vanilla gift card rates: Gift cards are a type of payment that can be used to purchase items from stores instead of using cash. There are two major types of gift cards in the world, and they are open-loop gift cards and closed-loop gift cards.
vanilla gift card rates
Closed-loop gift cards are cards that can only be used to purchase items from the company or retail store that created and distributed them. Typical examples of closed-loop gift cards are Amazon gift cards, Sephora gift cards, Steam gift cards, and Google Play gift cards. These gift cards can only be used to purchase items from their respective brands. If you take a Google Play gift card to a Walmart store, it’ll be rejected.
Open-loop gift cards are the direct opposite of closed-loop gift cards. Open-loop gift cards are gift cards that can be used to purchase items from any store that accepts irrespective of the brand that creates and distributes them. These gift cards are usually distributed by finance companies and are similar to ATM cards, only that they cannot be used to withdraw money. Typical examples of open-loop gift cards are American Express gift cards, Visa gift cards, and Vanilla gift cards. These cards can be used in any store as long as the store supports it. The main focus of this article is the Vanilla gift cards and how to calculate their rates.
Vanilla gift card rates in Nigeria
In Nigeria, Vanilla gift cards are not used to purchase gift items. Rather, they sold for cash. Because there are hardly any stores that accept them. If you want to trade Vanilla gift cards successfully in Nigeria, it is important that you use the Astro Africa rates calculator to calculate the current rates of your gift cards and stay updated. The rates calculator is a unique feature that makes Astro Africa one of the leading trading platforms in Nigeria. To calculate the current rates of your Vanilla gift cards using the Astro rates calculator, follow the steps below. For this process, we’ll calculate the exchange rate of a $100 Vanilla gift card.
- Visit the Astro Africa website.
- Click on Check Rates.
- Select currency. You will find the NGN wallet, GHS wallet, and USD wallet in the drop-down. Select NGN wallet.
- Select gift card. Astro Africa supports a wide variety of gift cards. Scroll down to find the Vanilla gift card. Vanilla gift cards are displayed as OneVanilla on Astro Africa.
- Select the gift card category. Note that selecting the right gift card category is important to calculate the accurate rates of your gift cards. There are six gift cards category for Vanilla gift cards, and they are USA OneVanilla Cash receipts 400 -500, USA OneVanilla Cash receipts 200-300, USA OneVanilla cash receipts 100-200, USA OneVanilla Cash receipt 50-99, CAD OneVanilla Cash receipt 100-500, and CAD OneVanilla Cash receipt 50-500. Select “USA OneVanilla cash receipt 100-200.”
- Input the amount of your gift card.
- The corresponding value of your gift card will be displayed immediately, which is 36,000 naira for the Vanilla gift card cash receipt.
factors affecting the rates of your Vanilla gift cards
Several factors affect the current rates of your gift cards. Some of these factors are discussed below.
Demand and supply: The rates of gift cards and other digital assets are affected by their demand and supply. If the demand for a gift card is higher than the supply, the gift card rate will increase. However, if the supply is higher than the demand, the exchange rate of the gift card will reduce.
Type of gift cards: The type of gift cards you own determines the profit you make. All gift cards have different rates, and that is because they are distributed by different companies. Amazon gift card was the most popular and purchased gift card in 2022. This positively impacted its exchange rates by increasing them. Similarly, some gift cards are not in high demand, so you’ll expect them to have a low exchange rate.
Currency: The currency of the gift card also affects the exchange rates. Euro gift cards have higher exchange rates than dollar gift cards because the euro is higher than the dollar in the exchange market.
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