Today’s review rays are falling on Spenda, an app that allows you to convert crypto to cash in a jiffy.

Following the rise in P2P scams in recent times, traders are looking for other ways to convert their crypto to cash.

In this post, I will tell you all you need to know about the Spenda app and how it works.

Grab your popcorn and let’s dive in.

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Why Spenda When We Have P2P? – My P2P Scam Story

Since the CBN’s directive to banks regarding cryptocurrency in 2022, many Nigerian traders (including yours truly) have resorted to P2P to access cash.

Many platforms included the P2P service to cater to their users, and all was going well until the bad guys showed up.

Let me share a personal experience:

I still remember the day clearly — a regular Thursday afternoon in PH.

I had just received a payment from a freelance gig and wanted to convert $500 worth of USDT to naira.

As usual, I headed to one of the popular P2P platforms Nigerians use.

I found a buyer with a decent rate, plenty of positive reviews, and a “verified” badge. Everything looked perfect.

I clicked on the ad to sell and waited for payment to be sent.

5 minutes.
15 minutes.
20 minutes.

The next thing I saw was the prompt to release coins.

I chatted him up, and he sent me a fake proof of payment.

Then I rechecked with my bank app and saw that no money had come in.

Before I could say ‘Jack’, the buyer had gone to appeal the trade with his proof of payment.

At the end of the day, the coins were released to him by the appeal team.

I messaged him — no reply. Suddenly, I noticed he had deleted his account.

My heart sank.

Checking with my bank, it was found to be a mule account — probably used just once for fraud.

Just like that, $500 gone.

I felt stupid.

Angry.

But most of all — helpless.

While I was venting to my colleagues at work, someone mentioned Spenda

That day changed how I handle crypto-to-naira conversions.

Since switching, I’ve slept better knowing I’m no longer one “sweet rate” away from losing my hard-earned money.

But, what exactly is Spenda?

I answered that in the section below.

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1. What is Spenda?

Spenda is a Nigeria-based crypto-fintech app designed to make crypto as easy to use as cash.

It allows users to convert cryptocurrencies like USDT directly into naira (NGN) and instantly spend them via bank transfers, utility payments, or virtual cards.

The app is built for Africans, especially freelancers, traders, and remote workers who get paid in crypto.

Spenda eliminates the hassles of peer-to-peer (P2P) exchanges by offering speed, security, and simplicity.

No Telegram strangers.

No WhatsApp “trusted sellers.”

Spenda uses direct liquidity, no P2P middlemen, and funds land directly to your Nigerian bank account — fast and secure.

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2. Spenda Key Features

Here are some of the standout features of the Spenda app:

• Instant crypto-to-naira conversion
• Virtual USD & NGN cards for online spending
• Mobile airtime & data recharge
• Utility bill payments for electricity and TV subscriptions
• Instant bank withdrawals to any Nigerian bank
• Secure platform with KYC, encryption, and 2FA
• Real-time market rates with low fees
• Referral program

All these features are packed into a clean and user-friendly mobile app, available on both Android and iOS.

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3. Services of Spenda

Spenda goes beyond just converting crypto to cash.

Here’s what you can do with the app:

i. Bank Transfers

Convert your crypto (mostly USDT) and instantly withdraw naira to your Nigerian bank account.

ii. Airtime and Data Purchase

Recharge mobile airtime and data directly from your crypto wallet for all major telecoms in Nigeria (MTN, Airtel, Glo, 9mobile).

iii. Electricity and Cable TV

Pay electricity bills (IKEDC, PHED, etc.) or renew DStv, GOtv, and Startimes subscriptions using naira or crypto balance.

iv. Virtual Cards

Create and fund virtual USD or NGN cards for paying for Netflix, Amazon, Spotify, Apple services, or making online purchases internationally.

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4. Supported Currencies

The supported coins include:

• BTC
• USDT
• USDC
• ETH
• BNB
• SOL
• TRX
• TON
• Naira (NGN) for fiat output
• USD for virtual cards

Exchange rates for the coins are updated every 30 minutes to ensure that your deposits are converted with the best rates.

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5. Transaction Fees

Spenda offers transparent and competitive pricing:

• Conversion fees: Very low and displayed upfront before each trade.
• No hidden charges: What you see is what you pay.
• Exchange rates: Real-time and fair, often better than P2P platforms.

Users appreciate that there are no surprises during transactions.

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6. Deposit and Withdrawal Fees

Deposits:

• Crypto deposits (USDT): Free of charge.
• Funds usually appear within 1–3 confirmations, depending on network speed.

Withdrawals:

• Naira bank withdrawals: Very fast—often completed in under a minute.
• Withdrawal fees are minimal and stated clearly before confirmation.

This makes Spenda ideal for everyday cash-outs without the friction of unreliable P2P vendors.

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7. Supported Countries

Spenda is currently focused on Nigeria, offering local services tailored to Nigerian users:

• Naira payouts to all Nigerian banks
• Telecom support for Nigerian networks
• Utility bill options for Nigerian providers

While it is not yet a global app, it’s 100% optimized for the Nigerian market.

Expansion to other African countries is in the pipeline.

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8. Customer Support

Spenda offers reliable and responsive support through:

• In-app live chat
• Email support: support@spenda.africa
• Social media channels: Twitter, Instagram, and YouTube
• Help articles inside the app

Users report fast replies and real-time help for issues related to deposits, KYC, or card funding.

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9. FAQs about Spenda

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10. Is Spenda Better Than P2P?

Absolutely—yes, for most users.

If you’ve ever dealt with delayed P2P trades, unreliable buyers/sellers, or hidden fees, Spenda offers a much smoother alternative.

With its instant conversions, bill payments, and bank transfers, you no longer need to rely on P2P platforms to access your funds.

Pros of Spenda over P2P:

• No need to trust strangers with money
• No risk of scams or blocked funds
• Faster settlements—often instant
• Direct utility services in-app

Whether you’re a freelancer getting paid in USDT, a crypto investor looking to off-ramp funds, or a Nigerian simply wanting to spend your crypto on real-life needs, Spenda is the most reliable option available today.

Sign up code: 8A4USGA7

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11. Conclusion

Here, I draw the drapes on the post of today. Hope it was a worthy read.

Spenda poses as a better option to P2P, especially for Nigerian traders.

But while at it, ensure you are downloading the right app to avoid being defrauded.

Now, let me hear from you:

What are your thoughts on Spenda?

What are your experiences using the app?

Is it something you would recommend or you will still pick P2P over it?

Share your answers in the comment box below. I will be checking back for them.

Also, share this post with friends and your community; someone might need it.

Till my next post, hodl on… WAGMI