Cake Wallet vs Kraken Wallet

Cake Wallet4.3/5

VS

Kraken Wallet4.1/5

Feature	Cake WalletVisit	Kraken WalletVisit
Ratings
Our score	4.3/5	4.1/5
User rating	No reviews yet	No reviews yet
Security	4.5	4.5
Ease of use	4.0	4.5
Chain support	4.0	4.0
Features	4.0	3.5
Privacy	5.0	4.0
Specs
KYC required	No	No
Wallet type	Mobile, Desktop	Mobile, Web
Custody	Self-custodial	Self-custodial
Chains	Bitcoin, Ethereum, Solana, Arbitrum, Base, Polygon, BNB Chain, Tron, Other	Bitcoin, Ethereum, Solana, BNB Chain, Polygon, Base, Arbitrum, Optimism, Other
Platforms	iOS, Android, macOS, Linux	iOS, Android
Open source	Yes	Yes
Hardware wallet support	Yes	Not disclosed
In-app swaps	Yes	Yes
NFT support	Not disclosed	Yes
Buy crypto in app	Yes	Yes
Security features	PIN protection, Encrypted backups, Tor routing, Bitcoin Silent Payments, Coin control, Replace-by-Fee	Passkey support, Seed phrase backup, Watch-only wallets, Address book
Recovery without a seed phrase	No	Yes
Passkey login	Not disclosed	Yes
Built-in dApp browser	No	Not disclosed
Swap fee	Not disclosed	0%
Perpetuals trading	No	No
Company
Founded	2018	2024
Headquarters	—	United States
Investors	Not disclosed	SBI Group, Bitcoin Opportunity Fund, Hummingbird Ventures
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	No platform surcharge added to in-app token swaps Supports Bitcoin, Solana, and major EVM Layer 2 chains Passkey onboarding allows wallet setup without a seed phrase Gas fees are sponsored on selected embedded EVM transactions
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	Gas fee sponsorship is not guaranteed across all transactions Users face smart contract risks when interacting with third-party DEX routers
Best for	Monero and privacy-focused asset holders, Users routing transactions through Tor, Mobile users pairing hardware wallets	Kraken exchange users moving to self-custody, Mobile multichain DeFi participants, Traders seeking markup-free token swaps

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