It’s possible to buy crypto with an Amazon gift card, but your options are very limited. If you want to buy crypto with an Amazon gift card, the only method that’s available is to use a P2P (peer-to-peer) cryptocurrency marketplace.

P2P cryptocurrency marketplaces operate differently from cryptocurrency exchanges. On P2P marketplaces, you can buy cryptocurrency directly from a seller, and sellers can choose to accept a very wide range of payment options, ranging from in-person payments to digital wallets and gift cards.

The main downside of P2P marketplaces is that you will get worse rates when buying cryptocurrency, and this is especially true if you’re using more “exotic” payment methods such as gift cards. 

In contrast, cryptocurrency exchanges utilize orderbooks. This allows them to offer more efficient rates, but they can’t offer the flexibility of payment methods that is possible on P2P marketplaces.

Where to buy crypto with an Amazon gift card?

Let’s get right ahead with our selection of P2P cryptocurrency marketplaces where you can buy crypto with an Amazon gift card. 

Paxful

Paxful is one of the most popular P2P cryptocurrency marketplaces, and users who sell crypto on it can accept a very wide range of payment methods, including Amazon gift cards. On Paxful, you can arrange a deal to buy crypto directly from another seller, as long as you agree on the price and payment method.

The Paxful platform makes it simple to find sellers based on the cryptocurrency you want to purchase and the payment method you want to use. In total, sellers on Paxful can accept over 350 different payment methods. 

The lowest premium we were able to find for buying Bitcoin with an Amazon gift card on Paxful was 12%. This means that you would receive roughly $88 worth of BTC if you paid with a $100 Amazon gift card. 

Other crypto assets that can be purchased with Amazon gift cards on Paxful include Ethereum, as well as the USDT and USDC stablecoins. However, please keep in mind that the premiums when buying these cryptocurrencies with an Amazon gift card tend to be even higher than when you’re buying Bitcoin. 

NoOnes

NoOnes is a P2P cryptocurrency trading platform where you can buy Bitcoin, Tether and USD Coin. The platform allows sellers to accept a huge range of payment options, including Amazon gift cards.

NoOnes provides a good selection of filters which make it simple to find offers that meet your specific criteria. Make sure to only look for offers that are applicable to residents of the country where you live.

At the time of writing this article, the only Bitcoin sellers who accept Amazon gift cards we have been able to find on NoOnes charge extremely high premiums. If you took the best available offer, you would only be able to get $63 worth of Bitcoin for a $100 Amazon gift card. 

To be fair, this is not a criticism of the NoOnes platform as such. You’ll always get less bang for your buck when buying crypto with an Amazon gift card, simply because it’s less useful than money.

LocalCoinSwap

LocalCoinSwap is a peer-to-peer cryptocurrency marketplace with a focus on user privacy. The LocalCoinSwap platform enables the trading of various cryptocurrencies, including Bitcoin, Ethereum, BNB Chain, Celo, and TRON, along with tokens issued on these blockchain platforms.

LocalCoinSwap has a non-custodial design, which means that users stay in control over their crypto assets while utilizing the platform.

Cryptocurrency sellers on LocalCoinSwap can accept a very broad range of payment methods (more than 300 payment methods at the time of writing), and Amazon gift cards are among the supported payment methods. 

When it comes to buying Bitcoin on LocalCoinSwap, expect to pay a premium of 15% or above if you’re using an Amazong gift card. However, it’s possible to get better deals if you’re not in a rush and can afford to wait until a seller who charges a lower premium makes a listing on the platform. 

CoinCola

CoinCola is a peer-to-peer marketplace designed for exchanging cryptocurrencies and gift cards. One of CoinCola’s standout features is that it enables users to purchase cryptocurrencies using gift cards, although you have to find a seller that accepts them.

The makes it easy to find sellers by filtering them based on the gift cards they accept and the cryptocurrencies they offer. Additionally, users can view the minimum and maximum transaction amounts that a seller is prepared to handle. Amazon gift cards are among the payment options that sellers on CoinCola can accept when selling Bitcoin, Ethereum or USDT.

Based on the listings that were active at the time of writing, sellers on CoinCola are charging extremely high premiums when selling Bitcoin and Ethereum for Amazon gift cards. The best rate that we were able to find for Bitcoin was 0.560, which means that you would only receive $56 worth of Bitcoin if you paid with a $100 Amazon gift card.

Please note that the gift card trading feature on CoinCola is a P2P marketplace. This means that you will need to take some precautions to ensure you’re dealing with a legitimate seller.

What to keep in mind when buying crypto with an Amazon gift card

As we have already mentioned, sellers on P2P crypto marketplaces typically offer relatively poor rates for crypto. If you are looking to buy crypto with an Amazon gift card, you should be aware that you will likely be paying a premium of 10% or above. For example, if you have a $100 Amazon gift card, you will only be able to get $90 worth of Bitcoin at best. 

Using a gift card to buy cryptocurrency on P2P marketplaces is one of the least efficient ways to acquire crypto. If you want to avoid paying exorbitant premiums, we recommend you consider buying crypto through other means.

The most efficient way to buy crypto is to deposit money from your bank account to an exchange such as Kraken and Coinbase and use the exchange’s spot markets to trade the money you have deposited for crypto.

In addition to high premiums. While P2P marketplaces implement escrow systems and user reputation metrics in an attempt to prevent scams, it’s still possible to get your funds stolen by dishonest sellers. The best P2P crypto marketplaces give users educational resources to help them spot the signs of a potential scam and protect themselves from fraud.

The bottom line

Although it is certainly possible to buy crypto with an Amazon gift card, you should be aware that you won’t be getting a lot of bang for your buck as crypto sellers who accept Amazon gift cards tend to charge very high premiums. Still, we hope that our selection of P2P marketplaces that support Amazon gift cards helped you find what you were looking for.

If you’re also looking for other ways to purchase cryptocurrency, make sure to check out our ultimate guide to investing in crypto.