Due to certain limitations on debit card use for international transactions in Nigeria, gift cards have become increasingly popular. The Walmart gift card, one of the most common vouchers worldwide, is highly sought after in Nigeria. No matter if you received it as a gift or stumbled upon it, knowing its value in Naira is crucial. How much would a $200 Walmart gift card be worth in Naira?
Walmart Gift Vouchers: An Overview
A Walmart gift card is a prepaid debit card issued by Walmart, one of the largest retail corporations in the United States. With over 10,500 stores worldwide, Walmart is known for providing a wide range of products, from groceries to electronics. Walmart gift cards can be used at any Walmart store or online at Walmart.com, allowing customers to purchase items hassle-free.
Walmart gift cards are available in both physical and electronic (e-gift) formats, with denominations ranging from $20 to $500. This makes them versatile for different purchasing needs. But what if you’re in Nigeria and can’t directly use your gift card at a Walmart store? This is where digital trading platforms come in.
Why Walmart Gift Cards are Valuable in Nigeria
Walmart vouchers, for example, help bridge the gap in international payments in Nigeria. As Nigeria’s Central Bank of Nigeria (CBN) restricts the use of Nigerian debit cards for foreign transactions, many people turn to gift cards as an alternative. Walmart gift cards can be used for shopping or converted into Naira for other purposes.
Walmart does not operate in Nigeria, so many people sell their Walmart gift cards for cash or cryptocurrency. What is the value of your Walmart gift card in Naira, and where can you sell it?
How Much is a $200 Walmart Gift Card in Naira?
The value of a Walmart gift card in Naira isn’t fixed and depends on the platform you use for trading. Each platform offers different rates, and factors like demand, denomination, and exchange rates play a role in determining the final amount you’ll receive.
For example, if you’re using Remitano, a leading digital trading platform in Nigeria, the rate for a $200 Walmart gift card is N86,000 as of the time of writing.
Factors Affecting the Value of Walmart Gift Cards in Nigeria
Several factors impact the value of a Walmart gift card in Naira, including:
- Demand: Platforms may offer better rates for popular gift cards like Walmart due to high demand.
- Exchange Rates: Although the dollar-to-naira exchange rate influences gift card prices, it does not directly determine the amount.
- Denomination: Higher denominations often have more favorable rates, so a $200 Walmart gift card might fetch a better price compared to smaller denominations.
It’s important to note that the value fluctuates, so you should always check the current rates on your preferred platform.
Where to Sell a $200 Walmart Gift Card in Nigeria
Several platforms in Nigeria facilitate the exchange of gift cards for cash or cryptocurrency. Here are some of the most reliable platforms:
1. Paxful
Paxful is a peer-to-peer trading platform where you can sell your Walmart gift card directly to buyers. The rates vary depending on the buyer’s offer, but it’s essential to check the reviews and trust levels of buyers before making a trade.
Pros:
- Multiple payment options, including Bitcoin
- Wide variety of offers
- Low transaction fees
Cons:
- Higher risk of scams
- Complicated interface for beginners
2. CoinCola
CoinCola is another peer-to-peer platform where users can exchange Walmart gift cards for Bitcoin. The platform offers reasonable rates and secure transactions, though it supports fewer gift card types compared to others.
Pros:
- Secure and fast transactions
- Multiple payment methods
Cons:
- Limited selection of gift cards supported
3. Remitano
Remitano is a popular P2P platform known for its user-friendly interface and secure trades. It uses an escrow system to protect both buyers and sellers during transactions. Remitano offers competitive rates for Walmart gift cards.
Pros:
- Secure platform with an escrow system
- 24/7 customer support
- Competitive rates
Cons:
- High transaction fees
- Not regulated in all regions
4. LocalCoinSwap
LocalCoinSwap is a decentralized trading platform where users can sell their Walmart gift cards for Bitcoin. This platform allows users to create their own offers or pick from available offers. The rates are competitive, but the selection of gift cards is somewhat limited.
Pros:
- Decentralized and secure platform
- Low transaction fees
Cons:
- Limited support for certain gift cards
FAQs
1. Can I use a Walmart gift card in Nigeria?
No, Walmart gift cards are only redeemable at Walmart stores in the United States or on Walmart’s website.
2. How do I check the balance of my Walmart gift card?
You can check your Walmart gift card balance by visiting the Walmart website or calling their customer service.
3. Can I convert my Walmart gift card directly to Naira?
Yes, several platforms allow you to sell your Walmart gift card for Naira, including Prestmit, Paxful, and Remitano.
4. What factors affect the value of my gift card?
The value is influenced by the platform’s rates, the denomination of the gift card, demand, and market conditions.
5. Are gift card trading platforms secure?
Many platforms use secure systems like escrow and two-factor authentication to protect users. However, it’s essential to choose reputable platforms to avoid scams.
Conclusion
Walmart gift cards are a convenient way to purchase goods, but they also offer a valuable opportunity for those in Nigeria to convert them into cash or cryptocurrency. If you’re looking to trade a $200 Walmart gift card, platforms like Prestmit provide competitive rates—N86,000 at the time of writing.
Remember, rates fluctuate, so always check the current rates before trading. Choose platforms that offer secure transactions, a wide variety of payment options, and excellent customer support for a smooth experience.