With evolving technology and a growing need to purchase electronics, we as a consumer have made a habit of buying modern gadgets and keeping the old ones. The only problem here is not doing something about the devices that collect dust, even though there are many ways to earn cash out of them.
Why do many users who upgrade to a new smartphone, laptop, or TV not sell or trade the old ones? Well, most people don't do it because they don't know how to. So, what can we do about it? We are here to change your perspective about keeping outdated/defunct gadgets. Moreover, we will also tell you three smart ways you can earn cash from old electronics.
Here are the top three ways to earn money from old electronics
- Trade-in electronics for Cash
- Donate and Get a Tax Deduction
- Sell Them Back to the Carrier
Trade-in electronics for Cash
Right off the bat, trading in your electronics, which are no longer your daily driver, is one of the easiest and fastest ways to earn cash. Let's face it: not everyone uses two or three smartphones or laptops, for that matter, as their go-to device. So why keep them around? Why not make easy money, right?
There are plenty of platforms that offer “trade-in electronics for the cash option,” and this is another reason why you should never keep used or old electronics around you in the first place. You can sell your electronics online, or if you are old school like me, visit the nearest retail store or an ECO ATM located inside Walmart to trade in electronics for cash in a matter of minutes.
Well, it goes without saying that the greater your device's condition, the more value you will get out of it. Still, if your device sustained screen damage, has broken glass, or has an unresponsive button, this is also acceptable for trade-in programs. Remember, making money is not the only goal you achieve when you opt for a trade-in program. You lift off the burden of keeping and holding used electronics, which could have served a better purpose.
Need a clue to trade in your smartphone or laptop? Well, look no further. Gizmogo is always here to assist you as the company buys smartphones from you and offers you a handsome amount in return. The best thing is you get the money within 24 hours after your device reaches us for evaluation. Sell your electronics today with us.
Donate and Get a Tax Deduction
What better way to let go of your old electronics and earn a tax deduction in return? Donation. Yes, buying a smartphone from carriers for a yearly plan is convenient, and so is saving money by paying a reduced annual tax. However, you need to process specific terms and conditions before availing of this benefit.
You are eligible to get a tax deduction if you donate used electronics such as a smartphone, personal computer, laptop, scanner, and printer to a school, library or a non-profit organization. Any electronic property you donate will be subjected to current market value. Based on it, you will get a receipt that is more like an acknowledgment letter mentioning what you contributed and its overall value. The tax deduction is applicable only for the year in which you donated equipment to the above-mentioned sources. Moreover, shipping costs are also tax-deductible under certain terms and conditions.
Still not clear how does this works? Say you bought the Samsung Galaxy S20 Ultra for $999, and a year later, you got the brand new Samsung Galaxy S21. Suppose you decide to donate the previous model, which is valued at around $550 at the time of contribution. In that case, you will get a tax receipt mentioning your name, make, and model of the property you donated and in the last $550 value. You must attach this receipt on Form 8283 when you file for tax returns, and just like that, you will get a tax reduction of $550.
Sell them back to your carrier
This conventional method does not benefit you directly. You do not get any monetary benefit by sending back your old electronics to their parent companies via drop-off points. However, the strongest argument here is that this method empowers and creates jobs for many.
The leading tech brands, including Samsung, Motorola, Apple, and others, have set drop-off points where consumers can submit their old or broken electronics to avoid E-waste. This industry thrives on collecting the electronics and pipelining the scraps to be used in the manufacturing of future hardware devices. This arduous process requires a workforce, and your recycling becomes a baby step in creating jobs.
A study suggests that recycling creates an average of 10 times as many jobs as traditional disposal or incineration. So, if you think about it, you are helping others earn money by recycling old electronics that you no longer use as a daily driver. Your act contributes to the financial savings of your city or state. Of course, you lose the option of getting any cash after recycling electronics for free, but if you have plenty of damaged or broken electronics at your disposal, then this is the best way you should recycle them for good.
Now that we have made you aware of the top three ways to earn cash from old electronics, are you likely to get rid of them after reading this post? Sell your electronics at Gizmogo to get an exceptional price for your old phones and enjoy our excellent service.
Earn Cash from Old Electronics: Maximizing Your Benefits with Gizmogo
In today's rapidly advancing tech world, the opportunity to “Earn Cash from Old Electronics” has never been more accessible. Gizmogo stands at the forefront of this movement, offering users a straightforward and lucrative way to earn cash from old electronics.
1. Simple Process to Earn Cash
Gizmogo simplifies the process of earning cash from old electronics. Their user-friendly platform lets you quickly get a quote for your old devices, making it easier to earn cash from old electronics.
2. Competitive Offers to Earn Cash from Old Electronics
You're assured of receiving competitive offers when you choose Gizmogo to earn cash from old electronics. They evaluate your devices fairly to maximize your opportunity to earn cash from old electronics.
3. Eco-Friendly Way to Earn Cash from Old Electronics
Gizmogo not only helps you earn cash from old electronics but also ensures that your old devices are disposed of in an environmentally responsible way. This commitment makes Gizmogo a great choice for earning cash from old electronics while being eco-conscious.
4. Secure Data Deletion in the Process
Security is paramount when you earn cash from old electronics. Gizmogo guarantees that all personal data is securely wiped from your devices, ensuring safe and worry-free transactions as you earn cash from old electronics.
5. Exceptional Customer Service
The customer service at Gizmogo enhances your experience as you earn cash from old electronics. Their team is dedicated to assisting you throughout the process, ensuring a smooth journey as you earn cash from old electronics.
6. Convenient and Hassle-Free Way to Earn Cash from Old Electronics
Gizmogo offers unmatched convenience, making it an ideal platform to earn cash from old electronics. From online quotes to free shipping, every step is designed to simplify how you earn cash from old electronics.
To sum up, Gizmogo provides an excellent platform for those looking to earn cash from old electronics. Whether it's the ease of use, competitive pricing, environmental responsibility, data security, exceptional customer service, or convenience, Gizmogo covers all bases for anyone looking to earn cash from old electronics.
Remember, the next time you find old gadgets gathering dust, turn to Gizmogo and seize the opportunity to earn cash from old electronics efficiently and effortlessly.
Forbes has written a good article about this.