Cake Wallet vs Coinbase Comparison

Bitcoin, Zcash, Ethereum and the other networks use a 12- or 24-word BIP39 phrase. New Monero wallets default to the 16-word Polyseed format; a 25-word Monero seed or a 12-word BIP39 phrase can be chosen instead. Only BIP39 wallets can share one phrase across several networks.

A Coinbase account has no seed phrase and no private keys for you to keep. Coinbase holds the keys to the blockchain addresses where customer coins sit, often addresses shared by many customers. You sign in with a password and 2-step verification, and you can take coins out only by asking Coinbase to send them to an address you control. Coinbase's separate self-custody app, the Base app (formerly Coinbase Wallet), works differently and is not covered here.

Cake Wallet's terms name Cake Labs LLC, a limited liability company formed under the laws of Nevis, and say disputes are governed by Florida law. The App Store lists the developer as Cake Technologies, LLC.

In the US the user agreement is with Coinbase, Inc. and is governed by California law. Its parent, Coinbase Global, Inc., moved its incorporation from Delaware to Texas on 15 December 2025 and has no headquarters, describing itself as remote-first. In the EEA, Coinbase Ireland Limited, Coinbase Europe Limited and Coinbase Germany GmbH are joint controllers of your personal data, and that data can be transferred to Coinbase, Inc. in the US.

Founded by Vikrant Sharma, its CEO, who started the company in 2017; Cake Wallet launched in 2018 as a Monero wallet for iOS. Cake Labs also makes Monero.com, Cake Pay and Cupcake.

Coinbase, Inc. was founded in 2012 and has been a wholly owned subsidiary of Coinbase Global, Inc. since April 2014. Coinbase Global's shares trade on Nasdaq under the ticker COIN, so it files annual and quarterly reports with the US Securities and Exchange Commission.