AMA with LetsExchange and Cake Wallet

Dive into upcoming features like Silent Payments, Monero integration, and how Cake Wallet prioritizes user privacy over all else. Discover more about how this wallet stands out in a crowded field and what’s in store for its multi-currency support from the exclusive AMA on Twitter Spaces with Seth, VP of Operations, and Omar, Senior Mobile Engineer at Cake Wallet.

John from LetsExchange: With Cake Wallet’s support for Monero and Bitcoin, what key privacy advancements can users expect in upcoming updates, particularly with technologies like Silent Payments or Payjoin?

Seth: We’re always focused on enhancing privacy. For now, we’re closely watching innovations like Silent Payments and Payjoin. We aim to integrate these advancements when they are proven to improve user privacy without complicating the user experience. We want to make privacy as seamless as possible.

John from LetsExchange: How does Cake Wallet differentiate itself from other non-custodial wallets like Exodus or Trust Wallet, especially in terms of privacy and user control over funds?

Seth: The key difference with Cake Wallet is our unwavering focus on privacy. Unlike some other wallets, we’ve integrated Monero from the start and prioritized user privacy in all supported coins. Everything we do is geared toward giving users control over their funds without compromising privacy.

John from LetsExchange: Can you explain how Cake Wallet integrates with the Lightning Network and what steps you’re taking to ensure privacy while using Lightning?

Seth: Lightning Network integration is still a work in progress for us, but one thing we’re focused on is ensuring that user privacy is protected even when transactions are off-chain. We're exploring methods that will allow users to benefit from Lightning's speed while keeping their identities private.

John from LetsExchange: As Cake Wallet supports multiple cryptocurrencies, are there any new integrations planned?

Seth: Yes, we have plans for new integrations. We’re always on the lookout for privacy-focused projects, but also other popular coins that users want. We’re working on adding Litecoin and other coins, while still enhancing privacy features for existing assets.

John from LetsExchange: What future updates or features are planned for your desktop version, and how will they enhance the multi-currency and privacy functionalities available to users?

Seth: We’re working on bringing more multi-currency support to the desktop version. Right now, it’s very focused on Monero, but we’re planning to add more assets like Bitcoin and Ethereum, with the same level of privacy features users expect. This will enhance the overall experience, especially for users managing multiple coins.

Lydia (community question): We see the NFT markets slowing down. Can you tell a bit about NFT integrations? And what are the future plans for Cake Wallet?

Seth: We currently support NFTs on Ethereum wallets, allowing users to manage and view their NFTs within the app through the NFT tab. While Solana NFT support isn't available yet, it's something we're considering for the future. NFTs are not the core focus of Cake Wallet, but we want to offer users the ability to manage them all in one place without needing a different wallet.

John from LetsExchange: How does LetsExchange ensure the security of user funds and personal information?

Nadine: LetsExchange doesn’t store your funds, and your own wallet secures them. All swaps are performed automatically. The platform doesn’t require any personal or financial information; thus, no information leaks are possible.

These are just the main highlights of the AMA session. To learn more about Cake Wallet, listen to the full AMA.