Review on CAKE wallet by José A Rodríguez
The Perfect Macth for the XMR Token
Certain projects are trying hard to improve the services they already offer. Part of this depends on the basic service any blockchain should have. A wallet is the most prized need for any crypto-traders, because from this way they make sure their tokens are saved.
Cake Wallet is a wallet specially designed for the Monero network that is compatible just with the XMR token. Although it is a great option for this cryptocurrency, it is not the ideal service to have in the count. Many wallets permit multi-cryptocurrency storage, and I'd like this wallet to be the same. Perhaps, the company will innovate soon since they are very operative, anyway.
Storing Just one Token. Trading More Than Ten
The features of this wallet are not complex. It is easy, nice, and fast to download and use it. In fact, I've never seen a way of storing and trading XMR tokens so easily as this well-designed wallet. Currently, the company released the app also for Android users, so it is easy to find it in the app store.
Moreover, other benefits this wallet offers are part of the platform's multi-service features. On one hand, although the platform permits to store only Monero cryptocurrencies, the trading service is really active and offers to list for, currently, 13 cryptocurrencies including a stable token. The services are also available in three different exchanges. On the other hand, the Cake wallet works with an outstanding open-source that equips the wallet with its own dual-address, and permits to link different accounts in the same app.
I am not an XMR trader, however, I consider The Monero token should raise its value because it offers great benefits to customers and new crypto-holders. For this reason, the Cake Wallet is the perfect match for storing this token and making it appropriate to trade with a considerable list of the most commercial cryptocurrencies.
Pros
- In 2020, it surprised its users with the open-source app available for the Android operative system. The app offers the same good features. There are no major improvements until now, but it works without bugs or any other issue.
- It offers an impeccable security system and gives autonomy to its users. They are the ones who are in charge of their access password and seed phrases. Although it is a responsibility it is also a benefit to ensure anyone has access.
- Good technology usage. The mobile app, which is the only one existing, offers a modern view, and interface ideally designed for new crypto-holders.
- Multi-service wallet. Users can store, trade, or list coins on the wallet. The only token for storing is the XMR token. The trading section offers +10 cryptocurrencies.
Cons
- There is not a desktop version yet released, and there is no information about the coming updates.
- It just permits to store XMR token, the company should update it to become a multi-cryptocurrency wallet or, at least, try to raise the value of their token to make their overall services more commercial.
