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It's pretty much the same as with key stores, some are legit, others not.
As this is a service, there is no profit in wallet code distribution so some sites might inflate to take advantage of people who don't have a valid payment method or means of getting wallet funds into their account. In light of this I would only buy from a recognised online store where codes are activated upon a purchase.
This is a very easy way to scam users and very difficult for the victim to prove otherwise especially when dealing from a 3rd party site. Here is a list of retailers https://support.steampowered.com/kb_article.php?ref=1193-wlxv-6514 and others too - just avoid the grey market ones at all costs.
Sadly, it seems that the closest legit retailer is 500km away from me... It seems it's not worth risking buying off from grey market either...
When you see a place online that sells Steam Wallet codes, ask around, do some good research, you will either find good reviews or bad ones, or a bit of both (also a neigh) . That should tell you enough.
For extra security I always wait a week or two before spending those credits, just for safety sake.
If anything goes wrong, I can get my money back from my bank with the declaration of the site.