Topic: I may have found an multi-chain opensource wallet (Read 318 times)

Yes, the Cake wallet started as Monero only wallet before it become multi-crypto wallet. If you use it as a Monero wallet it should be good for that but the question is how good the wallet is if used as a storage for another crypto.

Yes, it is a good feature but code auditing is still important.

In crypto you dont just trust your holding on a stranger if you're not sure about crypto security.

As I can see after visiting the link you have provided, Cake Wallet is listed on the Monero website as one of the recommended and verified ones, or, as Monero devs themselves put it, "deemed safe by respected members of the community. Moreover, Cake Wallet is considered to be better than other mobile wallets since it has local synchronization and never shares keys with nodes it connects to update its view on the state of the blockchain. Like I said previously, with this wallet it is also possible to connect to your bitcoin node, particularly your personal Electrum server, to receive transaction information, which is also a very useful feature that most mobile wallets lack nowadays. On the other hand, if you're not technically competent enough in software development or code auditing, you don't have another choice but to trust Cake Wallet developers, who seem to be completely incompetent and inexperienced when it comes to bitcoin wallets development.

You're correct and this what I am trying to say.

There are a lot of Monero mobile wallets but the problem is knowing if the wallet has no backdoor log, bug, etc. Meanwhile, there are mobile lite wallets on the Monero website and I believe they are already verified.


That's cool then. I just want to be sure if their services are worth trusting.

tbh, I never heard of cakewallet before and just because it's open source doesn't necessarily mean it's safe and can be trusted.
I visited their github repository which you can find here: https://github.com/cake-tech/cake_wallet
As you can see, it received only 189 stars and have been forked 55 times!
Just to have an idea what those numbers means, you can compare it to Electrum which received 5.6k stars and has 2.7k forks.
So, cakewallet is not really that popular and doesn't have abig community. Personally, I won't use it as my main wallet.

If your dog eats the seed where you store your Monero, and your wife tears up the one that protects your Litecoin, your Bitcoin remains safe unless she finds out you are seeing someone else. But I agree with you that it's a weird way to do it. I expect a multi-currency wallet to be simple. If I have to store recovery phrases for each and every coin, I can just download individual wallets for each of my assets. Considering the issues Cake wallet had with the RNG for their 12-word seeds, it's better to use something else.   

Google play ratings are not reliable for measuring the quality of a wallet.



Although open source is usually good, if you don't have the knowledge for checking the code yourself, best would be to rely on the already known/trusted wallets.

There is a saying that goes, "Do not just trust, verify"

Can you verify that trust wallet stores your seeds online? No, you can't because you can't view their source code and verify.

Sorry to disappoint you, but each service or wallet has a negative review or complaint on playstore because some newbies don't know how to use wallets and the nature of devices they might be using. Check out your so-called Trust wallet, you will see the same complaints all over.


it's an open source project that verifies claims made by different wallets. Different members create issues or even make contributions. Obviously you shouldn't blindly follow anything anyone says, but you can also verify the claims.

Maybe this can be of help to you - https://walletscrutiny.com/methodology/

A key thing is that an open-source wallet must be popular enough to have variety of contributors as well as code auditors. Even you have necessary skills to audit the code yourself, it doesn't help much if there are no other people interested in this wallet. No matter how good you are at coding, you won't find all the bugs or backdoors that a particular wallet may have.

I am just wondering if there are any mobile wallets for Monero that are better than this one.

As far as I know, Walletscrutiny is pretty transparent about what they are doing and how they check wallets. Essentially, they take the published source code, build an application from this source and compare it to published binaries. They make a verdict based on the results of verification. That's all. It is in their interests to stay honest, otherwise, their service simply won't make any sense. However,  you don't need to trust them or rely on them when choosing your wallet, neither should you care about their reliability. You can just take the same code and try to build from it. Don't trust, verify.

It's better to use well known open source wallet than use a wallet in which no one knows the team's reputation.
But Trustwallet is not open source.

Based on what I read on their site, they started with Monero before they added more crypto


I have seen many users of the forum talking about walletscrutiny but reliable is their service?

There's no point for anyone to use the wallet that experiences this situation.

You need to understand the importance of using a popular crypto wallet, whatever may come up or whatever people are facing using a popular crypto wallet can't be hidden, you will at least be aware of any possible threat but what if the crypto wallet isn't popular? Even if someone have a bad experience using them how will you know?. Stay away from wallets that people are not using.

I wouldn't call it a multicurrency wallet since it only supports BTC, Monero, and Litecoin, but what is more interesting is that you have to create a separate wallet (seed) for each of these currencies to use them. For some reason, they seem to haven't ever heard of BIP44, where you can use a single seed to maintain access to keys for hundreds of different cryptocurrencies on different blockchains. Maybe I am just nitpicking and this design is perfectly justified if seen from a different angle. One thing that I definitely like about Cake Wallet is that, unlike other multicurrency wallets, it allows a user to choose which server to connect to. For Bitcoin, for example, you can connect to a default Cake's Electrum server or you can specify your own address and port. If you set up your private server, Cake won't have an idea about your transactions nor will it be able to learn your IP address. You also have an option of choosing your own node when using Monero and Litecoin wallets, which is fascinating and so rarely seen in modern mobile cryptocurrency wallets. What I don't like about this wallet is that it has very poor protection in a form of a 4-digit PIN, which, if obtained or hacked by a malicious actor, can be used to access your sensitive information (WIF, xpub, xprv, seed words). I can't come up with a reason why wallets even should have such an option of showing confidential information, except for helping hackers secretly wait for users to make large deposits on their wallets.

Its better to stick with trust wallet, it has fewer issues than many mobile wallets, about this unstoppable wallet there are complains about fund missing and swap taking too much money, you need to read some reviews on playstore first before using, also zcash blockchain takes forever to sync correctly, its very slow.

How about Unstoppable wallet by Horizontal systems?

I think It's a much better multichain open source wallet. On top of that, it's reproducible too and has been tested by wallet scrutiny
You can check the analysis done 2 weeks ago here - https://walletscrutiny.com/android/io.horizontalsystems.bankwallet/

Whereas cake wallet has not been proven to be reproducible from the source provided according to an analysis 12 months ago - https://walletscrutiny.com/android/com.cakewallet.cake_wallet/

Cake wallet doesn't look and work anything like Electrum wallet in any way and I remember they had big issues few months ago with their Bitcoin wallet, when they demanded mandatory change of seed words and addresses.
One more thing I don't like about Cake wallet is alternative option to backup wallets on cloud, that is something unacceptable for me even if it is optional feature.
I am not saying this is worst wallet in the world and it is open source, but I would not use it as my main mobile wallet.

if you just want to be knowledgeable about open source wallets, it's fine to give it a try, but I wouldn't entrust my digital assets to a mobile wallet that I haven't used and don't have many users. it's better to use a mobile wallet that has a definite development, it's definitely secure, such as Trustwallet, ImToken, Safepal, electrum etc.

For the Cake Wallet you mentioned, it is more specific for the Monero Wallet (XMR).

This wallet has been around for about a year, however I haven't heard of them in general, being an open source wallet is a good thing if many people review the code or you do it yourself.

I don't know why there are not many details about it, but it is better not to use it with large stocks.

They do not have an excellent rating on Google Play, and I also see many bugs on github.

Anyway the support limited number of alts

Finally I may have found a multi chain open source crypto wallet but its wrong not to talk about it on here, who knows I may be wrong, its named cake wallet and its website is https://cakewallet.com/  this website also stated that its an open-source wallet and it looks like Electrum wallet kinda styles so here you have it guys.