New to Cenoa? Let’s Answer Your Most Pressing Questions
First things first, welcome to Cenoa. We appreciate the fact that you’ve decided to go on this journey with us, and we want to make it really simple for you to make this journey. When new users like you come along, they often have a series of questions. In this post, we explore the most popular of these questions so that you don’t have to ask them again.
New to Cenoa? Let’s Answer Your Most Pressing Questions
First things first, welcome to Cenoa. We appreciate the fact that you’ve decided to go on this journey with us, and we want to make it really simple for you to make this journey.
When new users like you come along, they often have a series of questions. In this post, we explore the most popular of these questions so that you don’t have to ask them again. We will breakdown, step-by-step, how to do simple things like depositing money, withdrawing money, transferring money to someone else or backing up your wallet.
Enough talk, let’s get into it.
1) How Do I Deposit Money in my Cenoa Account?
Adding money to your Cenoa Account or Wallet is one of the most important ways to truly appreciate the value of the Cenoa App. Whether you want to start saving in dollars or earn returns from investing your digital dollars, this first step is crucial.
- From the homepage of your app, you can tap on the “＋” button with “Deposit” written underneath.
- This action will take you to the deposit page where you get to choose from three different options, depending on whether you want to deposit Naira/Dollars or USDC/USDT.
- If you’re depositing Naira/Dollar, tap on the first option or second option. With the first option, a BVN verification process is required but the second option doesn’t require this. Follow the prompts, complete your deposit and wait for a few minutes for the transaction to reflect on your homepage.
- If you’re depositing USDC/USDT, tap on the last option and initiate your deposit by selecting the correct chain/token pair. Cenoa currently operates on Polygon, so keep this in mind when depositing. Select the relevant chain and token and input the amount you want to deposit. Tap on “Continue” and crosscheck the information in the next page, copy the wallet address and check the required boxes. After completing the transfer, tap on the “I made the transfer” button and wait for your transaction to reflect.
*Depositing money on Cenoa usually takes a few minutes, depending on the status of the network or service providers at the time. If you encounter any issues, you can always send us a message on WhatsApp.
2) How Do I Withdraw my Money to my Bank Account?
Now that we’ve covered how to deposit money to your Cenoa account, let’s look at how you can withdraw your money into your bank account for FREE.
- From the homepage of your app, tap on the “Transfer” button beside the “Deposit” button and select “Send to your bank account”.
- Next, enter how much you want to withdraw and tap on the “Continue” button.
- Check the information on the next page, tap on “Continue” and then “Slide to Complete”.
- This process is quite fast and usually takes less than 2 minutes to complete in normal conditions.
3) How Do I Transfer Money to Someone?
Is your friend or sibling in urgent need of money and they’ve reached out to you to send them some?
Or maybe you’re about to pay for lunch or for a service someone rendered to you, but you don’t have cash in your account, you can quickly send them money from your Cenoa wallet and they’ll be able to confirm receipt within 5 minutes.
- First, from the homepage of your app, tap on the “Transfer” button beside the “Deposit” button and select “send to someone’s Cenoa”, if they are a fellow Cenoa user, or “Send to someone’s bank account”, if they don’t use Cenoa.
- Follow the prompts in the next page, depending on what option you’re using and confirm receipt within 5 minutes.
- With these options, you can send money to anyone, irrespective of where they are.
4) What is Backup and How Do I Do It?
For Cenoa users, we have provided multiple account security measures to ensure your funds are safe. First, you can secure your mobile app using passwords and biometrics (facial or fingerprint recognition) to protect your account from unauthorised access.
We have also provided you with easy-to-use non-custodial wallets and a private key you can backup automatically to your Google Drive in 3 easy steps:
- Tap the “Settings” button at the bottom of the homepage in the app
- Next, tap on the “Backup your Cenoa Key” button
- Lastly, tap on the Google Drive backup option to initiate the backup.
This action ensures that you’re never locked out of your Cenoa wallet.
5) How does the 5% Yield Work?
In order to give you more value for your money, our treasury team puts your money to work in blue-chip assets that are considered to be outstanding and certified reliable by multiple regulatory bodies.
The 5% returns on your funds are accumulated annually. This means that you gain a little more on your funds every day, accumulating a 5% yield in one year. However, you can withdraw your funds anytime you want, but it is always advisable to invest for the long-term.
Our investment & treasury team is made up of seasoned professionals, led by Berkay Kangal, a former VP at Deutsche Bank, who has over 15 years of expertise in trading, risk and treasury management in global tier-1 banks and funds.
6) How to Contact Customer Support
Need help? Reach out to Cenoa Support Team through any of the following steps:
