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!

[Karl_3000]

When will Cake wallet would add sub 1 sat/vbyte fee for transactions? If transactions of 0.2 say/vbyte can be getting confirmed, is that not a waste of money for 1 sat/vbyte which is 5 times higher in fee.

Latest update: Version 5.9.0
https://github.com/cake-tech/cake_wallet/releases

BNB and BNB token has been added. People can now hold BNB on Cake wallet.

Biometry access like fingerprint or face ID can be a disadvantage on the wallet for people that go for duress pin, only when you enter the duress pin that your wallet will be automatically deleted, fingerprint may not make this possible if you are under a wrench attack. People should not have too much coins on an online wallet but I think you should know this.

[cygan]

the new 6.0.0 version has been available as a pre-release for a few days now!
this version comes with a new, redesigned receive display and among other things, these new features:

• improved address type selector
• expanded display mode for better screenshots
• ability to label addresses
• dual crypto/fiat value when setting amount

it will most likely be ready soon, and the official release will be available shortly... until then, here is the pre-release: https://github.com/cake-tech/cake_wallet/releases/tag/v6.0.0

[Karl_3000]

the new 6.0.0 version has been available as a pre-release for a few days now!
this version comes with a new, redesigned receive display and among other things, these new features:

• improved address type selector
• expanded display mode for better screenshots
• ability to label addresses
• dual crypto/fiat value when setting amount

it will most likely be ready soon, and the official release will be available shortly... until then, here is the pre-release: https://github.com/cake-tech/cake_wallet/releases/tag/v6.0.0

I also noticed that there will be lightning bitcoin wallet through the via Spark protocol. This will make the wallets one of its kind that is support lightning payment.

It will also be good if the wallet also support 1 sat/vbyte sub fee.

[cygan]

few minutes ago, the new blog post about the long-awaited new Cake Wallet 6.0.0 release finally appeared!
as Karl_3000 already mentioned and as some of you probably already knew, lightning payments are now possible with this new version.
this blog article introduces you to all the lightning features that are now available with the new Cake Wallet: https://blog.cakewallet.com/lightning-is-finally-here/
a newer version than the 6.0.0 pre-release i have posted is not yet available on github...

[dkbit98]

few minutes ago, the new blog post about the long-awaited new Cake Wallet 6.0.0 release finally appeared!

I think v6 is currently only available for mobile devices, not for desktop.
This is major update for Cake wallet, interface is now totally changed and it might take some time to get used to it.
Lovers of lightning network (not me) can use it now, and I think they are using Breeze for that, so no need to think about channels.

[TryNinja]

Just want to say that I can't believe I wasn't aware of Cake wallet. I had to use Trust Wallet for months when dealing with LTC and a few other altcoins, then I found out about Cake when looking for a Monero wallet and it just looks a lot better.

With Lightning I will probably move out out Blue wallet as well (used it for LN).

[dkbit98]

Just want to say that I can't believe I wasn't aware of Cake wallet. I had to use Trust Wallet for months when dealing with LTC and a few other altcoins, then I found out about Cake when looking for a Monero wallet and it just looks a lot better.

With Lightning I will probably move out out Blue wallet as well (used it for LN).

Be careful with lightning on Cake, it's brand new and there could be some bugs.

As for swapping feature they used various different exchanges, but in latest release they split them into Decentralized Only and Best Rate (Mixed).
Word of warning about this, I think I heard Near Intents can freeze coins, even if they claim to be decentralized, so be careful with this.
I would stay away from swap feature, and there are better rates on other exchanges directly.