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Chinese Gift card vendors are China-based and get gift cards from underdeveloped countries like Nigeria at a meager exchange rate and then sell them back to gift card stores or people in need and earn a fortune.
What are Giftcards
Just like your fiat notes,, they are money sent as gifts to loved ones, workers, etc.
Why do people send gift cards instead of money?
Gift cards are the most convenient ways to send money to loved ones, as they can be redeemed for cash in most Countries.
Are there Chinese sites to sell Giftcards
The answer to this is no, %99 of these acclaimed vendors trade strictly on WhatsApp as it is the best place to get as many Nigerians as possible.
Yes there are websites but we don't endorse any.
Are there Gift card stores in Nigeria?
Nigeria does not have a gift card store, and this made the Chinese startup their gift card markets here in Nigeria to make money out of our conditions.
The china Gift card Market
The Chinese gift card market has over 5000 buyers of gift cards and other digital assets, and from the verified record it has not less than %95 Scammers making it hard to differentiate between legit ones and scammers as the market is overcrowded. These buyers all work for top companies making the exchange rate relatively low, each level of trader takes out a reasonable amount as commission, so the rate you get depends on how closely you're to the main buyer.
Are there Nigerians who buy gift cards?
Yes, a good number of Nigerians are also buyers in this market, but %99 resell back to the Chinese making the exchange rate even lower as they would have to remove their personal commission again from the Chinese-provided rates.
Why do Nigerians sell to Chinese vendors instead of Nigerian Gift card Companies?
Most Nigerian Gitcard companies buy at a rate far lower than that of the Chinese
making most suppliers choose the Chinese over their own companies. and the rate difference is because these companies resell back to china.
How Trustworthy are Chinese Vendors?
Are Chinese Gift card vendors Legit? From accurate research done by Naija Reviews, only %55 of trades initiated with Chinese vendors have been recorded successfully. The Chinese knowing well that we can't file a court case nor make a report about them have been consistently defrauding us for years without fear, they do this amicably by making the first 3 transactions seamless, gaining the customer's Trust and then defrauding you of the next transaction claiming you sent an invalid card. Most people are left with no choice but to trade again as they have been blindfolded by the trust.
Are there Nigerian Companies that Trade directly to stores without the Chinese?
Yes they are rare but research has shown there are, and they offer higher rates and a %97 success rate
A few of Them are :
list to be updated as more are reviewed, feel free to engage them and trade let's develop our country
and stop being repeatedly used by the so-called Chinese vendors
here are lists and numbers of top Scammers in the Chinese gift card Market
- Gift Scammer - +8618627268693
- Green Bull - +8617767197407
The honest answer to the question "Are Chinese gift card vendors Legit?" is, there are Bad eggs and there are legit ones, but don't endorse you trading with them as it is illegal because they arent regulated.
1 Comments
nice review they have honestly dealt with me
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