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Cake Wallet VS Blockchain Wallet

Compare Cake Wallet VS Blockchain Wallet and see what are their differences

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Cake Wallet logo Cake Wallet

Cake Wallet For Monero, Bitcoin, And Litecoin

Blockchain Wallet logo Blockchain Wallet

Popular cryptocurrency wallet for those looking to transform the financial system right from their...
  • Cake Wallet Landing page
    Landing page //
    2023-04-16
  • Blockchain Wallet Landing page
    Landing page //
    2023-06-16

Cake Wallet features and specs

  • Privacy Features
    Cake Wallet is known for supporting privacy-focused cryptocurrencies like Monero (XMR), which offers enhanced anonymity and privacy for users.
  • User-Friendly Interface
    The wallet features a straightforward and intuitive interface, making it accessible for both beginners and experienced users.
  • Multicurrency Support
    In addition to Monero, Cake Wallet supports other popular cryptocurrencies, allowing users to manage multiple assets within the same app.
  • Non-Custodial
    As a non-custodial wallet, users retain full control over their private keys, enhancing the security of their assets.
  • Open Source Software
    The wallet's open-source nature allows the community to audit its code for security and improvements, which can contribute to trust among users.

Possible disadvantages of Cake Wallet

  • Limited Customer Support
    Some users may find the level of customer support provided by Cake Wallet to be limited compared to other services.
  • Mobile Only
    Cake Wallet is primarily designed for mobile devices, which could be a limitation for users who prefer or require a desktop option.
  • Learning Curve for Privacy Coins
    Users new to privacy-focused coins like Monero may need to invest time in understanding how these technologies differ from traditional cryptocurrencies.
  • Transaction Delays
    While not unique to Cake Wallet, users may occasionally experience transaction delays due to network congestion, especially on privacy blockchains.

Blockchain Wallet features and specs

  • User-Friendly Interface
    Blockchain Wallet provides an intuitive and easy-to-navigate interface, making it accessible for users with varying levels of technical expertise.
  • Multi-Currency Support
    Supports multiple cryptocurrencies including Bitcoin, Ethereum, and others, allowing users to manage different assets within the same wallet.
  • Security Features
    Offers robust security features such as two-factor authentication (2FA), advanced encryption, and hierarchical deterministic (HD) settings to safekeep users' assets.
  • Built-In Exchange
    Includes a built-in exchange feature, enabling users to buy, sell, and trade cryptocurrency directly within the wallet.
  • Backup and Recovery Options
    Provides reliable backup and recovery mechanisms, ensuring users can restore access to their funds even if they lose their device.

Possible disadvantages of Blockchain Wallet

  • Centralized Control
    Despite its decentralized nature, the wallet itself is managed by Blockchain.com, leading to some degree of centralization which could be a concern for purists.
  • Transaction Fees
    Blockchain Wallet charges transaction fees which can be higher compared to some other wallets, especially during periods of network congestion.
  • Limited Altcoin Support
    While it supports major currencies, the variety of supported altcoins is limited compared to other wallets, which might be a limitation for altcoin enthusiasts.
  • Not Fully Open Source
    Unlike some other wallets, Blockchain Wallet is not fully open source, raising transparency and trust issues for some users.
  • KYC Requirements
    Certain features such as the exchange and buying/selling functionalities require users to undergo Know Your Customer (KYC) verification, which might be a privacy concern.

Analysis of Blockchain Wallet

Overall verdict

  • Blockchain Wallet is generally considered a reliable and straightforward option for managing cryptocurrencies, particularly for users who value ease of use and mainstream features. While it offers a robust set of features for security and usability, it's important to exercise general caution with online wallets and consider additional safety measures, such as hardware wallets, for storing substantial amounts of cryptocurrency.

Why this product is good

  • Blockchain Wallet by Blockchain.com is well-regarded for several reasons. It offers a user-friendly interface, making it accessible for both beginners and experienced users in the cryptocurrency space. The wallet supports multiple cryptocurrencies, providing flexibility for users with diverse portfolios. Additionally, it incorporates essential security features such as two-factor authentication, hierarchical deterministic settings (HD), and backup options to safeguard users' digital assets. Its integration with the Blockchain.com exchange also allows for easier trading and conversion of cryptocurrencies.

Recommended for

    The Blockchain Wallet is recommended for cryptocurrency users who are looking for a balance between ease of use and functional diversity. It is particularly beneficial for newcomers to the cryptocurrency space who require a straightforward platform, as well as for active traders leveraging the safe and easy integration with Blockchain.com's own exchange. However, users needing advanced security measures or seeking to store large amounts of cryptocurrency might prefer more secure, offline storage solutions like hardware wallets.

Cake Wallet videos

+ Add

MONERO CAKE Wallet Tutorial - Use Unstoppable Domains to Send XMR Monero To ANYONE

Blockchain Wallet videos

+ Add

Blockchain Wallet | Latest Review With Ratings | 2019 | in 8 minutes

Category Popularity

0-100% (relative to Cake Wallet and Blockchain Wallet)

Cake Wallet

Blockchain Wallet

Cryptocurrencies
29 29%
Cryptocurrencies
71% 71
Cryptocurrency Wallets
37 37%
Cryptocurrency Wallets
63% 63
Cryptocurrency Exchange
38 38%
Cryptocurrency Exchange
62% 62
Crypto
29 29%
Crypto
71% 71

User comments

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Reviews

These are some of the external sources and on-site user reviews we've used to compare Cake Wallet and Blockchain Wallet

Cake Wallet Reviews

We have no reviews of Cake Wallet yet.
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Blockchain Wallet Reviews

20 BEST Bitcoin Wallets | Top Crypto Wallets in 2021
Mycelium is easy to use open-source and mobile-only blockchain wallet. It allows you to set custom transaction fees. This tool will enable you to choose how long you are willing to wait for a transaction to be completed.
Source: www.guru99.com

Social recommendations and mentions

Based on our record, Cake Wallet seems to be more popular. It has been mentiond 33 times since March 2021. We are tracking product recommendations and mentions on various public social media platforms and blogs. They can help you identify which product is more popular and what people think of it.

Cake Wallet mentions (33)

  • Comprehensive Analysis of De-Anonymization Attacks Against the Privacy Coin XMR
    Check out feather wallet (https://featherwallet.org/) on desktop or cake wallet (https://cakewallet.com/) on mobile. Once you create a wallet and write down the seed phrase, generate a "view key". - Source: Hacker News / 4 months ago
  • [UPDATES] Now store Ethereum in Cake Wallet beta
    We are excited that Cake Wallet beta users can now store Ethereum and ERC-20 tokens, such as the USDT, USDC, and DAI stablecoins, directly in their wallet. Source: about 2 years ago
  • MoneroKon 2023 is next week! AMA Session with the MoneroKon Orga Team
    No one knows; that is the beauty of Monero. There is the official Monero wallet (https://www.getmonero.org/downloads) and other 3rd-party wallets like Cake Wallet (https://cakewallet.com), Rino (https://rino.io), Feather (https://featherwallet.org) and Monerujo (https://monerujo.io). Source: over 2 years ago
  • Event Poll - Monerokon
    "Monero Konferenco isn't just an academic conference. It's a gathering of the smartest minds that are involved with private digital payments." - Vik Sharma, CEO of Cake Wallet, an open-source cryptocurrency mobile wallet that supports the exchange of Monero, Bitcoin, and Litecoin, one of the sponsors of Monero Konferenco 2022. https://cakewallet.com. Source: over 2 years ago
  • More Gift Cards Added to Cake Pay Mobile (USA) to Live Off Your Crypto
    Hey reddit, we have some exciting news for you as we take steps to make it just that much easier to LIVE ON CRYPTO! We just released a new update for Monero.com & Cake Wallet apps, specifically CakePay Mobile in USA, that adds more gift card options for you to spend your XMR/BTC/LTC on. With just an email you can access these gift card discounts and more:. Source: over 2 years ago
View more

Blockchain Wallet mentions (0)

We have not tracked any mentions of Blockchain Wallet yet. Tracking of Blockchain Wallet recommendations started around Mar 2021.

What are some alternatives?

When comparing Cake Wallet and Blockchain Wallet, you can also consider the following products

Electrum - Electrum is an easy to use Bitcoin client.

Exodus.io - All-in-one app to secure, manage and exchange blockchain assets.

Jaxx - Jaxx.io is a blockchain wallet available as desktop software, a mobile app, or as a Chrome extension

Stack Wallet - Stack Wallet, a multicoin, cryptocurrency wallet

Toshi - A browser for the Ethereum network

Feather Wallet - Feather is a free, open-source Monero wallet for Linux, Tails, Windows and macOS.

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