Cake Wallet vs Muun

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

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

Muun3.8Bitcoin-only

On-chain and Lightning in one balance behind a 2-of-2 multisig, backed up by an Emergency Kit file rather than twelve words.

Verdict: Muun

Muun rates higher on our rubric: 3.8 against 3.3 for Cake Wallet.

Criterion: Editorial rating
Cake Wallet: 3.3
Muun: 3.8

Cake Wallet and Muun, 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 Muun compared fact by fact from their reviews; a check marks the side a decidable criterion favours.
Fact	Cake Wallet	Muun
Editorial rating	3.3	3.8 (favoured on this row)
Status	Available	Available
Made by	Cake Labs	Muun
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, a 2-of-2 multisig where your phone holds one key and your Emergency Kit holds both
Bitcoin-only	No	Yes
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	One balance across on-chain and Lightning, with submarine swaps moving funds between the two
Released	2018, launched as the first open-source Monero wallet on iOS	Announced for iOS in October 2019, after the Android app
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

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

Muun

What works

One balance for on-chain and Lightning, so you never have to choose a rail before paying
2-of-2 multisig means a stolen or malware-infected phone alone cannot spend your bitcoin
The Emergency Kit carries both keys and the output descriptors, so recovery does not depend on Muun
Mempool-based fee estimator, with the method published rather than asserted
Free, self-custodial and bitcoin only on both iOS and Android

What to watch

Your backup is an Emergency Kit file plus a recovery code, not twelve words you can stamp into steel
The newest post on Muun's blog was written days before taproot activated in November 2021
Payments that need a submarine swap settle on chain, and mining fees on those have surprised users
No coin control, no hardware wallet pairing and no way to point it at your own node

Frequently asked questions

Is Cake Wallet or Muun better?

Muun rates higher on our rubric: 3.8 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 Cake Wallet and Muun 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; Muun is self-custodial, a 2-of-2 multisig where your phone holds one key and your Emergency Kit holds both.

Is Cake Wallet or Muun bitcoin-only?

Muun is bitcoin-only; Cake Wallet supports other assets too. Multi-asset: Monero, bitcoin, Lightning, Litecoin, Ethereum, Solana, Zcash, Bitcoin Cash and more

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

More comparisons

Every other head-to-head Cake Wallet or Muun appears in.