Cake Wallet vs SafePal Comparison
| Feature | ||
|---|---|---|
| Overview | ||
| Rating | 7.1 | 5.5 |
| Type | Software wallet | Software wallet |
| Price | Not specified | Not specified |
| Free to use | Yes | Yes |
| Established | 2018 | 2018 |
| Platforms |  Android iOSmacOS Linux | AndroidiOS Browser extension |
| Networks |  Monero Bitcoin Lightning (through a third party) Litecoin Zcash Ethereum Polygon Arbitrum Base BNB Chain Solana Tron Bitcoin Cash Dogecoin | BitcoinEthereumBNB ChainSolanaTron XRP CardanoLitecoinBitcoin CashDogecoinZcashPolygonArbitrum OptimismBase Avalanche |
| Keys & recovery | ||
| Who holds the keys | You hold the keysShow detailsHide detailsBitcoin, 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. | You hold the keysShow detailsHide detailsThe phone app creates a 12- or 24-word BIP39 phrase (BIP39/44 derivation); the browser extension creates its own phrase at setup. Wallets can also be imported from a private key. |
| Seed format | Standard phrase (BIP39) | Standard phrase (BIP39) |
| Seed portability | Restores in other wallets | Restores in other wallets |
| Passphrase | Yes | Yes |
| Recovery | Seed phrase | Seed phrase |
| Multisig | Not supported | Not supported |
| Network & metadata | ||
| Default server | The vendor's servers | The vendor's servers |
| Own node | Supported | Limited |
| Tor | Built in | Not supported |
| Coin control | Full | Limited |
| ID for in-app buying | Yes | Yes |
| Device purchase | Not applicable | Not applicable |
| Device | ||
| Secure element | Not applicable | Not applicable |
| Air-gapped | Not applicable | Not applicable |
| Firmware code | Not applicable | Not applicable |
| Trust & transparency | ||
| App code | Fully open source | Closed source |
| Server code | Partly open source | Closed source |
| Reproducible builds | No | No |
| Security audit | None on record | None on record |
| Bug bounty | No | No |
| Jurisdiction | NevisShow detailsHide detailsCake 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. | Not statedShow detailsHide detailsSafePal's terms and privacy policy name SkyGenesis Holdings Limited but give no country of registration or governing law. The App Store lists the seller as SAFEPAL LTD.; Google Play lists the developer as BitTech Group Limited with an address in Wan Chai, Hong Kong. The privacy policy says personal data may be moved to Singapore, Hong Kong, mainland China and the United States. |
| Owner | Cake Labs LLCShow detailsHide detailsFounded 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. | SkyGenesis Holdings LimitedShow detailsHide detailsFounded in 2018 by Veronica Wong and two co-founders, starting as a hardware wallet maker. SafePal names Binance, Animoca Brands and Superscrypt as its backers, and says it has made a strategic investment in Fiat24, the Swiss-regulated financial institution behind its in-app IBAN account and Mastercard. |
| Telemetry | Opt-in | Always on |
| Past incident | Yes | Yes |
