July 21, 2024

Cenoa App Review | Is it Legit or Scam?

The Cenoa app is a powerful financial tool designed to help people combat inflation and safeguard their savings against devaluation. It serves as a borderless super wallet, making it easier for users to access dollar-based products and earn higher yields on their savings without the hassles and fees associated with traditional banks.

Cenoa addresses the pressing issue of inflation, especially in emerging markets where billions of people are grappling with rising living costs and currency instability. By providing a digital dollar product with no fees and a fair yield, Cenoa empowers individuals to protect their assets and enhance their savings growth.

Unlike traditional banks, Cenoa operates as a software and technology company, offering a non-custodial blockchain wallet that simplifies currency exchanges and eliminates paperwork. With the support of prominent investors and a commitment to innovation, Cenoa aims to expand its financial solutions beyond its initial offerings, promising even greater benefits for users in the future.

How Cenoa App Works

The Cenoa app operates as follows:

  1. Wallet Creation and Funding: New users are provided with a wallet address linked to the blockchain. They fund their accounts in local currency through Cenoa’s local partners to initiate their investment journey.
  2. Blockchain Storage: Users’ funds on Cenoa are securely stored on the blockchain. These funds are not locked in, allowing users to withdraw their capital and profits at any time and transfer the money as needed.
  3. Yield Calculation: Users can see the percentage of yield they will earn from their investments over a specific period, currently set at five percent annual yields.
  4. Non-Custodial Design: Cenoa operates on a non-custodial basis, utilizing smart contracts stored on the blockchain. These contracts automate the execution of agreements, ensuring that interests are guaranteed as liquidity companies have already paid the interest.
  5. Regular Smart Contract Reviews: Cenoa reviews its smart contracts every three months to adjust interest rates and dollar rates in line with market trends, ensuring users receive competitive returns.
  6. Flexible Savings: Since funds are not locked in, users are attracted to Cenoa as a savings option offering a guaranteed return on investment without penalties for early withdrawal.
  7. Cost-Free Transactions: Cenoa distinguishes itself by offering cost-free transactions, a rarity in financial interactions and blockchain trading. Unlike traditional blockchain transactions that attract gas fees, Cenoa transactions are exempt from such charges, enhancing user affordability and accessibility.

Is Cenoa App Legit

Yes, cenoa app is a legitimate fintech app that allows users save in Usd. The app is targeted at emerging countries like Nigeria where their official currency get devalued daily due to high inflation. The app is a solution to anyone in those countries looking to hedge against inflation.

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