Got Unwanted Gifts? Here’s How to Exchange Them for Bitcoin

Got Unwanted Gifts? Here’s How to  Exchange Them for Bitcoin

Now that the holidays are behind us, the time of year has come during which people will be looking to exchange their unwanted gifts in favor of something they can use. Most people flock to traditional options such as auction sites to sell the things they don’t need or want. However, this presents an excellent opportunity for more people to get their hands on Bitcoin, if they take the necessary precautions.

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Getting Rid of Unwanted Holiday Gifts

Buying presents for someone else is never an easy task, especially not in this day and age where people can buy anything they want from online shops around the world. Even if you have an idea as to what might be useful for the person, you are buying the gift for, someone else may have bought them identically the same gift.

For people looking to scoop up some cheaper gadgets, electronics, or even clothing, this time of year presents interesting opportunities. Many people are flocking to auction sites such as eBay to convert unwanted gifts into cold hard cash. PayPal remains the more favorable payment method for the time being, as transfers are instant.

At the same time, payment options like PayPal limit the potential of selling unwanted gifts. Due to this service not being available to consumers all over the world, most people will be selling their unwanted gifts locally. Sometimes, this process can take anywhere from a few days to a few weeks.

This situation can be quite stressful for those users looking to make a quick buck, either to buy something they do want or to pay off some debt or other bills. If the selling procedure takes too long, prices for the item will have to be lowered in an attempt to attract potential buyers. For those looking to buy the item in question, this is quite a profitable deal. However, for the seller, it is less than what they would like to have received.

At its core, there is nothing wrong with these types of dealings, other than creating frustration for people looking to get rid of unwanted gifts. But at the same time, holiday periods create an opportunity for people looking to get into the Bitcoin space in a hassle-free manner while killing two birds with one stone.

Selling Items in Exchange for Bitcoin

There are plenty of opportunities to sell unwanted gifts in exchange for Bitcoin. Auction sites, such as Bitify, provide an experience similar to eBay, which will make consumers feel right at home. However, Bitify offers something eBay does not, and that is an escrow service to both buyers and sellers.

But there are other options to sell unwanted gifts for Bitcoin as well. The Bitcointalk forums, for example, have a separate section where people can buy and sell both physical and digital goods in exchange for Bitcoin. Considering how people from all over the world use these forums on a regular basis, there are plenty of potential buyers to be found.

Unlike Bitify, Bitcointalk does not offer a native escrow services. That being said, there are plenty of reputable forum members who will act as an escrow, most of whom do not even charge a fee for doing so. It is an option well worth considering if one is looking to get their hands on Bitcoin, but rather not buy from a Bitcoin ATM or go through a verification process on a Bitcoin exchange platform.

What are your thoughts on selling unwanted gifts in exchange for Bitcoin? How would you go about doing so? Let us know in the comments below!


Images courtesy of Shutterstock, eBay

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