Cake Wallet vs Edge

Comparing: two wallets
Decided by: Editorial rating
Last reviewed: 2026-08-26

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

Edge3.2

Open source mobile wallet that trades the seed phrase for a username and password, and published every detail of the one time it failed.

Verdict: Cake Wallet

Cake Wallet rates higher on our rubric: 3.3 against 3.2 for Edge.

Criterion: Editorial rating
Cake Wallet: 3.3
Edge: 3.2

Cake Wallet and Edge, 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.

Cake Wallet and Edge compared fact by fact from their reviews; a check marks the side a decidable criterion favours.
Fact	Cake Wallet	Edge
Editorial rating	3.3 (favoured on this row)	3.2
Status	Available	Available
Made by	Cake Labs	Edge
Price	Free download	Free download
Who holds the keys	self-custodial, seed and keys generated and stored on your own device, with no account and no telemetry	self-custodial, keys encrypted on your device under your password before any backup leaves it
Bitcoin-only	No	No
Runs on	iOS, Android, Windows, macOS, Linux	iOS, Android
Screen	Not stated	Not stated
Connectivity	Tor for all traffic, connection to your own node, Ledger hardware signing, and silent payments plus PayJoin on the bitcoin side	Not stated
Released	2018, launched as the first open-source Monero wallet on iOS	2014 as Airbitz, relaunched as Edge
Countries on the maker's list	No published list	No published list
Last reviewed	2026-08-25	2026-08-26

Pros and cons, side by side

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

Edge

What works

The source is public at github.com/EdgeApp, and the same key management is sold to other developers as an SDK
Username and password login, so a beginner is never handed a seed phrase to lose on day one
Backups are encrypted on your device, so Edge holds a blob it cannot read rather than your keys
A signed APK is offered for Android, so you are not dependent on Google Play
Buying, selling, swapping, gift cards and mobile top-ups are all built in through named partners

What to watch

Your password is the single thing protecting the wallet, and passwords are the secret people reuse
The logging routine that leaked keys was committed in 2019 and went unnoticed until a user lost money in 2023
The 2023 logging bug wrote unencrypted private keys into logs uploaded to Edge's servers, which cost some users real money
Encrypted key blobs pass through Edge's infrastructure, unlike wallets that keep everything local
Mobile only, hot wallet, no hardware signing and no secure element

Frequently asked questions

Is Cake Wallet or Edge better?

Cake Wallet rates higher on our rubric: 3.3 against 3.2 for Edge. 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 Cake Wallet and Edge free?

Yes, both are free to download. What differs is who holds the keys: Cake Wallet is self-custodial, seed and keys generated and stored on your own device, with no account and no telemetry; Edge is self-custodial, keys encrypted on your device under your password before any backup leaves it.

Is Cake Wallet or Edge bitcoin-only?

Neither: both support assets beyond bitcoin. Cake Wallet: Multi-asset: Monero, bitcoin, Lightning, Litecoin, Ethereum, Solana, Zcash, Bitcoin Cash and more. Edge: Bitcoin plus Ethereum, Litecoin, Monero, XRP, Dogecoin, Dash, Solana and more.

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

More comparisons

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