Cake Wallet, founded by CEO Vik Sharma in October 2017, aims to make cryptocurrencies, particularly Bitcoin and Monero, more accessible and private for the masses. The company’s headquarters is located in Saint Kitts and Nevis, and its team operates remotely. Cake Wallet prioritizes user-friendliness and privacy, allowing users to send, receive, hold, swap, on-ramp, and off-ramp cryptocurrencies with ease.
Sharma’s interest in cryptocurrencies began in 2013 when he started acquiring and mining Bitcoin. He became aware of the transparent nature of Bitcoin after attempting to make a purchase on a darknet marketplace and subsequently having his Coinbase account suspended. This experience led him to discover Monero, a privacy-focused cryptocurrency.
Cake Wallet was founded with the goal of enabling private cryptocurrency transactions, starting with Monero-only support. In January 2018, Cake Wallet launched, and by January 2019, it added Bitcoin functionality. However, it wasn’t until September 2024 that the wallet introduced Silent Payments, allowing users to receive Bitcoin payments without revealing their public Bitcoin address.
This feature has been embraced by the Bitcoin and Monero communities but raises concerns about potential government scrutiny, as it provides privacy-enhancing technology. To mitigate legal risks, Sharma has moved Cake Wallet’s headquarters overseas and consults with the company’s general counsel for updates.
He remains committed to staying mission-driven and focusing on making Bitcoin easy and private to use. The company’s independence from venture capital money allows it to prioritize user needs and preferences.
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<p>The post Cake Wallet: Making Bitcoin Easy and Private for All first appeared on CoinBuzzFeed.</p>
