Cake Technologies
reviews and complaints

Don't ever use this app. I sent LTC to Cake Wallet and now it's trapped. Attempts at exchanging and sending aren't going through or posting to the blockchain despite my leaving enough for fees. They're not showing up on Blockchair. They always get stuck on pending. Nothing works on iOS or Android. I tried reconnecting and re-importing the wallet. There's not even any error message for why these transactions aren't being posted or processed.

As an iOS developer myself I’m being fair here- this is a very good app, but be very careful when using Cake Wallet. What is secure one day is not secure the next.

Very good interface, great for what it does and facilitates with a few caveats. But they really dropped the ball on security and opened themselves up to vulnerabilities and in turn got a bunch of their users money stolen, myself included.

And lets be honest app support is non-existant.

It gets worse and worse. Full balance will say I have so much, but then available balance goes from the full amount to zero every other second and I can’t get transactions done when I need to. Currently I’ve been waiting 1 1/2 hours for transactions that should take 15min at most and I’m still not done. But I am done with Cake. I’m sorry. I wish I could leave a good review, but it’s gotten so bad with random dumb error messages, I’m done. If you have any other options to use, to that route. Cake is so bad lately, it’s not even worth trying.

After making a couple of test deposits, last night, I decided to migrate a large sum of BTC to my cake wallet. 27 minutes after doing so, a “send” / transfer out took place that was .0001 less than what I had deposited. This was not initiated by me nor to and address that I know.

I spoke with a friend that is using cake as well and he has recently had a similar experience.

My keys were written down on paper and stored in my safe, they weren’t available.

Something very sketchy about this. I reached out to support via email with no response as of yet.

I have been trading crypto for 10 years and thought I’d start trading with XMR, boy was that a mistake. I deposited money just to find out exactly how difficult it was going to be to get it returned to my account outside of this one. It has been a huge nightmare and EVERYTIME I log in my account grows smaller and smaller. 1000% complete rip-off. I am still waiting for a phone number to appear somewhere so I can actually talk to a human. I saw they’re down the street from me in Orlando so maybe I’ll pay a visit to the office and let them know how I feel about thieves in my area. Live and Learn I guess. Sincerely, Karma

The problem has since been fixed but Cake designed an app with insufficient security (inadequate seed generation) on their Btc wallet and the last version of the app had no push notification functionality so their ability to tell anyone they screwed up was non existent. The problem creates a security breach in which scammers could decode decode you not at all random sees and steal your Btc as soon as it hit the wallet. The only notification of this was a Twitter post and later an entire Reddit sub of people who lost Btc. Xmr wallet is great but just use changenow.io directly to avoid giving them Btc. The seed flaw was bad enough that they are either idiots or where in on it.

So far this is the best XMR Mobile wallet if you care about privacy. I had some issues at first trying to figure out where my coins were, but then realized you need to wait for the wallet to sync fully before seeing your balance. This is a much better wallet than MyMonero and in my opinion a very important tool in the crypto space. Currently it’s the only mobile crypto wallet that provides its users complete privacy when transacting. This is something no other crypto currency offers. Thank you for the hard work devs. Looking forward to seeing future updates and will do what I can to support you guys.

Heads up to new users:
IF YOU ARE HAVING ISSUES SEEING YOUR TRANSACTIONS YOU MUST WAIT FOR THE WALLET TO FULLY SYNC

There really is nothing better than this wallet. I love this wallet so much. When I think of cake wallet, I get the same warm feelings I had at 90s raves munching pac man pills. Seriously, that’s how much I love cake wallet. Feels like I’m rolling every time I use it. You won’t find another wallet as good as cake wallet. I truly hope they continue to grow and become more than just a wallet in the future. I hope they become the .01% best of wallets. Fiat on ramps, maybe even a market place people can buy and sell from each other, something like localbitcoin. And eventually, it’s own super privacy exchange for trading privacy coins. Okay, I’m gonna go take a cold shower now. No need to look further, just download cakewallet and don’t look back.

I tried to transfer funds from one cake wallet to another and the first time it was 50 dollars took 7 hours for that to go through with the change from Bitcoin to xmr. So then I tried to transfer 100 dollars it’s been 3 or 4 days now. Reached out to customer service and they have been telling me that there is an error in the programming and I should be in my account now when I do the update. Did the update no xmr received yet going on day 4 or 5 lost count. They will lose your money. I hope they can find my money. Good luck! There are a lot of wallets out there and it seems to me to just get a xmr wallet run local nodes and run through an straight exchange will be cheaper and take way less time. Would give it one star but the other transfer went through.

I’m coming back to once again say that Cake Wallet has failed me. It’s locked nearly my entire balance - coins that have been co firmed for a couple weeks - and even restoring the wallet onto another device isn’t possible. I don’t know why this is the only Wallet that I’ve ever had a problem with. The “Restore” button doesn’t even light up even after entering all of the necessary info.

Originally I left a one star review for Cake Wallet. At the time I think it was warranted. However, I’ve been using it since on both iOS and Android. And I’ve come back to say that I really appreciate and even like the app today in 2022. Being able to swap Monero into BTC is extremely convenient as well. Bottom line is that the problems seemed to have been fixed, it’s fast, and it looks good.

Short review: Fantastic open source self-custody mobile wallet

Longer review: I’ve used Cake for about a year now, got it when it only supported Monero. I have had 0 issues, HOWEVER, it is clear (given the nature of how Monero currently works, as well as some of the other reviews I’ve seen) that noobs may run into issues or get confused. I implore everyone who downloads this app (or the Monero.com app) to educate themselves on how Monero works as well as common-sense ways of keeping your funds secure.

Everything from not understanding that your wallet client needs to scan recent blocks in order to “see” transactions where it received/spent funds, to not understanding the sanctity and importance of your seed phrase could cause issues for those who are just getting started with Monero. I don’t think this is an issue that the dev team can really fix, spare for forcing informative materials in front of every new user, which would be less than ideal.

First off, this review is mostly about the UI and not the function. It works fine.

Pros:
Works to send and receive.

Cons:
I absolutely despise the UI (in my opinion, I respect yours if you like it so please respect mine).

It’s super inconvenient to have the most basic functions of a wallet on three different pages, on the left you have your QR code, middle you have your balance with a bunch of wasted space around it, and on the right you have transactions. Those things can fit on one page, and have a button to show your QR code.

I really don’t understand the point of having an exchange built into a wallet that only supports (currently) three currencies. It would be much easier and convenient to go to the website for the exchange.

You can’t rename wallets. You are stuck with the two random words it picks and most of the time they are very strange.

In conclusion: I really don’t recommend this wallet. At all. I would recommend edge Wallet because it supports many currencies, has an amazing UI, has great customer support, and supports buying in app. I love the UI in edge because it’s right between classic and modern. And Cake Wallet is over modernized, and looks hideous.

There is no way this wallet becomes popular unless more currencies are added and the horrible UI is fixed. If these things are done I’ll give it another try.

I’ve used tons of exchange wallets, never have I used one that allowed my BTC to be stolen by a third party while exchanging to XMR. Next.

I made an exchange from btc to xmr and received nothing. I contacted customer service and they didn't solve anything. I lost my btc. watch out

Sent about $20 worth of btc to the address and I haven’t gotten any of it back still waiting to receive it but it’s highly unlikely thanks a lot cake wallet

Nothing loads now when you try and open the app you are greeted with a blank screen. Sweet when an app you are supposed to trust with your money takes it hostage.

Tried to transfer btc to xmr went to a different wallet brought me to”change.io” tried to refund it back from the website to my btc wallet and told me to deposit money..

BTC wallet not syncing. Only just started happening. I have money in limbo now and there’s nothing on support page in reference to this issue. Before today it’s always worked great.

Robbed just like all other users on here. Don’t put your money on here. I checked my wallet and there is a transaction taking all my xmr. Careful out there folks. This one here is a scam 100%

I have had problems with this wallet and LOST MONEY since beginning to use it. Did their update and no saying the wallet will not load and I have now lost all the money that was in the wallet. Do not use! Stay away.

Added support for Zcash which has been widely know for its links to literal murders and scams of users. They paid 250k to get Zcash added and cakewallet sold out for it.

Can’t support this transition from monero to Zcash.

Every time I try to exchange come into bitcoin the app crashes and takes me to my home screen. It won’t let me confirm the transaction, it crashes every time. Does this have something to do with the nodes or bugs on the app?

Every time I try to send monero to another address it says "one of destinations is zero". It rarely works, if I ever want to send monero it takes more than 20 tries for it to actually send. Please do not use this as a wallet unless you want problems.

What the heck, Cake Wallet? This app was perfect for Monero. I bought a lot when the price was HIGH. Now that the price is super LOW and I want to buy MORE the exchange isn’t working. It will work for all other coins except Monero.
FAIL FAIL FAIL FAIL FAIL

I used to believe in this app but today did the Bitcoin to monero exchange and it sent 5000 to an unknown address. And they will not help with it. Worst day ever thanx also the balance that I had 200 went missing without a trace and I can’t get at the remaining 400 which is dwindling

There’s wording that would limits the developers liability in the case of malware or hacks. Say what you will, but ultimately it leaves open an exit plan “just incase.” A wallet app should take the same stance as the captain goes down with the ship. Otherwise it’s quasi-centralized. Open source or not

I would not recommend. They used to be fantastic for conversions but I’m pretty sure they’re getting ready to exit scam. None of my conversions are happening, they’re getting lost along the way and their app suspiciously doesn’t actually allow you to copy and paste the transaction ID. Find somewhere else to convert your crypto, because this ain’t the one.

Had $25 in bitcoin and it said it would be a $4 fee to transfer to xmr and turns out they took my money because I ended up with $11 in xmr, that’s literally half. I do not care if varying fee is up to 3rd party vendors, there should be a disclaimer if you’re gonna almost triple my fee without my consent. Needless to say I will not be using this app ever again.

The exchange system is broken. You’re provided an estimate instead of a guarantee, and that estimate is largely inaccurate. I lost BTC to an exchange site and wasn’t told how much XMR I’d ACTUALLY receive from it until the BTC was already sent. That’s not how an exchange works. You should see a guaranteed send and receive amount and be able to choose if you want to do it based off of that, not based off of a gamble.

It’s like a flip of a quarter whether or not you’re gonna have a good experience or not. I’ve used this app/wallet twice, the first time it went well. this more recent second time I used it I have had a TERRIBLE experience this time. I used there in app exchange that lets you exchange crypto currencies, and I never got the new exchanged crypto currency it took it out of my wallet but never put anything in my other wallet.