Cake Wallet is one of the most prominent wallets currently in the crypto space. Owing to its really cool features, safe functionality and easy to use interface, it has penetrated well among the large user base of crypto currency.
Cake Wallet is the first open source non-custodial wallet which supports XMR, BTC, LTC and XHV. Owned and operated by Cake Labs LLC, it has over 250,000 users and does over $200 million in exchange volume every year.
Initially, it was just a Monero wallet on IOS but later on it expanded to other currencies and also platforms like Android.
Let’s have a look at some of the most interesting features of Cake Wallet.
1) Multicurrency Wallet: Monero, Bitcoin (Electrum), and Litecoin (Electrum)
2) Open source
3) Built-in exchange feature. You can easily exchange: XMR, BTC, ADA, BCH, BND, DAI, DASH, EOS, ETH, LTC, TRX, USDT, USDT ERC20, XLM, XRP
4) Now you can buy BTC directly in the app
5) Create multiple wallets and accounts
6) Back up your wallets locally or to the cloud
7) Connect to remote nodes of your choice, and even your own
8) Many languages available
9) Ability to view your XMR, BTC, and LTC value in the fiat of your choice
Thanks to its several amazing features, Cake Wallet is gaining popularity with each passing day. In fact, in two recent Reddit polls, Monero users preferred Cake Wallet 2-1 over its closest competitor.
Cake Wallet has grown from strength to strength in the past few years but it couldn’t have been possible without the team’s passion, dedication and self-belief. In 2017 it was close to impossible to find Monero specific blockchain engineers. This is when some of the most competent blockchain engineers were hired and were trained for Monero’s blockchain and also how to build an iOS app.
Talking about the goal of Cake Labs, it aims to bring crypto to the masses through a simple intuitive UI/UX for beginners yet robust features for more advanced users. It promises to add a lightning network for Bitcoin and MWEB for Litecoin in the future.