Zabira Review: All-in-one Crypto App or Scam?

In my search for where to buy and sell crypto locally, I stumbled upon this All-in-one Fintech App called Zabira.

Not only did I find a crypto exchange with good rates, I also found out that they offer gift cards as well as bills payment.

They seem to be Afrocentric, as they also serve users in Ghana and Kenya.

My first impression was that Zabira is another Quidax-like service, but I've discovered that they offer even more Fintech features and services.

Well, I'll now take a proper look at Zabira to ascertain if it's worth using as a Fintech app for Nigerians or if it's another scam in disguise.

Maybe you might find this app useful for your everyday financial transactions.

Let's get right to it.

How Does Zabira Work?

Zabira works like an exchange platform. Users can exchange their crypto and gift cards for cash, and vice versa. They can also use their wallet balance to make local bills payments.

The service is really straightforward and everything is clearly stated. The rates, the cryptos, the payment options, etc.

You could buy your first crypto via this app, or quickly sell your gift card for cash.

How Can You Get Started with Zabira?

To get started on Zabira, you'll have to verify your email and phone number, then you register a profile.

I find it interesting that they didn't request for more details at this stage, which allows users to test the app first before deciding if they want to move forward with the app and provide more personal details.

Many fintechs in Nigeria would require a BVN to open an account, and I think this leads to a lot of users abandoning their registration.

Well, not so with Zabira, as I was able to register an account without a BVN to try out their service.

Is Zabira Real or Fake?

The service seems to work well, so it's real from my end.

After signing up and browsing the app, I tried to make payment for my prepaid electricity, and it seems to work.

With this feature, I could pay for my electricity and the cost would be charged directly from my Zabira wallet.

How Can You Make Money With Zabira?

Interestingly, Zabira is not just an app for exchanging crypto and making payments. Users could make money via a few features on the app.

If you've noticed, there is a rewards icon on the list of services on the Homepage. If you click that rewards icon, you'll land on the rewards page where you can copy a unique referral link with which you can refer others and make money.

So, you can start referring new users to Zabira and earn over 5,000 Naira.

Also, if you're creative, you could use the Zabira app as a merchant to offer crypto and gift card exchange services to others and make money.

You could even do crypto arbitrage if you notice any significant disparity between prices on popular exchanges and Zabira.

How Much Does Zabira Charge?

Zabira doesn't charge users directly for services. Instead, charges are embedded in price offers available on the app.

To check for current prices and rates, simply click on the rates icon on the homepage.

You'll then land on the rates page that lists the rates for gift cards and crypto, as well as some hot deals.

All exchange rates are listed in local currencies of Naira, Cedis, and Kenyan Shillings.

I noticed a big difference though between the Zabira exchange rate and the available rate for p2p.

For example, today's sell rate for USDT on p2p is averaging over 1,750 Naira but on Zabira, you can only sell for below 1,700 Naira.

I guess that's where they add their charges to be able to make a profit.

Is Zabira Legit or Scam?

The service looks legit from my end, but it's up to you to make your own due diligence before using them.

You could start using their minor features like bills payment, then if you enjoy the service, you could start using their crypto and gift card exchanges.

Honestly, I believe that If a company is able to expand into 3 major African countries and stay operational, then you know that they are probably serious about their service.

Positives About Zabira

From the start, the app is simple to use. Right from the user onboarding, you already have access to all the features and can clearly see what you are to pay and what you can expect to get.

I also like that they combine exchange services with bills payment, which makes them a sort of all-in-one fintech app. Maybe not yet, until they launch their virtual card service.

I think that there's a need for that, as some users like me prefer to do all their financial transactions in one place.

Negatives About Zabira

Well, the only thing that puts me off with Zabira is their exchange rates. But that is understandable, as they have to charge users to provide their services.

However, some users might find this unfavorable. For example, their gift card rates were so low that one may think the rates are obsolete.