Cake Wallet vs Wasabi Wallet

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.

Wasabi Wallet3.6Bitcoin-onlyWarning

Still a working bitcoin wallet, but the coinjoin coordinator that made its name was switched off by zkSNACKs on June 1, 2024.

Verdict: Wasabi Wallet

Wasabi Wallet rates higher on our rubric: 3.6 against 3.3 for Cake Wallet.

Criterion: Editorial rating
Cake Wallet: 3.3
Wasabi Wallet: 3.6

Cake Wallet and Wasabi 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.

Cake Wallet and Wasabi Wallet compared fact by fact from their reviews; a check marks the side a decidable criterion favours.
Fact	Cake Wallet	Wasabi Wallet
Editorial rating	3.3	3.6 (favoured on this row)
Status	Available	Caution: see the review
Made by	Cake Labs	zkSNACKs
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 generated and stored on your own computer, never held by zkSNACKs
Bitcoin-only	No	Yes
Runs on	iOS, Android, Windows, macOS, Linux	Windows, macOS, Linux
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	All traffic over Tor by default, compact block filters instead of a server that learns your addresses, and hardware signing through HWI for Trezor, Coldcard, Ledger, Blockstream Jade and BitBox02
Released	2018, launched as the first open-source Monero wallet on iOS	2018; the download page serves version 2.8.1 for Windows, macOS and Linux
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

Wasabi Wallet

What works

Bitcoin only and open source under an MIT license, with a public repository that is still actively developed
Self-custodial: keys are generated and stored on your own computer, and zkSNACKs never held funds
Every connection runs over Tor by default, and compact block filters mean no server learns which addresses are yours
Hardware wallet signing through HWI for Trezor, Coldcard, Ledger, Blockstream Jade and BitBox02
Full coin control, transaction labeling and privacy suggestions that name who will learn about a payment
Coinjoin is still in the software: you add a third-party coordinator in place of the one zkSNACKs ran

What to watch

zkSNACKs switched off its coinjoin coordinator on June 1, 2024, so the feature Wasabi was known for no longer works out of the box
Choosing and vetting a third-party coordinator is now your problem, and each sets its own fees and terms
Desktop only: Wasabi's own site states it is not available on mobile
Trezor Suite coinjoin and BTCPay Server integrations that used the same coordinator broke on the same day
Silent payments are send-only: Wasabi cannot yet generate or receive to a silent payment address

Frequently asked questions

Is Cake Wallet or Wasabi Wallet better?

Wasabi Wallet rates higher on our rubric: 3.6 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 Wasabi Wallet 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; Wasabi Wallet is self-custodial, keys generated and stored on your own computer, never held by zkSNACKs.

Is Cake Wallet or Wasabi Wallet bitcoin-only?

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

Does Cake Wallet or Wasabi Wallet carry a warning?

Wasabi Wallet: zkSNACKs announced on May 2, 2024, days after US prosecutors charged the founders of Samourai Wallet, that it would discontinue the coinjoin coordination service behind Wasabi's headline privacy feature, and switched it off on June 1, 2024. The wallet is still developed and still works as a self-custodial, bitcoin-only desktop wallet, and coinjoin remains in the software, but you now have to find and trust a third-party coordinator to use it.

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

More comparisons

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