In Nigeria, many people sell their gift cards for cash when they don’t plan to use them. It’s a smart way to make extra money and clear out unused cards from your wallet. However, as the gift card trading industry grows, so do scams. Fraudsters are constantly inventing new tricks to steal card details, which makes it essential to stay informed and alert.
The best way to protect yourself is to stick to a trusted platform. Tbay is the safest choice for gift card trading. With over 5 years of experience and thousands of active users, Tbay has built a strong reputation for secure transactions.
In this blog, we’ll take you through the common gift card scams you should watch out for. More importantly, we’ll also explain how Tbay protects you from these risks with its verified platform, safe payment system, and strong security measures. Let's start!
Watch Out for These Common Gift Card Trading Scams
1. WhatsApp & Telegram Impersonation Scams
One of the most common tricks involves people reaching out to you on WhatsApp or Telegram with “too good to be true” offers. Many of them pretend to be Tbay representatives, showing fake IDs or proof of trades. Some even go as far as completing one or two successful trades to earn your trust, only to scam you later when the amounts are higher. Remember, no matter how attractive the deal sounds, once you lose your card details, recovering them is nearly impossible. Tbay agents are not allowed to reach users through whatsapp or telegram so if anyone claims to be from Tbay, they are scamming you.
2. Fake WhatsApp Groups Using Tbay’s Name
Scammers also create fake WhatsApp/ Telegram groups pretending to be official Tbay channels. They use our logo, colors, and even fake testimonials to lure people in. As of today, Tbay does not have an official WhatsApp channel. Do not trust anyone who claims otherwise. We have a Telegram group and a link for accessing the Tbay Telegram mini app. Only stick to using these official channels and don't trust anyone else. If you want to connect with Tbay, here are the only official links you should use:
Official Tbay Telegram Channel:
https://t.me/Tbayplatform
Tbay Telegram Mini App:
https://t.me/TbayApp_bot
Any other groups or channels are scams, avoid them at all costs.
3. Fake Receipts & Payment Proofs
Some scammers will send you fake bank alerts, screenshots of transactions, or payment receipts to convince you that they’ve paid. In reality, no money has been transferred. If you don’t confirm your bank balance before releasing card details, you could lose everything. Always double-check with your bank and never rely on screenshots.
4. Overpayment Scams
Another trick is when someone offers to “overpay” you. For example, if your card is worth ₦50,000, they might say they’ll send ₦70,000 to “appreciate” you, but then ask you to refund the ₦20,000 difference. The catch is that their payment never goes through, or it bounces back after you’ve already refunded them. This leaves you at a loss.
5. Social Media Fake Accounts
Scammers often create fake Facebook, Instagram, or Twitter accounts pretending to be Tbay agents. They use our name and branding, but these accounts are not official. They usually send DMs offering “special rates” or “VIP deals.” Once you send your card details, they disappear without paying. Always trade only on the official Tbay app or Telegram mini app shared above.
How Tbay Ensures Safe Gift Card Trading for its Users?
Tbay has invested heavily in user security and privacy. A lot of time, effort, and resources have gone into building a platform that shields users from scams and ensures every transaction is safe. Here’s how:
✅ Vendor Security Deposit
Every vendor who lists offers on Tbay is thoroughly verified. To ensure trust, they must submit a mandatory security deposit of 30,000 Tbay points (equivalent to $30,000). This deposit acts as both a shield and a deterrent. If a vendor attempts fraud, they risk losing this huge deposit, which motivates them to stay honest.
✅ Tbay Fast Transaction
With the Fast Transaction feature, you trade directly with Tbay itself. This removes the risk of dealing with an unverified buyer or vendor. Your gift card is processed instantly, and payment is released without delays, making scams nearly impossible in this mode.
✅ Secure, Encrypted Transactions
Tbay uses bank-level encryption to protect both your money and personal data. Unlike risky WhatsApp or social media deals, every trade on Tbay is monitored and safeguarded end-to-end.
✅ 24/7 Monitoring & Scam Alerts
Our security team works round-the-clock to detect suspicious activity in real time. In addition, users get notified of new scam tactics through educational guides, ensuring you always stay a step ahead.
Conclusion:
Gift card scams are everywhere, and thousands of users lose money every day by trusting the wrong people. But with Tbay, you don’t have to take that risk. The platform is built to keep your trades safe, fast, and profitable. Whether you’re using Fast Transaction, trading with vendors on Tbay app, your money and gift cards are always protected.
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