Cake Wallet review
Cake Wallet is a self-custody wallet designed for Bitcoin, Monero, Ethereum, and stablecoins. Developed by Cake Labs LLC, a company established under Nevis law, this wallet eliminates the need for accounts or sign-ups, and it does not require KYC. Within the app, swaps run through third-party providers including ChangeNOW, Exolix, Trocador, and Chainflip. Any necessary ID checks are conducted by these providers, not Cake Wallet. Cake Wallet never holds swap funds and cannot reverse a swap. The wallet also offers support for shielded Zcash. In our view, Cake Wallet suits Monero users who choose their swap provider with care.
No ID, by design
Cake Wallet never asks for ID by design, per its own pages.
Latest release: V6.5.0 (2026-10-12)
Choose Cake Wallet if
Who Cake Wallet suits, from the values on this page.
Cake Wallet suits you if
- You want to trade with no account and no ID: Cake Wallet never asks for ID, by design.
- You want Monero: Cake Wallet lists it.
- You want to pay or get paid over Lightning.
- You want open-source software that trades over Tor.
Cake Wallet might not be the right fit if
- You want a service with no incident on record: Cake Wallet had one in 2021.
Best for
Monero for bitcoin
Inside Cake Wallet
Screenshots taken November 3, 2026
What you get with Cake Wallet
Yes, no or partly, from our dataPrivacy 3 of 6, 1 partly
- No IDYesBy design
- No accountYes
- Tor built inYes
- Onion addressPartlyTor built into the app
- I2P addressNoNone published
- Works without JavaScriptNot statedNot statedCake Wallet's own pages we checked do not say. This is not the same as no.
Coins 4 of 4
- BitcoinYes
- MoneroYes
- LightningYes
- ZcashYes
Custody and code 1 of 3
- You hold the keysNo
- Open sourceYes
- Address screeningNot statedNot statedCake Wallet's own pages we checked do not say. This is not the same as no.
When can Cake Wallet ask for your ID?
Never, by design, per Cake Wallet's own pages. Labels come from each provider's terms, never from our guess.
- 1Never, by designCake Wallet is on this stepNo company holds your order, so nobody can ask
- 2Only if you chooseID only for extras you opt into
- 3If a payment is flaggedNo ID by default; checks when a risk system flags you
- 4Above a limitID once you pass a stated amount
- 5AlwaysID before you trade, deposit or withdraw
If a check comes and you do not pass it
Not statedCake Wallet's own pages we checked do not say, checked Oct 14, 2026. This is not the same as no.
What triggers a check: Third-party fiat buy/sell providers: depending on provider, amount, payment method and region, an email, phone number, ID document or more; third-party swap providers: their own policies (not described by Cake)
Not stated on Cake Wallet's pages: fee on refusal, refund policyCake Wallet's own pages we checked do not say. This is not the same as no.
Checked October 22, 2026
What Cake Wallet costs
| What | Cake Wallet |
|---|---|
| Trade fee | Wallet free; swap rate and provider fees set by the third-party provider and settled at execution (floating or fixed rate, fixed slightly worse); network fees apply |
| No-ID limit | Not statedCake Wallet's own pages we checked do not say, checked Oct 14, 2026. This is not the same as no. |
What Cake Wallet knows about you
Who sees what during a trade, and who runs it.
During a trade
No ID check does not make a bank payment private.
Network and who runs it
- Requests from authorities
- Personal information may be disclosed to comply with a court order, law or legal process, including government or regulatory requests
- Warrant canary
- Not published
Checked October 23, 2026
Track record and code
No hack of Cake infrastructure, seizure or closure found.
Incidents
- 2021May 11, 2021: Security vulnerability, not a breach of Cake: Cake Wallet versions released in 2020-2021 generated Bitcoin wallets with weak randomness (Electrum-format Segwit seeds); the vendor published an advisory on 2021-05-11; Milk Sad researchers warned again on 2024-02-13 that affected wallets are at risk of complete loss; Cake warns about known weak seeds since v4.12.0.
- License
- MIT
- Support
- In-app chat (Support); e-mail [email protected]; Telegram
Checked October 23, 2026
Community
Discussions about Cake Wallet on Reddit (opens in a new tab) (r/cakewallet)
More facts we checked on Cake Wallet
- I2P address
- Not published
Cake Wallet in the US and elsewhere
In the US
US availability: Available
If you are a US person, US sanctions rules apply to you whether or not a service asks for ID.
Outside the US
Excluded countries: No list; users are responsible for compliance with local laws
Regional rule: Not statedCake Wallet's own pages we checked do not say. This is not the same as no.
- Site blocks by region
- No list; users are responsible for compliance with local laws
Where you live and the provider's terms
Many services on this page do not serve every country. Some exclude people because of where they live or their citizenship, not only where they connect from. Read the provider's terms before you send funds. If the terms exclude you, do not use the service, and do not try to get around the restriction, for example with a VPN.
Taxes
A service that does not ask for ID does not change your taxes. In the US, the federal income tax return asks a yes-or-no question about digital assets, and you must report digital asset transactions whether or not they result in a gain or loss. In the UK, you may owe Capital Gains Tax when you sell, swap or spend crypto, and you must keep your own records. Rules in other countries differ.
No KYC is not anonymity
"No KYC" here means the provider says it does not ask for ID in the cases its terms describe. It does not make you anonymous. Cake Wallet's terms say it can ask for ID in these cases: Third-party fiat buy/sell providers: depending on provider, amount, payment method and region, an email, phone number, ID document or more; third-party swap providers: their own policies (not described by Cake). Regulated exchanges you send funds from or to may have to collect information about who sends and who receives a crypto transfer. Your tax duties stay the same.
Funds can be held
If a provider asks for more information during a swap or a withdrawal, it may hold your funds until it gets it. Its terms decide what happens next. In the UK, a crypto business that asks for information on a transfer to or from a self-custody wallet, and does not receive it, must not pass the funds on. Read what the provider's terms say before you send.
Checked October 22, 2026
Wallets to compare with Cake Wallet
Other active services in this category from our list. The shield shows each one's ID rule from its own terms.
Cake Wallet side by side
From our privacy data, the same fields for every service| What | Cake Wallet |
|---|---|
| ID rule | No ID, by design |
| Account | None |
| You hold the keys | No |
| Monero | Yes |
| Lightning | Yes |
| Open source | Yes |
Checked October 22, 2026
Short answers about Cake Wallet
From the data on this page.
Does Cake Wallet ask for ID?
Cake Wallet never asks for ID by design, per its own pages. There is no account.
Who holds your coins during a Cake Wallet trade?
Held during the swap. Self-custody wallet; swaps executed by third-party providers: centralized providers receive the deposit and send the swapped asset (transit), decentralized protocols settle on-chain.
Can you buy Monero on Cake Wallet?
Yes. Cake Wallet lists Monero.
What does Cake Wallet cost?
Trade fee: Wallet free; swap rate and provider fees set by the third-party provider and settled at execution (floating or fixed rate, fixed slightly worse); network fees apply.
Who checked this page
Sources, how we read the terms and our process
Sources
- api.github.com/repos/cake-tech/cake_wallet, for license, checked October 22, 2026
- api.github.com/repos/cake-tech/cake_wallet/releases/latest, for latest release, checked October 22, 2026
- cakewallet.com, for Monero and bitcoin, checked October 22, 2026
- cakewallet.com/privacy, for data collected and requests from authorities, checked October 22, 2026
- cakewallet.com/terms, for operator, excluded countries, warrant canary and site blocks by region, checked October 22, 2026
- docs.cakewallet.com/cryptos/zcash, for Zcash and Zcash address type, checked October 22, 2026
- docs.cakewallet.com/faq/buy-and-sell, for what triggers a check, checked October 22, 2026
- docs.cakewallet.com/faq/common-questions, for ID rule, checked October 22, 2026
- docs.cakewallet.com/faq/swaps-and-exchanges, for account, checked October 22, 2026
- docs.cakewallet.com/features/basic/bitcoin-lightning, for Lightning, checked October 22, 2026
- docs.cakewallet.com/features/basic/swap, for fees, checked October 22, 2026
- docs.cakewallet.com/features/managing-your-wallet/manage-nodes, for onion address and Tor in the app, checked October 23, 2026
- docs.cakewallet.com/llms-full.txt, for I2P address, checked October 22, 2026
- docs.cakewallet.com/support/swap, for custody, custody in detail and support, checked October 22, 2026
- github.com/cake-tech/cake_wallet, for open source, checked October 23, 2026
- itunes.apple.com/lookup, for status and US availability, checked October 22, 2026
- milksad.info/posts/research-update-6, for incidents, checked October 14, 2026
How we read the terms
We do not give privacy services a score. We record what each provider's own pages say: when it asks for ID, the limits, who holds your coins and what it costs. Labels come from each provider's terms, never from our guess. How we read the terms
Our process
We take fees, availability, licenses and coin counts from primary sources: Cake Wallet's own fee schedules, terms and help pages, and the public registers kept by regulators. Every value carries the date we last checked it. The values on this page were checked between October 14, 2026 and October 23, 2026.
Not legal or tax advice. This page explains how these services work and what their own terms say. It is general information, not legal, tax or financial advice. Rules differ by country and change often. Check the rules where you live, or ask a qualified professional, before you use any service listed here.