Cake Wallet Is The Most Preferred Wallet For Monero » News Live TV » Technology

The blockchain technology is committed to bring a revolution in the world we are currently living in. Things are changing so rapidly that in the next few years we may see Web 3 taking over a major part of the world.

Those who are already a part of the crypto world understand the importance of a wallet. Only a wallet helps the users keep, send, receive and exchange crypto assets from one place to another. And to have a wallet which is easy, safe and fun to use is a blessing of its own.

Cake Wallet in the past few years has turned out to be a great option for those who love to deal with crypto currencies on a daily basis. Owned and operated by Cake Labs LLC, Cake Wallet was the first open source Monero wallet on IOS in 2018 and by early 2020 it became available on Android as well.

The growth chart of Cake Wallet has gone from strength to strength as in 2021, it started supporting BTC (Electrum) wallet and LTC (Electrum) wallet.

The open source non-custodial wallet which currently supports XMR, BTC, XHV and LTC has over 250,000 users and does over $200 million in exchange volume every year.

The growing popularity of Cake Wallet is the biggest proof of the love users have for it and is also the guarantee of its efficiency. But that’s not it! In two recent Reddit polls, Monero users preferred Cake Wallet 2-1 over its closest competitor.

Cake Wallet has taken a giant leap of success in a short time but it’s purely because of the team’s passion, dedication and self-belief. In 2017 it was close to impossible to find Monero specific blockchain engineers. This is when some of the most competent blockchain engineers were hired and were trained for Monero’s blockchain and also how to build an iOS app.

Cake Technologies’ goal is to bring crypto to the masses through a simple intuitive UI/UX for beginners yet robust features for more advanced users. It promises to add a lightning network for Bitcoin and MWEB for Litecoin in the future.