Cake Wallet vs Electrum

Cake Wallet4.3/5

VS

Electrum3.5/5

Feature	Cake WalletVisit	ElectrumVisit
Ratings
Our score	4.3/5	3.5/5
User rating	No reviews yet	No reviews yet
Security	4.5	4.5
Ease of use	4.0	3.5
Chain support	4.0	1.5
Features	4.0	3.5
Privacy	5.0	4.0
Specs
KYC required	No	No
Wallet type	Mobile, Desktop	Desktop, Mobile
Custody	Self-custodial	Self-custodial
Chains	Bitcoin, Ethereum, Solana, Arbitrum, Base, Polygon, BNB Chain, Tron, Other	Bitcoin
Platforms	iOS, Android, macOS, Linux	Windows, macOS, Linux, Android
Open source	Yes	Yes
Hardware wallet support	Yes	Yes
In-app swaps	Yes	Not disclosed
Staking	Not disclosed	No
NFT support	Not disclosed	No
Buy crypto in app	Yes	No
Security features	PIN protection, Encrypted backups, Tor routing, Bitcoin Silent Payments, Coin control, Replace-by-Fee	SPV transaction verification, Multisignature wallets, Two-factor authentication, Watch-only wallets, Cold storage, Offline signing, Reproducible builds, GPG-signed releases
Recovery without a seed phrase	No	No
Passkey login	Not disclosed	No
Multisig	Not disclosed	Yes
Built-in dApp browser	No	No
Perpetuals trading	No	No
Company
Founded	2018	2011
Headquarters	—	Germany
Investors	Not disclosed	Not disclosed
Strengths and weaknesses
Pros	Fully open source under the MIT license Self-custodial design requires no user account creation or identity verification Built-in Tor routing conceals IP addresses when broadcasting transactions Integrates hardware signing devices alongside an air-gapped phone signing option	Self-custodial Bitcoin wallet with encrypted keys Open-source MIT-licensed software Supports hardware wallets and multisig Available on Windows, macOS, Linux and Android
Cons	Native in-app bridging is restricted to USDT across Ethereum, Polygon, and Arbitrum In-app exchange rates and fiat purchases carry external third-party provider fees Fee customization and bumping tools are unavailable on Solana, Tron, and Arbitrum Requires users to manage seed phrase backups without automated social recovery	Supports Bitcoin only, not Ethereum or tokens No official iOS version is listed Seed-phrase loss can permanently remove access Phishing and malicious downloads can expose funds
Best for	Monero and privacy-focused asset holders, Users routing transactions through Tor, Mobile users pairing hardware wallets	Bitcoin self-custody, Hardware-wallet users, Multisig Bitcoin setups

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