Cake Wallet vs MyEtherWallet

Cake Wallet4.3/5

VS

MyEtherWallet3.9/5

Feature	Cake WalletVisit	MyEtherWalletVisit
Ratings
Our score	4.3/5	3.9/5
User rating	No reviews yet	No reviews yet
Security	4.5	3.5
Ease of use	4.0	3.5
Chain support	4.0	4.0
Features	4.0	4.0
Privacy	5.0	4.5
Specs
KYC required	No	No
Wallet type	Mobile, Desktop	Web, Mobile
Custody	Self-custodial	Self-custodial
Chains	Bitcoin, Ethereum, Solana, Arbitrum, Base, Polygon, BNB Chain, Tron, Other	Ethereum, Bitcoin, Solana, BNB Chain, Arbitrum, Base, Optimism, Polygon, Other
Platforms	iOS, Android, macOS, Linux	iOS, Android, Chrome, Firefox, Brave, Edge, Safari
Open source	Yes	Yes
Hardware wallet support	Yes	Yes
In-app swaps	Yes	Yes
Staking	Not disclosed	Yes
NFT support	Not disclosed	Yes
Buy crypto in app	Yes	Not disclosed
WalletConnect	Not disclosed	Yes
Security features	PIN protection, Encrypted backups, Tor routing, Bitcoin Silent Payments, Coin control, Replace-by-Fee	Client-side key generation, Hardware wallet integration, Biometric authentication, Passcode protection
Recovery without a seed phrase	No	Not disclosed
Built-in dApp browser	No	Yes
Perpetuals trading	No	Not disclosed
Company
Founded	2018	2015
Headquarters	—	United States
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	Open-source, client-side architecture with continuous operation since 2015 No registration or identity verification required for core wallet features Supports Ethereum Layer 2s, Bitcoin, Solana, and Polkadot alongside EVM chains Free core wallet software with transparent third-party swap fee quotes
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	Lost 215 ETH in an April 2018 BGP DNS hijacking incident Self-custodial design leaves recovery entirely dependent on user seed-phrase safety Web interface users face domain-spoofing and phishing risks
Best for	Monero and privacy-focused asset holders, Users routing transactions through Tor, Mobile users pairing hardware wallets	Ethereum and EVM users wanting self-custody, Traders managing assets across Bitcoin, Solana, and Ethereum, Users avoiding mandatory account registration

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