Is Cenoa App Legit or Scam?

The Cenoa app is a fintech tool that allows users to save money in foreign currency, particularly USD-C, to protect their funds from the decreasing value of the local currency, Naira. It claims to offer a 5% annual interest rate to users, attracting many with its high referral bonuses and welcome incentives. However, users have reported encountering difficulties with withdrawals and experiencing errors within the app over time.

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The app is marketed as a non-custodial super wallet built on blockchain technology, meaning users have control over their accounts, theoretically allowing them to access their funds even if the app were to fail. However, recent user experiences suggest otherwise, with issues ranging from poor customer support to technical errors hindering the withdrawal process.

Benefits Of Cenoa App

  1. Global Dollar Account: Cenoa provides a convenient platform for everyone to access a global dollar account, allowing users to safeguard their money from inflation.
  2. Quick Account Opening: Users can open their Cenoa account in just 1 minute, from anywhere in the world, making it easy and accessible.
  3. Convenient Deposits and Withdrawals: Users can deposit and withdraw money easily from their local bank accounts, with the option to deposit and withdraw USDC stablecoin.
  4. Zero Fees for Currency Exchange: Cenoa offers transparent rates for currency exchange with no spread, commission, or mark-up, ensuring users get the real exchange rate without additional costs.
  5. Free Dollar Transfers: Sending dollars to anyone, anywhere in the world is free on Cenoa, with transactions processed instantly and conveniently using just the recipient’s phone number.
  6. High Yield Savings: Users can earn competitive yields on their dollar deposits, consistently higher than traditional banks, helping them grow their savings effectively.
  7. No Transaction Fees: Cenoa charges zero fees for various transactions, including opening an account, depositing, withdrawing, sending, converting currencies, and growing money, ensuring users can manage their finances without incurring extra costs or penalties.

Is Cenoa App Legit?

Cenoa app is a fintech app that allows you to save in USD. The app basically provides users with usdc wallets where they can save their money in USD to combat inflation since most emerging country currencies are losing value daiily. From our review and after using the app, we discovered that it is a legitimate app. Also, there are a lot of users who are having issues with withdrawing their money after depositing. This is mostly due to the fact that those users misplace their wallet seed phrase which is a sequence of 12 or 24 random words that is required before you can place ithdrawals. When you create a cenoa account, ensure you keep your seed phrase carefully in a safe place as you can lose your money if you lose your seed phrase.

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