AudioQuest's Banana adapter is the easiest way to convert any speaker cable with spade terminations to bananas. Each banana is gold plated and literally bolts onto the spade providing a secure, gas-tight connection.
Audioquest Cable Design Theory (will open new browser window)
Yes. Due to the design of the adaptor the wire must have a spade termination to ensure a proper fit. This also provides a right angle connection to ensure strain on the wire is kept to a minimum.