Paxful Introduces Bitcoin-for-card Trading Platform

Paxful has launched a gift card hub as a one-stop shop for trading gift cards on its platform.

According to the company, this new feature allows users to list gift cards for sale or buy discounted gift cards instantly with bitcoin.

In a statement, John Balrup, the Director of Product at Paxful, said, “Gift cards unite us all. They are a means to creating greater economic access for individuals, especially in emerging markets.

“Gift cards open a world of economic possibilities for everyone, especially recipients who have yet to tap into digital currencies. Thanks to our new gift card hub, buying and selling gift cards for bitcoin this holiday season is easier than ever.”

The company added that this would allow its users to sell their bitcoin in exchange for gift cards from over 125 brands worldwide, with discounts of up to 50 per cent.

“The Gift Card Hub on Paxful has made last-minute holiday shopping even easier. Users can search for a specific gift card or browse Paxful’s full inventory, click on an offer with the self-checkout offer tag, and buy it instantly,” it said.

According to the statement, Paxful’s gift card trading volume year to date is currently worth $817m, while its lifetime trading volume equals $4.8bn.