Simple, convenient and bank-free: Why gift cards are popular in crypto — NoOnes explains

According to Statista, the global gift-card market could reach $510bn in 2025. In the realm of digital assets, the speed and relative anonymity of gift-card transactions make them an unlikely but, at times, the most convenient instrument for investment.

The P2P platform NoOnes has supported gift-card trading since its launch in 2023. In May the venue opened a dedicated store for buying gift cards without creating an account. The team explains why this payment method is popular with crypto investors.

Bitcoin as a gift

The mechanics of trading gift cards on crypto platforms are straightforward. A user lists a card for sale, specifying the brand, face value and price. Once the card’s validity is confirmed, the agreed sum is transferred to the seller.

Crypto P2P platforms have formalised this process to create a more transparent and secure market in place of risky deals offline or in messaging apps. NoOnes highlights several common use cases:

• monetising unwanted assets. People often receive gift cards they do not intend to use because of personal preferences. P2P platforms let them convert these “dormant” assets, including into liquid digital assets;
• arbitrage. More experienced users buy gift cards at a discount on secondary markets or during promotions, then sell them or swap them for cryptocurrencies at face value;
• access to digital services. In some countries, services such as Netflix or Spotify are restricted. In such cases, gift cards become one of the few ways to gain access.

Using cards directly to acquire cryptocurrencies has its advantages. They are one of the few relatively anonymous ways to buy digital assets and suit people who are unbanked or wary of traditional financial institutions.

How to buy gift cards safely

The accessibility and anonymity of the gift-card market can also attract fraudsters.

Abuses, however, should be seen in context. In 2024 the gift-card market was valued at $474bn, and the bulk of that volume is lawful trade. The issue is not any intrinsic “toxicity” of gift cards, but that they can be misused like any other financial instrument.

P2P platforms understand these risks and invest heavily in safer trading. NoOnes employs several safeguards:

• gift-card verification. Lets users check card codes directly in the trade chat. The system warns if a card has already been used;
• escrow service. The platform intermediates the deal and does not settle between the parties until it confirms that the terms have been met;
• professional dispute resolution. Support assists the parties if disputes arise;
• ratings system. Traders can assess counterparties’ reliability by reviewing their activity and trade history;
• AI-based monitoring. Algorithms track platform activity in real time to spot suspicious behaviour;
• selective checks of high-risk trades. An extra layer of control includes manual and automated checks of operations flagged as high risk.

“Gift cards are a fast and relatively private way to trade without involving banks. But this instrument comes with risks, so it is very important to choose a safe place to exchange them. Over the years the NoOnes team has gained considerable experience in this field,” says NoOnes CEO Ray Youssef.

NoOnes gift-card store

In response to strong demand, the NoOnes team launched a dedicated gift-card store. Its key feature is the ability to buy various cards with discounts of up to 90% using fiat currencies, without creating an account on the platform.

“This initiative represents a significant step in lowering the barriers to entry not only for acquiring gift cards, but also for a user’s first interaction with the broader crypto ecosystem,” comments Ray Youssef.

He says the store can be viewed as a strategic funnel for attracting new users, who after buying a card may create an account to exchange it for cryptocurrency.

Globally, Amazon, iTunes, Google Play and Steam gift cards consistently rank among the most traded.

“Regional trends show more specific use cases. For example, in Russia demand for Spotify and Netflix gift cards is particularly high due to local restrictions on direct payments to these international services,” adds Youssef.

In Africa, telecom and retail gift cards are popular as practical alternatives in regions with limited banking infrastructure.

Conclusions

The crypto industry has turned gift cards from a niche payment method into a more private and, at times, one of the few accessible ways to invest in digital assets.

P2P platforms such as NoOnes are developing this market segment by deploying multilayered security. That broadens the appeal and resilience of the crypto industry, making it less dependent on banks and traditional payment systems.