Cake wallet - Discussion and News

[Karl_3000]

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.

All the exchanges on cake wallet have a website, you can visit their websites, all of them are not decentralized exchanges. The Near Intent is just another swap exchange that has control over your coins after you send coin to the address the exchange provide.

I do not like that Cake wallet included ChangeNow which is an exchange with bad reputation on this forum.



But I am not using the swap on Cake wallet.

[TryNinja]

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.

Of course, I see no point in storing big amounts on lightning. I usually have less than $20 just because sometimes I need to buy something here or there, and LN is actually pretty convenient with the basically zero fees.

I wouldn't use any wallet swap function either. We have some good swap options on the forum (b1exch, sageswap, cce...).

[apogio]

Of course, I see no point in storing big amounts on lightning. I usually have less than $20 just because sometimes I need to buy something here or there, and LN is actually pretty convenient with the basically zero fees.

It's essentially the only efficient way to use bitcoin rapidly with zero fees. On-chain fees are rediculously low as well, but confirmation times can't work well if you wanna buy a coffee from your local bakery or coffee shop.

[Forsyth Jones]

It's essentially the only efficient way to use bitcoin rapidly with zero fees. On-chain fees are rediculously low as well, but confirmation times can't work well if you wanna buy a coffee from your local bakery or coffee shop.

This problem can be solved if the merchant sees that they received a transaction with a secure fee within the acceptable range of estimated rates at that moment, especially nowadays where fees are ridiculously low.

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.

I haven't yet had the pleasure of using Cake Wallet (I only downloaded it on my tablet a few months ago, but haven't received any transactions yet), but I'm seeing from X's posts like this that it's becoming visually very beautiful. Will it one day surpass Bluewallet in popularity (or has it already)?

Of course, I see no point in storing big amounts on lightning. I usually have less than $20 just because sometimes I need to buy something here or there, and LN is actually pretty convenient with the basically zero fees.

I wouldn't use any wallet swap function either. We have some good swap options on the forum (b1exch, sageswap, cce...).

Regarding Lightning BTC and BTC onchain, whenever I need to convert one to the other, I don't use any third-party wallet provider, I use boltz.exchange, and it's not that expensive (1.5% transaction fee or even less maybe).

[Pmalek]

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.

I wouldn't consider Cake to be my main bitcoin-only wallet. It's an alternative at best if you are only dealing with bitcoin. There are already several bitcoin-only wallets that support sub 1 sat/vByte transactions, such as Electrum, Sparrow, Trezor Suite, Core, Blue Wallet, and maybe others that I am not familiar with. To me, Cake is a good multicoin wallet and better than the usual Trust Wallet/Exodus, etc. recommendations if you are dealing with altcoins.   

[Karl_3000]

I wouldn't consider Cake to be my main bitcoin-only wallet. It's an alternative at best if you are only dealing with bitcoin. There are already several bitcoin-only wallets that support sub 1 sat/vByte transactions, such as Electrum, Sparrow, Trezor Suite, Core, Blue Wallet, and maybe others that I am not familiar with. To me, Cake is a good multicoin wallet and better than the usual Trust Wallet/Exodus, etc. recommendations if you are dealing with altcoins.   

Cake has almost all the features that bitcoin wallets should have, it is different from most other multiple coins wallets. Unstoppable is also very close to it.

Yes, Cake wallet is a good altcoin wallet but I am also using it for bitcoin. If many bitcoin nodes can be supported the 1 sat/vbyte sub fee, I did not think it should be hard for the wallet to support that. But I noticed that no altcoins wallet that I know that is having the 1 sat/vbyte sub fee but Cake is a Pro bitcoin wallet it compared to many other altcoins wallet. People can manually add a node on Cake wallet, all what we need is Cake to let us be able to use the lesser than 1 sat/vbyte fee and not relay such transaction on nodes that does not support it.

[Alpha Marine]

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

But you know this is not true, so why are you saying it? Cake wallet has never asked me for any KYC information. My seed phrase and the password to the app are the only things that are required. How will a non-custodial wallet ask for KYC? You don't need to spread such lies if you havent use the wallet before.

Even the swap services I used, they didn't ask for KYC. I simply swapped the coins and received them in the wallet I provided. I don't know where you got the information that Cake Wallet asks for KYC, but it is not true at all.

[Kruw]

Even the swap services I used, they didn't ask for KYC. I simply swapped the coins and received them in the wallet I provided. I don't know where you got the information that Cake Wallet asks for KYC, but it is not true at all.

I got the information that Cake Wallet asks for KYC from their CEO and their COO: https://x.com/Kruwed/status/1924628783929123217

[Pmalek]

People can manually add a node on Cake wallet, all what we need is Cake to let us be able to use the lesser than 1 sat/vbyte fee and not relay such transaction on nodes that does not support it.

If you can manually add bitcoin nodes that you will connect to when using Cake Wallet, then you can add a node that supports and relays below 1 sat/vByte transactions. In theory at least. Maybe they have some restrictions. If you could add an Electrum server, it would be even easier to broadcast cheap transactions.

[Karl_3000]

If you can manually add bitcoin nodes that you will connect to when using Cake Wallet, then you can add a node that supports and relays below 1 sat/vByte transactions. In theory at least. Maybe they have some restrictions. If you could add an Electrum server, it would be even easier to broadcast cheap transactions.

I have just added the node which I manually selected on Electrum since weeks ago and it has been the node that I I have been using till now. I have imported it on Cake wallet but the less than 1 sat/vbyte is not there.

 

The node is ready but the wallet does not make it possible.

 
I took it from my phone Electrum wallet just like I said before:

[Pmalek]

I have just added the node which I manually selected on Electrum since weeks ago and it has been the node that I I have been using till now. I have imported it on Cake wallet but the less than 1 sat/vbyte is not there.

The node is ready but the wallet does not make it possible.

I see. Their developers need to update the fee customization option to allow users to enter fees below the 1 sat/vByte threshold. They have already taken one step in the right direction by allowing people to connect to other Electrum servers. I wanted to suggest that you can make a request to have that added on their GitHub page, but they don't seem to have one. I don't see a link to it on the official website. One of the other social media pages or support channels should work, though.

[coinlary]

~snip

I see. Their developers need to update the fee customization option to allow users to enter fees below the 1 sat/vByte threshold. They have already taken one step in the right direction by allowing people to connect to other Electrum servers. I wanted to suggest that you can make a request to have that added on their GitHub page, but they don't seem to have one. I don't see a link to it on the official website. One of the other social media pages or support channels should work, though.

They do have a Github  page as an open source wallet  https://github.com/cake-tech/cake_wallet. Tried checking If anyone already raised it as  an issue but so far none (I will leave it to OP choice ).
A link to their official website is also on their github page but it's cakewallet.com , all their social handles is present there aswell, you can also get the official site from their official X handle @cakewallet

[Pmalek]

They do have a Github  page as an open source wallet  https://github.com/cake-tech/cake_wallet. Tried checking If anyone already raised it as  an issue but so far none (I will leave it to OP choice ).
A link to their official website is also on their github page but it's cakewallet.com , all their social handles is present there aswell, you can also get the official site from their official X handle @cakewallet

It would be normal for them to have GitHub precisely because it's an open source wallet, but it's weird that there isn't a link to their official GitHub repository at the bottom of their website where the links to their other social media profiles are located. It's not a problem to google and find it, but they really should make that connection themselves and make it official.

[coinlary]

It would be normal for them to have GitHub precisely because it's an open source wallet, but it's weird that there isn't a link to their official GitHub repository at the bottom of their website where the links to their other social media profiles are located. It's not a problem to google and find it, but they really should make that connection themselves and make it official.

It's also present on the website landing page. I guess the reason why it wasn't added along with other social media handles was the short narration used as the heading "Follow Us". To see the GitHub button, scroll up slowly to "Your Privacy & Security Matters To Us".

It's not bad if it's there too anyway. Most sites will just put it at the bottom along with other handles because it makes it easier to find,probably it just skipped the devs minds .

[Forsyth Jones]

I reinstalled the Cake Wallet after a few weeks:

I made a connection with a Trezor model T hardware wallet.

Note that you need Trezor Suite installed, as Cake uses trezor_connect.



The App doesn't seem to be well optimized for tablets, I'm using samsung DEX, just look at the size of the icons and other elements occupying disproportionate space on the screen.





To sign transactions, you also require Trezor Suite, it's as if you were using Trezor Suite and monitoring the HW balance in the Cake Wallet. 

[Pmalek]

I reinstalled the Cake Wallet after a few weeks:

I made a connection with a Trezor model T hardware wallet.

Note that you need Trezor Suite installed, as Cake uses trezor_connect.

The App doesn't seem to be well optimized for tablets, I'm using samsung DEX, just look at the size of the icons and other elements occupying disproportionate space on the screen.

I agree. That simply looks bad. It's fine on a phone, though.

I think Trezor Suite is already a very good software. I can't think of a reason why I would use Cake Wallet as companion app with my Trezor device. Perhaps Cake supports additional coins & tokens. It's a known fact that not all Trezors work with the same digital assets. Trezor Suite has good coin control options, TOR, bitcoin-only or universal firmware with altcoins. Even swaps for those who want them.

Is there something special in Cake Wallet that makes you go for the option instead of Trezor Suite?

[Forsyth Jones]

I agree. That simply looks bad. It's fine on a phone, though.

I think Trezor Suite is already a very good software. I can't think of a reason why I would use Cake Wallet as companion app with my Trezor device. Perhaps Cake supports additional coins & tokens. It's a known fact that not all Trezors work with the same digital assets. Trezor Suite has good coin control options, TOR, bitcoin-only or universal firmware with altcoins. Even swaps for those who want them.

Is there something special in Cake Wallet that makes you go for the option instead of Trezor Suite?

For now, I've only tested the integration with my Model T. What makes Cake unique for me is the fact that it allows sending Silent Payments in addition to receiving them (SP doesn't have integration with connected HW?).

Yes, Trezor Suite is one of the best-optimized wallet software I know.

But on my tablet (samsung s10+), Trezor Suite isn't well optimized, at least if I'm in samsung DEX mode. If I leave the app window maximized or a little larger, it freezes, crashes and closes the app.

[Pmalek]

What makes Cake unique for me is the fact that it allows sending Silent Payments in addition to receiving them (SP doesn't have integration with connected HW?).

I have yet to test silent payments, so I have zero experience on that front. However, I came across a post from Trezor's forum where some users reported experiencing issues with Trezor and silent payments. It's difficult to say who the culprit here is. The person was trying to make a silent payment from Wasabi to Cake Wallet. Here is what they said:

Does Trezor support making silent payments with third party wallets? I tried to make a transfer through Wasabi to a silent payment address on Cake Wallet, but Cake is unable to find the transaction.

I don’t know if Trezor has the support for silent payments at the firmware level for it to work properly, so I think I may have lost some funds because Wasabi created a malformed transaction and Trezor allowed me to sign it.

Another reply below that says:

Same thing happened to me on my cake wallet.

Just be careful if you haven't made such payments before. It would be a shame to lose money just for the sake of playing around with a new feature.

Source: https://forum.trezor.io/t/silent-payments/25294

[Kruw]

I have yet to test silent payments, so I have zero experience on that front. However, I came across a post from Trezor's forum where some users reported experiencing issues with Trezor and silent payments. It's difficult to say who the culprit here is. The person was trying to make a silent payment from Wasabi to Cake Wallet. Here is what they said:

Wasabi only supports sending Silent Payments from hot wallets. Special features like RBF, Coinjoin, Payjoin, and Silent Payments are not implemented for hardware wallets.

[Forsyth Jones]

I have yet to test silent payments, so I have zero experience on that front. However, I came across a post from Trezor's forum where some users reported experiencing issues with Trezor and silent payments. It's difficult to say who the culprit here is. The person was trying to make a silent payment from Wasabi to Cake Wallet. Here is what they said:
--snip--

Hmm, if in these both cases the users received it directly from the SP with the Trezor Wallet integrated, and Trezor never admitted to such support, I think they should research this before sending it :^P

I've never tested it either, but if I do test it, it will be only via software wallet, like Cake, not through HW wallet.

Just be careful if you haven't made such payments before. It would be a shame to lose money just for the sake of playing around with a new feature.

Source: https://forum.trezor.io/t/silent-payments/25294

Thanks for the warning. I don't think I would do such a thing since it's an experimental feature.

Notice that no one from Trezor replied, could this Trezor forum be somewhat abandoned?

Wasabi only supports sending Silent Payments from hot wallets. Special features like RBF, Coinjoin, Payjoin, and Silent Payments are not implemented for hardware wallets.

thanks Kruw