Cake Wallet was founded in October 2017 by CEO Vic Sharma. The company’s main goal is to make using cryptocurrencies like bitcoin easier and more private. Cake Wallet is a Monero-only wallet that later added Bitcoin functionality. Its mission is to allow people to send, receive, hold, swap, and use cryptocurrencies easily, like with Venmo or PayPal.
Privacy is an important part of their mission, and they aim to make transactions more private. Sharma started using Bitcoin in 2013 and later became interested in Monero, which offers more privacy. This led him to create Cake Wallet in January 2018, focusing on the Monero cryptocurrency. In 2019, the company added the ability for users to make private bitcoin payments using Silent Payments.
Cake Wallet has also introduced features like Bird Pay, which allows users to send cryptocurrencies to contacts using just an X handle. However, the company has faced concerns about the legal implications of their privacy-focused technology. To address this, Sharma moved the company’s headquarters overseas and consults with legal experts to ensure they do not break any laws.
Despite these concerns, Cake Wallet remains committed to its mission of making cryptocurrencies easy and private to use. The team is dedicated to focusing on user needs and maintaining their privacy-first approach.
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<p>The post Cake Wallet: Simplifying and Securing Cryptocurrencies for All first appeared on CoinBuzzFeed.</p>
