Spenda describes itself as a crypto spending app: deposit crypto, pay bills, spend on a virtual card. Monica does one job, crypto to naira in your bank, and nothing else. Here is how the two compare on the things that decide where your money goes, checked against spenda.africa in October 2026.
Checked October 2026
| What matters | Monica | Spenda |
|---|---|---|
| How you sell | Copy your address, send, done. No sell button. | Three steps on spenda.africa: "Copy your Spenda Address", "Send from any wallet/exchange", "Receive Naira instantly" (crypto deposit page). No sell button: deposited crypto "auto-converts to Naira" (FAQ). |
| Payout to your bank | Within 60 seconds of on-chain confirmation | "Instant bank transfers. Arrives in seconds" (spenda.africa). |
| Fees | 0% conversion, 0% withdrawal. Free deposits on USDT, USDC, ETH, SOL, TRX and BNB; flat $2 on Bitcoin. | Up to 0.9% deposit fee, shown in the Spenda app (checked October 2026). No fee figure is published on spenda.africa; the site says "Competitive exchange rates" and its terms say fees are "displayed to you within the Application before you confirm a transaction" (terms of use). |
| Coins and networks | 7 coins: BTC, USDT, USDC, ETH, SOL, TRX, BNB | Not published on spenda.africa (checked October 2026). FAQ: "only tokens and networks shown on the Deposit page" (FAQ). |
| Minimum deposit | No minimum deposit | "No minimum or maximum" crypto deposit (spenda.africa FAQ). |
| Counterparty | None. Monica pays from its own settlement account. | None stated. FAQ: "Deposit supported crypto and it auto-converts to Naira" (spenda.africa). |
| Google Play reviews | 4.5★ · 13,000+ on Google Play | Not quoted here; see their Google Play listing |
| Nigerian SEC posture | VASP-framework aligned | Not published on spenda.africa (checked October 2026). The about page cites data protection "overseen by the NDPC" (about page). |
| Other products | Bills, virtual dollar card | Naira deposit, Visa platinum card, stablecoin transfers, airtime, bills (spenda.africa). |
Checked against each company's own website and app store listing in October 2026. In-app fees were read from each app on 14 October 2026 and can change without notice. Competitor claims are their own. Monica is a direct crypto to naira off-ramp operated by Monica Technologies Limited, Lagos.
Monica charges a 0% conversion fee and a 0% bank withdrawal fee. Deposits are free on USDT, USDC, ETH, SOL, TRX and BNB, with a flat $2 fee on Bitcoin deposits (see our fees page). Spenda shows a deposit fee of up to 0.9% in its app (checked October 2026) and publishes no fee figure on spenda.africa; its terms say fees are displayed in the app before you confirm a transaction. Check the rate each app shows you for your own amount.
Monica pays naira into your bank within 60 seconds of on-chain confirmation. Spenda's site says instant bank transfers, arrives in seconds, and its deposit page says receive naira instantly once your crypto deposit is in. Both wait for the blockchain to confirm your deposit first.
Yes. Many sellers do. Your Monica address does not change, so you can send to it from any app or wallet.
If you want to hold naira in the app, fund it by bank transfer, and spend from a Visa card, Spenda is built for that and Monica is not. If you want crypto turned into naira in your bank with nothing in between, that is Monica's only job.