways to pay for your Bitcoin purchase.

FAQs

Can I buy Bitcoin with gift card on Coinbase?
Can I buy Bitcoin with gift card on Cash App?
How do I fund my crypto account with gift card?
Can I buy Bitcoin with a gift card instantly?
Can I buy Bitcoin with gift card anonymously?

Sources & references
Risk disclaimer

Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >

James Knight
Editor of Education
James is a lead content editor for Invezz. He's an avid trader and golfer, who spends an inordinate amount of time watching Leicester City and the… read more.