It’s common knowledge that gift cards are a popular way of storing and transferring value. However, because there are so many gift card types, values can also easily change.
So, if you have a gift card worth $100, you might be wondering how much you can sell it for. This article explains how this works.
Current Exchange Rates for a $100 Gift Card
At the moment, the value of a $100 gift card in Naira ranges anywhere between ₦50,000 and ₦120,000. Here are some estimated values based on popular gift card types:
- Amazon Gift Card – ₦80,000 – ₦110,000
- Apple/iTunes Gift Card – ₦85,000 – ₦120,000
- Google Play Gift Card – ₦75,000 – ₦100,000
- Steam Gift Card – ₦78,000 – ₦105,000
- Visa Gift Card – ₦90,000 – ₦115,000
Factors That Affect the Value of a $100 Gift Card in Naira
Generally, there are several factors that can dictate the value of a $100 gift card. A few of them include:
The Type of Gift Card: Probably the most important factor is the gift card itself. Different card brands have their specific resale values, so it’s important to watch out for that.
The Demand and Supply: If a gift card is in high demand, its resale value will be higher. For example, Amazon and Apple gift cards typically have higher rates compared to other brands because the demand for them is higher.
The Exchange Platform: The platform or vendor you use to sell your gift card also affects how much you get. Some platforms offer better rates than others, but rest assured that Exchanger101 offers the best rates on the market.
Market Fluctuations: Finally, the exchange rate of the dollar to the Naira plays a crucial role in determining the value of your gift card. Since Nigeria’s exchange rate fluctuates, the value of gift cards in Naira will also change periodically.
Tips to Get the Best Value for Your Gift Card
If you’re looking to sell your gift card, here are some tips that can help make your sale seamless:
- Use Trusted Vendors – Only use reputable vendors to avoid scams. Fortunately, Exchanger101 is one of the most trusted names in the Nigerian market.
- Trade at Peak Times – Exchange rates fluctuate, so sell when rates are favorable.
- Verify Card Balance – Make sure your gift card is valid and has the correct balance before trading.