Replying to Avatar Garth Algar

Your response was to openmonero right :) ? Cause I didn’t get his statement either, which was:

“cakewallet knows your private key. It does not make any sense to call it self-custodial. It is basically a hot wallet”

??? A hot wallet can be self-custodial, so where is the problem…
89
894c61fd... 8mo ago 💬 2

A lot of third-party wallets claim to be non-custodial, but they might actually mess with your privacy, track what you do, or even put your funds at risk. To stay safe, stick with the official Monero wallets at getmonero.org.

Cakewallet requires an account, leaks metadata, and can track usage patterns.

Furthermore, I am uncertain whether Cake Wallet is fully non-custodial, as it raises the question of how their backend API facilitate swaps without access to your private key (how do they pull that off). It seems logical to conclude that they must have access to the private key for the swap process to function effectively. Because of that, I can’t really recommend this wallet, especially since it supports some shady tokens that might be tied to scams.

I’m not pushing any specific wallet, but if you want something clean and simple, check out monero-wallet-cli. It’s a solid choice!

#Privacy #Markets #HiddenService #News #Work #Monero #Crypto #Hacking #HarmReduction #Guides #Bisq #cakewallet #haveno #retoswap #trading #p2p #escrow #localmonero #dex #cex #moneroju #xmrbaazar #security #agorism #cypherphunk

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Discussion

6c
6c9e77af... 8mo ago

Cake Wallet is open source... you can verify the following yourself:

- Cake does not require an account.

- Cake provides nodes for convenience and, yes, they can track your IP and usage, which is why they advocate you point to your own node.

- For further privacy (IP obfuscation), TOR is fully supported and encouraged.

- For purchasing gift cards, only an email is needed as that's where the card is sent.

- Private keys are stored on the device and never shared... with anyone.

- Swaps are done through Trocador, a very popular service with an excellent reputation. Cake simply integrates their API.

Avatar
Saberhagen The Nameless 8mo ago

What? Cake Wallet doesn't require an account

Maybe you're confusing it with Cake Pay which you don't have to use and only requires an email (you can use a burner, alias, or email made specifically for this purpose but it's optional)