Blockstream Green vs Cake Wallet

Comparing: two wallets
Decided by: Editorial rating
Last reviewed: 2026-08-25

Blockstream's own Bitcoin and Liquid wallet, whose 2FA cosigning multisig is its reason to exist and has been closed to new accounts since May 2025.

Cake Wallet3.3

Open source Monero-first wallet with real bitcoin privacy tools, carrying a 2021 key generation bug that is still costing people coins.

Verdict: Blockstream Green

Blockstream Green rates higher on our rubric: 3.7 against 3.3 for Cake Wallet.

Criterion: Editorial rating
Blockstream Green: 3.7
Cake Wallet: 3.3

Blockstream Green and Cake Wallet, fact by fact

Every row is from the two reviews as of their review dates, with sources on each. A check marks the side a decidable criterion favours; rows without one are information, not a score.

Blockstream Green and Cake Wallet compared fact by fact from their reviews; a check marks the side a decidable criterion favours.
Fact	Blockstream Green	Cake Wallet
Editorial rating	3.7 (favoured on this row)	3.3
Status	Available	Available
Made by	Blockstream	Cake Labs
Price	Free download	Free download
Who holds the keys	self-custodial, either single signature on your device or a 2-of-2 where Blockstream cosigns after your two-factor check	self-custodial, seed and keys generated and stored on your own device, with no account and no telemetry
Bitcoin-only	No	No
Runs on	iOS, Android, Windows, macOS, Linux	iOS, Android, Windows, macOS, Linux
Screen	Not stated	Not stated
Connectivity	Connects to your own node and routes over Tor with one tap, and pairs with the Blockstream Jade hardware wallet	Tor for all traffic, connection to your own node, Ledger hardware signing, and silent payments plus PayJoin on the bitcoin side
Released	2014 as GreenAddress, renamed after Blockstream acquired it in 2016	2018, launched as the first open-source Monero wallet on iOS
Countries on the maker's list	No published list	No published list
Last reviewed	2026-08-25	2026-08-25

Pros and cons, side by side

Blockstream Green

What works

A cosigning key behind two-factor authentication, so a thief with your unlocked phone still cannot spend
The cosigner cannot trap your coins: a CheckSequenceVerify timelock hands each deposit back to your key alone after about 360 days
An open source recovery tool exists for the case where the 2FA service is permanently switched off
Runs on iOS, Android (Google Play and F-Droid), Windows, macOS and Linux
Pairs natively with Blockstream Jade, so the keys can live on a device instead of the phone
Open source, no documents required, and it can connect to your own node over Tor

What to watch

New 2FA Protected accounts have not been available since May 2025, which is the feature most people came for
Keeping 2FA protection on older coins means redepositing them before each timelock expires
Not bitcoin only, and Liquid balances depend on the Liquid federation rather than on bitcoin's mining
The cosigning server sees a 2FA wallet's transactions, a privacy cost single signature does not have
Three names in circulation (Blockstream Green, the Blockstream app, Multisig Shield) make guides and support articles hard to line up

Cake Wallet

What works

Open source under an MIT license, with a public repository that is actively developed
Self-custodial with no account and no KYC, and, in Cake's words, zero data collection or telemetry
Genuine bitcoin privacy tooling: silent payments and PayJoin, plus Tor for all traffic and your own node
Handles Monero properly, which almost no other multi-asset wallet does
Ledger hardware wallet support, plus Cake's own two-factor option and biometric unlock
Reachable outside the app stores: direct APK, Accrescent, and Windows and Linux builds

What to watch

Bitcoin wallets created before v4.1.7 are permanently unsafe and have to be replaced, not just updated
The Milk Sad researchers traced sweeps of those weak wallets continuing into 2024, three years after the warning
The flaw was in Cake's own key generation code rather than a third-party library, and it ran through 2020 and 2021
Multi-asset by design, so it carries far more chains and far more code than a bitcoin-only wallet
Monero's privacy guarantees and much more transparent chains share one app, which takes care to use well

Frequently asked questions

Is Blockstream Green or Cake Wallet better?

Blockstream Green rates higher on our rubric: 3.7 against 3.3 for Cake Wallet. The rating follows the product rubric published on our about page; the rows above set custody, price and platforms side by side so you can check it.

Are Blockstream Green and Cake Wallet free?

Yes, both are free to download. What differs is who holds the keys: Blockstream Green is self-custodial, either single signature on your device or a 2-of-2 where Blockstream cosigns after your two-factor check; Cake Wallet is self-custodial, seed and keys generated and stored on your own device, with no account and no telemetry.

Is Blockstream Green or Cake Wallet bitcoin-only?

Neither: both support assets beyond bitcoin. Blockstream Green: Bitcoin on chain, Lightning, and Liquid assets including Liquid bitcoin and Tether USDt. Cake Wallet: Multi-asset: Monero, bitcoin, Lightning, Litecoin, Ethereum, Solana, Zcash, Bitcoin Cash and more.

The full reviews: Blockstream Green and Cake Wallet, each with its sources, and every wallet we review.

More comparisons

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