Blog Post

Cake Wallet – The All in One Monero Wallet

Sudarshan M • January 18, 2020

Monero is a privacy-centered cryptocurrency , built on the principles of blockchain technology. It was initiated to ensure user-privacy is kept at the heart of all development. And that is precisely what makes development on the platform much more complex and time-consuming. This complexity had formed a gap in the wallet market, as most developers did not come forward to develop user-centric wallets that supported Monero. That is until Cake Wallet!

What is Monero and Why is it so complex?

Monero (XMR) is a privacy-centric cryptocurrency that originally forked from Bytecoin. Quickly, Monero received considerable fame and became one of the highest-ranked cryptocurrencies by market cap.

Monero hides the sender’s identity through Ring Signatures, transaction amount through Bulletproofs, and receiver’s identity through Stealth Addresses.  Analysis of the Monero, XMR, blockchain would reveal nothing more than a cryptographic hash of the transaction. Monero’s fame can be attributed to its internal complexity.

The Monero team actively tries to make the project as decentralized as possible. One of the ways for doing this is to discourage ASIC mining, as it could bring centralization to those who hold more hash power.

If one has followed the development of Monero over the years, they might understand that the community behind developing Monero is highly decentralized and so the process happened quite slowly. In the 4+ years since its inception, support for Monero grew slowly but surely. There was a time when mobile wallets were absolutely non-existent.

But as the ecosystem grew and began to thrive, a wallet for mobile devices started to emerge and won over the Monero developer community. Let us now look at the first mobile wallet that emerged with support for XMR.

Cake Wallet – The First Fully Functional Monero Wallet

Released in 2018, Cake Wallet was the first mobile open source wallet for Monero on iOS.

In April 2018, the developers of Cake Wallet announced that Cake Wallet has finally gained approval and is now listed on Monero’s official website. Initially, the wallet was released for the iOS platform as there was a competitor available for Androids. In January of 2020, Cake Wallet also released an Android version of the Wallet.

During its pre-release, the wallet’s code was closed source, which was highly discouraged by the community who wanted all development to be open for scrutiny to all users. And so, in February 2018, the Cake Wallet team took the community’s feedback on board and open-sourced the code , thus powering the wallet.

It is very important to know that the development team behind Cake Wallet has worked immensely hard in making sure all of their plans are aligned with the Community’s best interest. For this reason, they had to conduct several changes, work with the Monero community, and make sacrifices just to ensure that they lead the market.

The mobile app is a wallet that allows you to access the Monero network without having to download all the network data. Also, you have possession of your private keys , thus giving you full control over your funds.

As per the official website, some of the major features of the wallet include:

  • Store, send and receive Monero
  • Create multiple new wallets
  • Hold your own private keys
  • Restore wallets from block-height or date
  • Set your transaction speed
  • Choose your own currency
  • Set your own node/daemon
  • Face ID
  • Exhange Monero and other cryptocurrencies within the wallet.

What Sets Cake Wallet Apart

Control your seed/keys

“Not your keys, not your coins” is a saying that gets passed around a lot in this blockchain space. Cake Wallet takes this principle very seriously. Users of the cake wallet are given full ownership of the funds that they store. A mnemonic phrase is provided to any user, which can be used to restore the wallet at any point.

In-Wallet Exchange

Cake Wallet can be considered as the safest and most popular Monero wallet for transferring and storing. One of the additional features of the wallet includes easily exchanging Monero to other cryptocurrencies within the Wallet, without the hassles of an exchange. The supported cryptocurrencies, for now, include BTC , LTC , ETH , BCH , DASH , USDT , EOS , XRP , TRX , BNB , ADA , XLM , and NANO and more are on their way.

Adjustable Transaction Speed

Cake Wallet also allows its users to adjust the speed at which transactions can be sent. Users can set slow, normal, or fast for the transaction.

Biometric Authentication

Like most top of the line applications, the Wallet also allows to set-up biometric authentication on their devices. Users can set up fingerprint lock or Face ID lock, depending upon the device they use. This service is open to both the iOS and Android devices. Interestingly, Cake Wallet is the first mobile wallet in the Monero community to support biometric authentication.

Wallet backup

To decrease the chances of losing the wallet, either due to loss of device or change of device, users can back up their wallets through the iCloud and other locations. By backing up their wallets and linking them to the device’s account, users can reopen the wallet on another device by logging in through their iCloud and other accounts

Useful Links

Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. None of the content on Crypto Folds is investment advice nor is it a replacement for advice from a certified financial planner. Please do your own research before purchasing or investing into any cryptocurrency.  

Revolutionize Your Crypto Trading Experience with Agrifi's Decentralized Exchange (DEX)

By Press Release • March 26, 2025
Decentralized Exchanges (DEX) have become a game-changer for crypto enthusiasts in the fast-paced financial world we’re in today. These platforms provide enhanced security, transparency, and full control over digital assets. Agrifi is at the forefront of this innovation, introducing an advanced DEX where users can seamlessly trade AGF tokens with popular cryptocurrencies like USDT, ETH, and MATIC, as well as participate in liquidity provision to earn valuable LP tokens.  Seamless Crypto Trading Agrifi’s Decentralized Exchange allows users to effortlessly swap AGF tokens for major cryptocurrencies like USDT, ETH, and MATIC. Unlike traditional exchanges, our DEX offers a secure, transparent, and censorship-resistant trading environment. Transactions occur directly between users, eliminating the need for intermediaries and significantly reducing transaction costs. Even newcomers can navigate our intuitive and user-friendly interface with ease. With just a few clicks, you can trade tokens securely, optimizing the flexibility and efficiency of your crypto portfolio. Since this decentralized method ensures your funds remain under your control at all times, it greatly minimizes the risk of centralized hacks or losses. Earn Rewards Through Liquidity Provision Beyond simple trading, Agrifi gives users a unique opportunity to earn passive income by providing liquidity to the exchange. When users deposit token pairs (such as AGF-USDT, AGF-ETH, or AGF-MATIC) into our liquidity pools, they receive Liquidity Provider (LP) tokens in return. These tokens serve as proof of participation and entitle holders to a share of transaction fees generated within the pool. Providing liquidity not only offers a steady stream of rewards but also strengthens the exchange’s stability and functionality. This helps traders experience minimal slippage and smooth transactions, making liquidity provision a mutually beneficial endeavor that supports both individual users and the broader Agrifi ecosystem. Why Choose Agrifi's DEX? Agrifi isn’t just another decentralized exchange—it’s a complete financial ecosystem built on sustainability and long-term value creation. Our DEX operates on robust blockchain technology, ensuring top-tier security and transparency. Thanks to decentralized governance, our platform continuously evolves to meet community needs, fostering fair, user-driven decision-making. Blockchain integration guarantees that every transaction is immutable, transparent, and secure. You can trade with confidence, knowing that your investments are safeguarded, verifiable, and entirely under your control. Join Our Growing Community Stay connected and informed by following Agrifi on our official platforms: Telegram : https://t.me/agrifi Twitter : https://twitter.com/agrifi_tech Facebook : https://facebook.com/agrifitech Instagram : https://instagram.com/agrifi.tech Community Telegram : https://t.me/agrifi_official Start Your Decentralized Trading Journey Today! With Agrifi’s DEX, experience the future of decentralized finance today. Trade securely, earn rewards through liquidity provision, and join a thriving community committed to innovation, transparency, and sustainability. Don’t miss out on this opportunity to grow your crypto portfolio with Agrifi’s cutting-edge DEX platform. Explore now and be part of the decentralized revolution!

Codego Launches CDG: New Plug-and-Play Devices for Effortless Daily Passive Income

By Press Release • March 26, 2025
The CDG project has officially launched, introducing an innovative solution that enables everyone to earn passive income directly from their homes. With just a compact device, a power outlet, and an internet connection, CDG simplifies earning predictable, reliable, and hassle-free daily income.  Earn Daily Rewards Effortlessly CDG offers two user-friendly models: CDG Home and CDG Power Home , which provide GPU computing power to a decentralized computing network. In return, device owners receive daily rewards in the form of CDG credits. CDG credits operate similarly to loyalty points and can be conveniently exchanged for fiat currency through the easy-to-use CodegoPay app , available on both iOS and Android. Each credit maintains a guaranteed minimum value, ensuring consistent and predictable earnings. Why CDG is Different The concept of sharing computing resources isn't new, but CDG's implementation is uniquely accessible and efficient. CDG devices are incredibly energy-efficient: the CDG Home model consumes just 10 watts , and the powerful CDG Power Home uses only 30 watts . Designed for home use, these devices are compact, quiet, and discreet, seamlessly blending into any living space. Device owners begin generating income immediately upon activation. The CDG Home device generates a minimum of $5 per day , while the CDG Power Home offers at least $20 per day . Setup is straightforward, requiring no technical expertise. Simply plug the device in, connect through the CodegoPay app, and instantly start earning. Quick Start Guide Getting started with CDG is easy: Download the CodegoPay app (Android or iOS ), and open your account to receive your personal IBAN instantly. Order your preferred CDG device via the app or through an authorized reseller. Activate your device using CDG credits with a few simple taps. Your daily earnings will be tracked in real time within the app. Pricing and Activation CDG offers two versatile device models: CDG Home : Priced at $2,500 , requiring 10,000 CDG credits for activation. It consumes only 10 watts and delivers daily rewards of 50 CDG credits , valued at a minimum of $5 per day . CDG Power Home : Available for $10,000 , requiring 40,000 CDG credits for activation. It consumes just 30 watts , providing daily earnings of 200 CDG credits , equivalent to at least $20 per day . Earn Even More with Referrals CDG users can further increase their income through a rewarding referral program: Earn €150 cash for every friend who purchases a CDG Home , plus your friend receives a €50 discount . Receive €600 cash for every friend who purchases a CDG Power Home , with your friend enjoying a €200 discount . Referral bonuses are paid directly to your bank account via the CodegoPay app. Contributing to a Growing Global Network By owning a CDG device, users actively contribute to a decentralized GPU network, essential for industries like gaming, artificial intelligence, and mobile services. As the global demand for GPU computing power continues to grow, the potential value of CDG credits increases, providing additional long-term value. About CDG and Codego The CDG project was developed by Codego , a fintech leader providing secure, comprehensive digital banking solutions. Codego offers core banking, prepaid and debit card issuance, and European IBAN accounts, supporting more than 12 fiat currencies and over 500 cryptocurrencies . Thanks to Codego’s advanced financial infrastructure, users enjoy a seamless experience in managing their CDG devices through the CodegoPay app, which includes integrated IBAN accounts, secure real-time earnings tracking, and compliance with the PSD2 regulatory standards. Learn more about Codego and the CDG project: Codego (Website) | CDG (Website) | X (Twitter) | Instagram | LinkedIn | TikTok Discover how CDG transforms passive income generation—simple, efficient, and rewarding from day one.

BTCC Exchange Enhances VIP Program to Empower High-Volume Traders Worldwide

By Press Release • March 25, 2025
BTCC , one of the world’s longest-serving cryptocurrency exchanges, is thrilled to announce a significant revamp of its VIP program, specifically designed to cater to high-volume traders among its 6.8 million users globally. This initiative highlights BTCC’s continued commitment to delivering an exceptional trading experience through increased efficiency, exclusive rewards, and personalized support.  Founded in 2011, BTCC has been a trusted name in crypto, offering reliable and user-friendly trading services across the globe. The newly enhanced VIP program ushers in a new era of perks, prestige, and personalization for elite traders seeking more than just competitive fees. The revamped VIP program introduces several exciting features: Competitive Trading Fees : VIP futures trading fees have been reduced to an industry-leading rate of as low as 0.007%. Enhanced Liquidity : SVIP users can now withdraw up to 2,500,000 USDT daily, catering to the demands of high-volume traders. Generous Upgrade Rewards : Each upgrade in VIP levels unlocks rewards worth up to 2,500 USDT, including trading vouchers and exclusive merchandise. 24/7 Personalized Support: VIPs enjoy round-the-clock access to dedicated account managers for tailored trading assistance. Community Prestige: Users receive a custom VIP badge that reflects their status within the BTCC community. Luxury Experiences : SVIP users will be randomly selected to win premium vacation packages to destinations like the Maldives and Bali. VIP Status Protection : SVIP users benefit from a grace period that prevents immediate downgrades, even during periods of reduced trading activity. "We’re incredibly excited to launch this revamped VIP program, which truly puts our users at the heart of everything we do,” expressed Alex, Head of Operations at BTCC. “This revamped program is all about empowering high-volume traders. With tailored services, competitive fees, and exclusive rewards, we are dedicated to providing the tools and support that our most active users need to thrive in the fast-paced crypto market.” BTCC’s enhanced VIP offering isn’t just a loyalty program, it’s a reflection of the platform’s ongoing mission to create a secure, rewarding, and dynamic trading environment for users around the globe. About BTCC Founded in 2011, BTCC is a leading global cryptocurrency exchange with the vision to make crypto trading reliable and accessible to everyone. With a strong presence in over 100 countries and regions and a user base of over 6.8 million, BTCC continues to deliver innovation, security, and unmatched user experience in the cryptocurrency world. Official website: https://www.btcc.com/en-US X: https://x.com/BTCCexchange Contact: press@btcc.com

FYBN Token Kickstarts the Future of Gas Station Financing with Impressive Growth

By Press Release • March 25, 2025
FYBN Token , a Solana-based cryptocurrency, announced a 395% increase over the past 30 days. Despite the adverse market trends, FYBN reached $0.0031 , showcasing an increasing popularity across the broader crypto community. The FYBN Token aims to revolutionize real estate and gas station crypto payments. You can buy FYBNAPP tokens on Coinbase Wallet or Phantom Wallet.  FYBN is a token built on the Solana blockchain. It caters primarily to gas station businesses, providing them with a more efficient, cost-effective, and globally accessible source of liquidity. These businesses can leverage FYBN for property acquisition and operational funding, thus accessing new ways to grow and prosper. A recent FYBN use case example is the first-ever gas station purchase using cryptocurrency. The $500,000 Atlanta transaction, which saved over $30,000 in commissions, settled instantly and without hefty fees. More importantly, it showed that such transactions can occur via blockchain technology, thus eliminating traditional banking delays. The FYBN Token comes with a comprehensive suite of utilities and benefits for real-world businesses. For example, using FYBN helps investors streamline gas station and real estate purchases. It also saves them costs by eliminating broker fees. Moreover, FYBN harnesses the power of the Solana blockchain and smart contracts to reduce the legal costs generally involved with such transactions. FYBN Token also ensures nearly instant transactions, with settlements occurring within minutes. Lastly, gas stations using FYBN can reduce credit card fees and attract tech-savvy customers. All these benefits help reshape gas stations' financial landscape, enabling them to thrive in an increasingly competitive environment. With the acceptance of the FYBN token in the gas station and Cstore community the price is expected to rise and technical indicators suggest that price would cross $1 by end of this year. That would make About FYBN Token FYBN is a rapidly developing enterprise, with over $817 million in executed deals and 300+ gas stations sold in the last 6 years. The project aims to redefine business operations by merging blockchain innovations with real-world applications. Behind the FYBN token is an expert team with diverse backgrounds in technology, finance, and social impact. Its goal is to push the boundaries in business and transform the world with the power of blockchain. Besides helping gas station businesses reinvent themselves, FYBN empowers charitable donations with traceable transactions. This way, it gives back by making philanthropy transparent and efficient. You can learn more about FYBN Token at these links: Website | (X) Twitter | Telegram | LinkedIn | Coinbase You can email FYBN at support@fybn.app or call them at +1 (408) 856-5031.
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