Cake wallet - Discussion and News

[Karl_3000]

I opened this thread, originally asking for reviews, however, I don't use the wallet. I'm thinking that if you want you can keep discussing about Cake Wallet and I'll be very interested in seeing the latest developments.

I'll change the thread title to something relevant.

That is good.

The wallet is supporting more coins now, maybe you can add the remaining supported coins. Or maybe you do not add it because this board is for bitcoin discussion.

These are the list of coins that have been added that you did not include yet:

Solana (Sol)
Zcash (ZEC)
Doge (DOGE)
Base(BASE)
Arbitrum(ARB)
Nano(XNO)
Decred (DCR)
Zano (ZANO)

You can edit PTron to Tron.

The main reason I am using the wallet is because of bitcoin. I have been unable to make use of sub 1 sat/vbyte fee for bitcoin transaction, I hope this would be possible very soon. It will not be good for people to be wasting money on fee when they can pay far lesser in fee

[apogio]

I opened this thread, originally asking for reviews, however, I don't use the wallet. I'm thinking that if you want you can keep discussing about Cake Wallet and I'll be very interested in seeing the latest developments.

I'll change the thread title to something relevant.

That is good.

The wallet is supporting more coins now, maybe you can add the remaining supported coins. Or maybe you do not add it because this board is for bitcoin discussion.

These are the list of coins that have been added that you did not include yet:

Solana (Sol)
Zcash (ZEC)
Doge (DOGE)
Base(BASE)
Arbitrum(ARB)
Nano(XNO)
Decred (DCR)
Zano (ZANO)

You can edit PTron to Tron.

The main reason I am using the wallet is because of bitcoin. I have been unable to make use of sub 1 sat/vbyte fee for bitcoin transaction, I hope this would be possible very soon. It will not be good for people to be wasting money on fee when they can pay far lesser in fee

I will update the OP, thanks!

[dkbit98]

Cake wallet really improved in latest version, especially in desktop version.
Most coins are syncing faster now, and more coins can be grouped with the same seed phrase.
Only thing that is not working correctly for me on desktop app is Payjoin showing as unavailable.

[Kruw]

Cake wallet really improved in latest version, especially in desktop version.
Most coins are syncing faster now, and more coins can be grouped with the same seed phrase.
Only thing that is not working correctly for me on desktop app is Payjoin showing as unavailable.

Why are you using Cake even though you know they do chain analysis and KYC their users?

They aren't reputable at all - Cake Wallet partners with KYC scammers

I don't support KYC crap

[Karl_3000]

Cake wallet really improved in latest version, especially in desktop version.
Most coins are syncing faster now, and more coins can be grouped with the same seed phrase.
Only thing that is not working correctly for me on desktop app is Payjoin showing as unavailable.

Why are you using Cake even though you know they do chain analysis and KYC their users?

They aren't reputable at all - Cake Wallet partners with KYC scammers

I don't support KYC crap

What part of Cake wallet request for KYC?

I have gone through the terms of use of the wallet but I did not see anything like KYC requirement there: https://cakewallet.com/terms/

The wallet even has Tor:

[Kruw]

I have gone through the terms of use of the wallet but I did not see anything like KYC requirement there: https://cakewallet.com/terms/

Here you go:

To access the App or some of the resources it offers, you may be asked to provide certain registration details or other information. It is a condition of your use of the App that all the information you provide on the App is correct, current, and complete. You agree that all information you provide during the use of this App or otherwise, including, but not limited to, through the use of any interactive features on the App, is governed by our Privacy Policy, and you consent to all actions we take with respect to your information consistent with our Privacy Policy.

[Karl_3000]

Here you go:

To access the App or some of the resources it offers, you may be asked to provide certain registration details or other information. It is a condition of your use of the App that all the information you provide on the App is correct, current, and complete. You agree that all information you provide during the use of this App or otherwise, including, but not limited to, through the use of any interactive features on the App, is governed by our Privacy Policy, and you consent to all actions we take with respect to your information consistent with our Privacy Policy.

I do not know what they meant as registration details, but it is very possible this can be related to KYC, like in UK and EU countries. Since I have been using the wallet, I have not been required KYC. The reason I later was encouraged to use it is because I noticed nobody is complaining seized of their coins during swapping.

[LoyceV]

To access the App or some of the resources it offers, you may be asked to provide certain registration details or other information.

Does it come with a built-in exchange? In that case it would make (some) sense. Other than that, if I install a non-custodial wallet on my computer, and I have access to my keys, I have no reason to share KYC information with them.

[Kruw]

I do not know what they meant as registration details, but it is very possible this can be related to KYC, like in UK and EU countries. Since I have been using the wallet, I have not been required KYC. The reason I later was encouraged to use it is because I noticed nobody is complaining seized of their coins during swapping.

Cake users do get their coins seized, sethforprivacy says "There's no working around that as a company "

https://x.com/sethforprivacy/status/1861838715049615833

[apogio]

Does it come with a built-in exchange? In that case it would make (some) sense.

It comes with a swap feature: https://docs.cakewallet.com/features/basic/swap/

Apparently they use third-party software, so if the third-party exchange needs KYC, they'd need to ask for KYC from their clients.

Again, the problem is not the KYC, but the fact that services and apps keep changing their rules arbitrarily and without any solid justification and you don't know what to expect. One day you wake up and you swap 0.1BTC for XMR easily, the other day you wake up and they request for KYC.

If I have to do KYC, I need to know in advance, so I can choose whether I'll voluntarily give my data, or not.

[LoyceV]

If I have to do KYC, I need to know in advance, so I can choose whether I'll voluntarily give my data, or not.

Exactly. In that case I'd choose a well known fully compliant exchange, and not some unknown intermediary through a wallet. But I get that this is the business model. Isn't it amazing that Electrum has been working fine for all those years without any advertising or affiliates in the software?

[dkbit98]

Why are you using Cake even though you know they do chain analysis and KYC their users?

This is simply NOT true.
I use Cake wallet for years as wallet, not as exchange, it's non-custodial wallet, and I was never asked for anything.
They are using third party exchange partners for swap feature or for gift cards, and that can be selected or changed manually, but I don't use that.

[pooya87]

Why are you using Cake even though you know they do chain analysis and KYC their users?

This is simply NOT true.

When the Wasabi advertising team realized there is just no way they could justify their own cooperation with anti-privacy chain analysis companies that de-anonymized bitcoin transactions of Wasabi users, they decided to start attacking other projects on the internet. They hope to make the illusion in their users minds that its okay to cooperation with such companies because everyone else is doing it!