Cake Wallet vs Electrum
They are level on Privacy. Electrum has the higher Safety grade, 8.5 against 7.4.
Cake Wallet
Open-source multi-coin mobile and desktop wallet with strong Monero support
Privacy
8.6/ 10
Excellent
Safety
7.4/ 10
Strong
ID never required KYC 0 Docs reviewed Full review →
Electrum
Long-established open-source Bitcoin wallet with Lightning support
Privacy
8.6/ 10
Excellent
Safety
8.5/ 10
Excellent
ID never required KYC 0 Docs reviewed Full review →
Side by side
| Cake Wallet | Electrum | |
|---|---|---|
| Category | Wallets | Wallets |
| KYC policy | ID never required | ID never required |
| Custody | Non Custodial | Non Custodial |
| Sign-up | No account needed | No account needed |
| Open source | Yes | Yes |
| Tor onion address | No | No |
| Coins | XMR, BTC, ETH, LTC, USDT | BTC |
| Founded | 2018 | 2011 |
| Jurisdiction | Not published | Germany |
| Incidents on record | 0 | 0 |
| Published tests (180 days) | 0 | 0 |
Only Cake Wallet
Accepts MoneroThird-party liquidity
Both
No registrationNo email neededNo phone neededOpen sourceNon-custodial5+ years operating
Only Electrum
Accepts LightningLegal entity disclosed
Where they sit among wallets
Questions
Is Cake Wallet or Electrum safer?
Electrum has the higher Safety grade: Cake Wallet 7.4, Electrum 8.5, out of 10.
Does Cake Wallet or Electrum require KYC?
Cake Wallet is KYC level 0 (ID never required). Electrum is KYC level 0 (ID never required).
Which has more incidents on record?
Cake Wallet has 0 and Electrum has 0 documented incidents in the registry.