Spenda is a mobile application that is designed to enable users convert their crypto assets to Naira instantly without having to pass through the rigor of doing P2P with agents in a poorly regulated system; as what is obtainable in most cryptocurrency exchanges. As someone who often deals in crypto related projects, I decided to test out the spenda App and in all honesty, I’ve never using P2P again!

If you are the kind of person who often indulges in transactions or deals that make you convert crypto to naira from time to time, this article which doubles as my review of spenda App is certainly for you. So I would advise you to sit tight and read all I have to say about the app as we’ll be having a look at both the pros and the cons as well (if any) to enable you make an informed decision whether or not to give it a try.

Before we commence though, I would like to state that this publication was not in any way sponsored or paid for by Spenda. If you have been following my publications for a while, you will know I often publish honest review contents that are entirely based on my analysis or usage of a service or platform. Same applies to this.

What is Spenda App & How Does It Work?

Spenda is a mobile application that allows users convert their crypto assets to Naira swiftly bypassing the traditional methods of having to put up your assets for sale on a P2P system and also manually confirm transactions when you get paid by the agent matched to you.

Spenda saves you from the whole process that most so-called crypto experts are already used to and a good number of individuals have lost money to; when they get matched to receive money from a dubious p2p agent.

Apart from just being an app that enables you convert your crypto to naira instantaneously, spenda also makes it possible for users to spend their received earnings on Bill payments as they provide many other features such as option to buy data, airtime, pay electricity bills and many other day-to-day bills.

Spenda is a true embodiment of their name which can be loosely described as “Spender“.

You may be wondering how this is done or how it’s possible. Well here is a general idea.

As a customer, you will be provided with an intuitive dashboard, where you will see a bold Deposit and Transfer button. You click on Deposit to access all the crypto assets they currently support. If you want to convert your assets or you are expecting some USDT or BTC from any other vendor or exchange, simply copy the address of same crypto from your spenda wallet, and use it for the withdrawal.

Once the money arrives on spenda, it will be instantly converted to Naira and can be sent out to any local bank account or use for bill payments. You get the idea now right?. 😀

Features of Spenda App

1. Instant Bank Transfers – Convert crypto and send money directly to any bank account in seconds.
2. Seamless Bill Payments – Pay for airtime, data, electricity, TV and many more.
3. USD Virtual Cards – Fund virtual USD cards with to shop online, subscribe to services, or make international payments.
4. Fast & Low-Cost Transactions – Enjoy competitive rates and low fees, making crypto spending easier and more affordable.
5. Secure & Reliable – Your transactions are powered by secure blockchain technology, ensuring safety and speed.

How to Get Started

The first step is to download spenda Application either on Playstore or App store for iOS users.

After downloading spenda, proceed to create an account using your real details and this code – 281HWHM3 — I mean, there is no point using fake details because as a registered and licensed financial institution, users who wish to fully participate have to complete Know-Your-Customer Verification. So it’s pointless using unoriginal details.

When you’re done signing up, proceed to login and complete your KYC using your BVN and also complete the Selfie or Liveness check.

Upon completing the KYC process, you can now click on Deposit, locate the Crypto assets you wish to send money to and copy the address. At the time of writing this article, spenda literally supports all the notable cryptocurrencies and networks. So you will have little to no problems in that regard.

Use the address copied from spenda to withdraw from your third party exchange or receive money from any vendor. The money will be instantly converted to Naira once it arrives on the app.

Once it arrives, you are now left with two main options, use it to pay bills or simply transfer it to your bank account.

Other Ways of Earning On Spenda

Presently, there is just one way to earn some little income on spenda and it’s by referring others.

The referral program is profitable to an extent because, you get to earn 20% of whatever transaction done by your referrals for a lifetime or better put, for as long as the referral program lasts. Additionally, your invited referral also earn 1,000 welcome bonus when he or she uses spenda to receive at least $10 and above.

So the reward is a two-way thing and considering the wonderful service they render, I see no reason why anyone wouldn’t jump on it.

To get your referral link, simply click on Account, you will see the refer and earn option, tap on it, copy your referral code and share to people who you feel may be interested in it.

How to Withdraw

Like I said, you either use it to pay bills or withdraw to your bank account. To send out your received funds, click on Transfer, add your bank account details, enter the amount and submit.

Payments are actually processed instantly as stated on their about section on application stores. It’s not just a claim, it’s reality. I withdrew money and got it instantly. It took less than two minutes.

Is Spenda Legit Or Scam?

Spenda is a legit crypto-to-naira application and to be honest, it’s the best I have seen so far especially when compared to the previously reviewed applications.

Why did I say so? Well, firstly, they support many other crypto assets than what is obtainable on some other exchange apps like Cash-in. This is not a comparison publication though, so I don’t want you to miss the point.

I am just stating things as they are. Spenda makes it possible for you to instantly convert numerous cryptocurrencies to local currency and the fact that they support so many assets, makes it very flexible and enticing to many including myself.

Secondly, spenda rates are very commendable. Their rates are refreshed every few minutes to ensure users get the best possible rate and since rate disparity and quest for higher rate is one of the key reasons why people opt for p2p, they perfectly fill the gap in that regard as well.

What’s even more interesting, there is a rate calculator on the app to enable users know what to expect when they send a certain amount of crypto to the app.

Finally, their payment system is instant and superb. The dashboard is easy-to-use and understand even for people who are new to cryptocurrency and also, the payment is instantly processed to the account used in making withdrawals.

Pros

Here is a summary of the pros or potential benefits of using spenda for your crypto to naira conversions;

• Reasonable exchange rates
• Easy-to-use interface
• Instant payment processing
• Reasonable referral program
• Bill payment feature
• Rate calculator

Cons

Is there anything bad or negative about spenda from my assessment? The answer is no. A simple user who just wants to convert his or her crypto to naira wouldn’t have any issues using the service. It’s very nice even for people with profound experience.

Conclusion

Spenda App is certainly a go-to for people who are looking for easy, scam-free ways to swap their crypto to naira instantly. We’ve come to the end of this article, if you enjoyed it, do well to join us on telegram for more reviews and publications.

Thanks.