Cake Wallet VS Coinbase

Compare Cake Wallet VS Coinbase and see what are their differences

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Cake Wallet

Cake Wallet For Monero, Bitcoin, And Litecoin

Coinbase

Bitcoin, safe and easy.

Landing page //
2023-04-16

Landing page //
2018-09-30

Cake Wallet

Website: cakewallet.com
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Coinbase

Website: coinbase.com
$ Details: -

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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.

Coinbase features and specs

User-Friendly Interface
Coinbase offers an intuitive and easy-to-use interface that is ideal for beginners in the cryptocurrency space.
High Liquidity
Coinbase has high liquidity, allowing users to buy and sell cryptocurrencies quickly without significant price slippage.
Security Features
Coinbase employs robust security measures, including two-factor authentication (2FA), insurance against breaches, and cold storage for the majority of users' funds.
Wide Range of Cryptocurrencies
The platform supports a broad selection of cryptocurrencies, making it easier for users to diversify their portfolios.
Educational Resources
Coinbase provides educational content to help users understand cryptocurrency and blockchain technology better.
Regulatory Compliance
Coinbase adheres to stringent regulatory standards, providing a sense of legitimacy and trust for users.
Mobile App
Coinbase offers a mobile app with full functionality, allowing users to manage their portfolio on the go.

Possible disadvantages of Coinbase

High Fees
Coinbase charges relatively high transaction fees compared to other exchange platforms, which can eat into users' profits.
Limited Advanced Trading Features
While it offers a user-friendly experience, Coinbase lacks some of the advanced trading tools and features available on other platforms.
Customer Support
Some users have reported delays and difficulties when trying to reach Coinbase's customer support.
Account Freezes
There have been instances where users have experienced sudden account freezes, which can be problematic when trying to access funds.
Know Your Customer (KYC) Requirements
Coinbase requires extensive personal identification information, which can be off-putting for users who prioritize privacy.
Geographic Restrictions
Certain features and services on Coinbase are limited or unavailable in specific geographic regions.

Analysis of Coinbase

Overall verdict

Overall, Coinbase is considered good for those looking to buy, sell, or hold cryptocurrencies. However, it is important to note that its fees can be higher compared to some other platforms, particularly for its simpler buying options.

Why this product is good

Coinbase is one of the largest and most popular cryptocurrency exchanges globally, known for its user-friendly interface, robust security measures, and a wide variety of supported cryptocurrencies. It is a good choice for both beginners and experienced traders due to its intuitive platform and comprehensive educational resources. The exchange is regulated in various jurisdictions, offering a level of credibility and trustworthiness.

Recommended for

Beginner cryptocurrency investors who need an easy-to-use platform.
Users seeking a regulated and secure environment for trading.
Investors interested in a wide variety of supported cryptocurrencies.
Individuals looking for educational resources on cryptocurrency trading.

Cake Wallet videos

+ Add

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

Coinbase videos

+ Add

Is Coinbase Safe | My Coinbase Review (3 Things YOU NEED To Look For)

Category Popularity

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

Coinbase

Cryptocurrencies

4 4%

Cryptocurrencies

96% 96

Cryptocurrency Wallets

9 9%

Cryptocurrency Wallets

91% 91

Crypto

2 2%

Crypto

98% 98

Cryptocurrency Exchange

7 7%

Cryptocurrency Exchange

93% 93

User comments

Share your experience with using Cake Wallet and Coinbase. For example, how are they different and which one is better?

Reviews

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

Cake Wallet Reviews

We have no reviews of Cake Wallet yet.
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Coinbase Reviews

shah7

· Admin at Coin Master · almost 3 years ago

Coinbase is Love

One of the main benefits of Coinbase is its extensive security measures, which include offline storage for a majority of the company's cryptocurrency holdings and advanced security measures for online storage. Additionally, Coinbase is licensed and regulated by several financial authorities, which helps to provide users with a certain level of confidence in the security of their funds.

Best Crypto Payment Gateways 2024

– Real-time Conversion: Coinbase Commerce offers real-time conversion of cryptocurrencies into fiat currency, mitigating price volatility concerns for merchants. This feature enables seamless transactions without the need for manual conversions or additional steps.

Source: bitcoinist.com

9 Best Cryptocurrency Payment Gateways Reviewed [January 2023]

Coinbase Commerce allows small and medium scale businesses to accept crypto payments from customers. Being one of the best crypto exchange platforms, Coinbase supports a wide range of cryptocurrencies. Its Coinbase Pro platform has advanced features to serve professional traders. Businesses can create invoices, simple hosted checkouts, and Coinbase payment buttons using this...

Source: coingape.com

Top Crypto and Bitcoin Payment Processors - Accept Digital Currencies

Moreover, Coinbase Commerce charges only a 1% transaction fee, which is insignificant compared to the benefits it provides. It’s important to mention here that Coinbase Commerce offers the first US$1 million worth of transactions for free, making it one of the cheapest payment processors available today. All in all, if you’re seeking a professional and reliable payment...

Source: originstamp.com

6 Best Coinbase Alternatives for 2022

Coinbase opens the door to the world of cryptocurrencies for many investors. It focuses on simplicity, providing easy access to over 100 cryptocurrencies through a well-designed app, where users buy, sell, and exchange crypto with ease.

Source: investingintheweb.com

Best Crypto Exchanges in Europe in 2022 (Ranked and Reviewed)

While Coinbase is known for its simplicity, the platform has higher transaction fees than its competitors. Users also tend to complain about its customer service, saying that it is hard to contact other humans, with the service being primarily automated. Finally, Coinbase Europe is not a regulated financial service provider for digital currency services.

Source: investingintheweb.com

Social recommendations and mentions

Based on our record, Coinbase seems to be a lot more popular than Cake Wallet. While we know about 454 links to Coinbase, we've tracked only 33 mentions of Cake Wallet. 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

Coinbase mentions (454)

Ask HN: Who is hiring? (June 2024)
- We move at the pace of a startup, with value to full stack skillset, shipping fast, total ownership - Senior Product Manager, ideally ex-engineer, who has built API products before and written documentation - Engineering Manager for our Commerce team ( https://commerce.coinbase.com/ ) Send your github or resume to nemil.dalal+hn /at Coinbase's domain name. - Source: Hacker News / over 1 year ago
reset password email never shows
I have been trying to regain access to my account FOR OVER TWO FUCKING YEARS... The website only leads me in circles with no resolution, the reset password email NEVER shows up.. Yes I have checked my spam folder, yes I have searched for @coinbase.com in my emails search bar, yes I have contacted my email service provider whom states they cant even locate the emails being sent... I just need to reset my password... Source: almost 2 years ago
Over $50k was stolen from my account!!!
Late (2am) on the 26th, I received 3 text messages indicating the BTC (and ETH) being sent from my account are being delayed for security reasons. The text had a link (to a coinbase.com domain) to disable my account by clicking on the link. I did so for all 3 transactions (no login was required as it was a token based string) at around 6am when I saw the texts. Source: about 2 years ago
Accept Term problem
I got an e-mail that my account will be discontinued on Sept 25, and I should withdraw my funds. But after log in, I'm stuck on accept term, using app mobile, coinbase.com (firefox, google chrome , and safari) I tried also to connect to VPN but nothing happens. Source: about 2 years ago
Withdrawing money from Binance in the UK - how?
I do have an existing Coinbase.com account if that makes any difference? Source: about 2 years ago