By Lucas Williams
A crypto wallet is essential when dealing with cryptocurrency, as it will be storing all of your tokens. However, since most of the wallets you can find online are quite bland, they can make the process quite boring. That is where Cake Wallet comes in.
Developed in 2018, Cake Wallet was the first open-source crypto wallet that was also free. The only downside to it was the fact that it did not support other tokens. The only token that this particular wallet supported was the coin monero. However, over the years, this wallet has improved significantly in various ways.
For one, it added support for other cryptocurrencies that were starting to dominate the market. These coins included Bitcoin, Cardano’s ADA, and Litecoin. Furthermore, it also has all of the features that you would come to expect with a wallet, such as a built-in exchange. Cake Wallet also has support for a “flat view,” which is a great addition for all traders.
Of course, as a companion piece to the monero coin, Cake Wallet offers built-in privacy for all of its users. They made an extra effort to ensure that people who use their service are safe. In fact, monero main selling point was that it was a cryptocurrency that had inherent privacy options.
So when they decided to announce that their customers will be able to add customized usernames, people were concerned about their privacy. However, Cake Wallet was quick to ensure everyone that they would not be compromising their security in order to introduce this feature. So despite the fact that you can add your own usernames, your information is 100% private.
The company uses a system of main addresses and stealth addresses to further ensure that its customers are safe. So you can have a static address in your domain, allowing you to make transactions through it. However, this name has no association with the delicate information in your account. The only way that they can access that stealth domain is by using a dedicated private view key. A private view key is like a password that will help you access your real account.
Of course, the main focus here is of choice; more specifically, the ability to choose whether or not to have a username. Some clients would like nothing more than to name their wallets and accounts to make them feel more personal. On the other hand, other clients could not care less what their wallet’s name was as long as it was doing its job right. Therefore, you don’t have to worry about choosing a name, as the system is completely optional. So you can have a personal username or just stick with the default randomly generated username.
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I would really love to have the username of my choice on my crypto wallet. I mean this could be really interesting and fun in real.
The idea of this startup is the evidence that general public is also learning about cryptocurrencies. The idea is great though. I would like to have my crypto wallet customized.
So now customized crypto wallet is a thing now. Interesting. Quite Interesting. Also, the fact that information about addresses is made secure is just outstanding.