Blog Post

Cake Wallet – The All in One Monero Wallet

Sudarshan M • Jan 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.  

Elevault's $ELVT Token Public Sale Ending Soon, Launch Set for May 15

By Press Release • 13 May, 2024
Elevault Coin is excited to announce that its public sale is active and will be concluding shortly, following a robust and successful presale period. The official launch of this unique token is set for May 15, offering a remarkable opportunity for traders and holders.  This first-of-its-kind token boasts a blend of proven and innovative tokenomics, providing unlimited opportunity and security for a strong and dynamic community that has rallied impressively so far. Elevault Coin's overarching aim is to foster an intentionally designed, exhilarating, and rewarding token ecosystem that will endure through time. Elevault's Public Sale As the enthusiasm for Elevault Coin continues to grow post-presale, investors are still able to engage in this exceptional opportunity as the public sale draws to a close. The project emphasizes inclusivity, offering multiple sales and airdrop events which have already created vibrant community involvement, allowing enthusiasts to actively shape the currency's path forward. Elevault Coin differentiates itself with its innovative approach, having introduced a money-back guarantee during the presale to allow low-risk participation, a feature continuing through the end of the public sale. This public sale is not just an investment; it's a gateway into the future of the project. The Project's Offer for the Web3 Community Exciting features await the Web3 community with Elevault Coin. The project has implemented reflection mechanics to ensure fair distribution of sale fees among all holders and stakeholders. This foundation guarantees that every community member benefits from these fees, independent of their token holdings. Additionally, Elevault Coin incorporates a recurring lottery system where entries can be obtained through trading and token locking, enhancing the coin's appeal for long-term holding. Moreover, the project introduces an NFT "trade license" system that reduces sales fees for traders and opens up further investment opportunities. Designed with deflationary tokenomics, Elevault Coin aims to maintain its value stable with positive price pressure over time. The project also rewards liquidity providers with a designated share of reflections, bolstering its economic framework. Finally, post-launch, Elevault Coin will enhance community control through on-chain governance, building on the input gathered pre-launch and ensuring security and inclusivity through interim controls. This empowers the community to make critical decisions affecting the project's trajectory. About Elevault Coin Elevault Coin is poised to make a significant impact in the cryptocurrency investment world. By rewarding both trading and holding, it redefines the once-static investment landscape. With its unique and thoughtfully designed tokenomics, the coin nurtures a dynamic community, propelling an investment journey not to be missed. With a strong presale and public sale already under its belt, Elevault Coin invites everyone to join its vision of revolutionizing the crypto investment space. For more details, visit the Elevault Coin website and follow its social media channels ( X , Telegram ) to stay updated and participate in the exciting events leading up to the launch on May 15.

Marine Moguls ERC-404 Launches in 11 Days With ~2.9 Million USDT Prizes

By Press Release • 13 May, 2024
In just 11 days, blockchain will witness a revolutionary shift with the Marine Moguls ERC-404 token and NFT launch on May 25, 2024. This isn't just any token and NFT launch; it's a pioneering venture utilizing the fresh ERC-404 protocol, which combines token fungibility with NFT uniqueness. Every NFT has instant liquidity, and every token has fractional NFT ownership, making buying and trading faster and more flexible.  10,000 Tokens and ~2.9 Million USDT in Prizes The collection features 10,000 randomly generated AI marine creature NFTs that can evolve through crafting and merging. As they evolve, they become rarer and more valuable, unlocking lucrative prizes attached to over 25% of the NFT collection, like 100,000 USDT or 50,000 $METFI - 2,588 of the NFTs have prizes. Exclusive Access to MetBot Beta Stake just one $MOGUL token to enjoy generous APY and early and exclusive access to MetBot. This state-of-the-art AI trading bot is a game-changer in crypto trading. Last week, 100% of closed trades were in profit, with an 8% return the week before and an 80% return in two months. MetBot consistently delivers advanced, transparent, automated trading while your funds remain under your full control with instant withdrawals at any time. Token Distribution The distribution of 10,000 Marine Moguls tokens ensures that anyone can get a piece of the Marine Mogul pie: - Airdrop: 3,000 tokens (30%) for the airdrop campaign closing on 24th May 2024, - Whitelist: 3,000 (30%) to MetFi NFT owners, - Staking: 3,900 (39%) for generous APY disbursements, - Liquidity: 100 (1%) for liquidity. Airdrop Campaign Final Call Visit the Marine Moguls website to join the Airdrop campaign before May 24th, 2024, to claim your free $MOGUL tokens and fractional ownership of the Marine Moguls NFT collection. Join the Marine Moguls Revolution We invite you to participate in the groundbreaking Token Generation Event (TGE) on May 25th, 2024. The Marine Moguls ERC-404 collection will make a fun and powerful statement about the future of finance and an opportunity to be at the forefront of blockchain innovation. To secure your place in this transformative airdrop and launch, visit the Marine Moguls website. Don't miss this unique opportunity to dive into a world where crypto meets creativity, utility, and lucrative rewards. Join us, and let's navigate the exciting waters of the future together with Marine Moguls! About Marine Moguls and MetBot by MetFi Marine Moguls and MetBot, powered by MetFi DAO, redefine AI and digital asset integration using the pioneering ERC-404 protocol. This initiative sets a new standard for blockchain utility, merging token fungibility with the unique traits of NFTs for instant 24/7 NFT liquidity and fractional NFT ownership, broadening access and appeal. Alongside, MetBot dramatically enhances the ecosystem's value. As a cutting-edge AI trading bot, MetBot provides Marine Mogul token holders exclusive access to high-frequency trading that has delivered substantial, transparent returns. This AI bot boasts advanced intelligence and adaptive strategies, maximizing profitability while giving users control over their funds every step of the way. Marine Moguls and MetBot embody MetFi's vision of innovation, decentralization, and a valuable and rewarding digital future. By joining the Marine Moguls airdrop, community members lead an evolving ERC-404 ecosystem that challenges traditional concepts of value and ownership, delivering tangible benefits and sophisticated trading solutions. Official Links Website: https://marinemoguls.com Telegram Chat: https://t.me/MetFiChat Telegram News: https://t.me/MetfiNews Discord: https://discord.gg/MetFiDAO YouTube: https://www.youtube.com/@MetFiDAO TikTok: https://www.tiktok.com/@Metfidao.Official Certik: https://skynet.certik.com/projects/metfi Medium: https://medium.com/@MetFi_DAO LinkedIn: https://www.linkedin.com/company/MetfiOfficial GitHub: https://github.com/metfi CoinMarketCap: https://coinmarketcap.com/currencies/metfi2 CoinGecko: https://www.coingecko.com/en/coins/metfi Instagram: https://instagram.com/metfidao

Earn Passive Gold with ShadowGold: The DeFi RWA Token Backed by Physical Gold

By Press Release • 13 May, 2024
ShadowFi is set to launch ShadowGold (SDG), the first DeFi token with a liquidity pool 50% backed by physical gold and 50% by MATIC. This unique composition offers investors stability in volatile markets and sets ShadowGold apart from other DeFi tokens. ShadowGold has already amassed a starting liquidity of approximately $250,000, demonstrating the project's established presence and investor confidence.  ShadowGold is new money for the real world, backed by real gold ShadowGold holders earn passive gold rewards through PAXG reflections on each transaction. The token also grants access to exclusive equity investment opportunities, bridging traditional and decentralized finance. ShadowFi is also developing ShadowPay, the final piece in its ambitious DeFi roadmap, enabling ShadowGold holders to privately spend their gold, making it both an investment vehicle and a practical medium of exchange. Built on the secure, scalable Polygon network, ShadowGold has undergone rigorous auditing by Cyberscope to ensure the highest standards of security and integrity. ShadowFi maintains a strict commitment to user privacy, with no KYC checks, identity verification, or transaction monitoring. The ShadowGold presale kicks off on May 15th at 11PM UTC and will be open for 72 hours. During this time, investors can purchase SDG tokens at reduced prices, beginning at $0.02 and progressively rising to $0.0275 across four stages. Following the presale, ShadowGold will be publicly launched on May 19th, with an initial price set at $0.0357 per token. To participate in the presale or learn more, visit shadowfi.com . About ShadowGold The team behind ShadowGold (SDG) has a proven track record in DeFi since 2021, previously reaching a $45 million market cap and offering the first anonymous debit cards. Now, as ShadowGold, the innovation pivots into Real World Assets (RWA). X (Twitter) | Telegram | Website | YouTube | Whitepaper

Leetah Launches Presale Phase for LEET Tokens Eyeing $5 Million Soft Cap

By Press Release • 09 May, 2024
The Leetah project has officially launched its presale phase for the platform's native token, LEET. The project takes inspiration from the term "Leet" ("elite") and the features of a cheetah in a fun crypto twist. With a 5-phased roadmap, this new meme coin has a serious design that wants to bring value to its community. The ongoing presale phase aims to raise a soft cap of $5 million, a new important milestone for the project.  Leetah's Presale and Engagement Opportunities The project's presale will start at an initial price of $0.0065 for each LEET token. The team plans to leave the presale open until investors buy all allocated tokens. Specifically, with a total supply of 1,337 billion tokens, the presale will allocate 35% of this amount. Another 25% will let the team develop the project through its roadmap. LEET will go live through a decentralized exchange (DEX), for which the team allocated 30% of the token supply. The remaining 20% will cover marketing expenses (10%), airdrops (5%), and affiliates benefits (5%). The project will also feature a "Refer and Earn" program. The initiative will allow participants to earn additional LEET tokens by referring friends and family to the presale. With a 10% reward on their referrals' purchases in USDT, this program incentivizes active promotion and engagement within the community. Multi-Chain Launch Plans Leetah aims to launch on multiple blockchain platforms, including Ethereum, BNB Chain, and Solana. This approach will not only promote accessibility for investors but also set the foundation for potential expansion in the future. The project has already gained traction within select alpha communities with its unique presale strategy and innovative features. Specifically, this project's plans feature five different phases: Phase 1 (or "LeeTah is born") involves launching social channels and the website, followed by the presale phase. Phase 2 ("LeeTah grows") focuses on community building and marketing initiatives while passing a contract audit for security purposes. Phase 3 ("LeeTah roars") will see an increase in marketing efforts and community contests. At this stage, the team also expects to conclude the presale phase. Phase 4 ("LeeTah sprints") will mark the launch of Leetah's NFT collection and its listing on CoinGecko and CoinMarketCap. Finally, Phase 5 ("LeeTah Feeds") will involve the project's listing on major centralized exchanges and the launch of LEET TOOLS. About Leetah Leetah is a project driven by experienced developers to implement and test cutting-edge technologies in blockchain and digital token offerings. The project aims to be a leading name in Web3, pushing boundaries for investors and cryptocurrency enthusiasts worldwide. The ongoing presale phase for its native token, LEET, aims to raise a soft cap of $5 million. Leetah plans to launch on multiple blockchain platforms and has an ambitious roadmap featuring 5 phases of development. With its unique concept and strong team, Leetah wants to leave its mark in the Web3 sector. Anyone curious about Leetah and the LEET token can visit the project's website . The social media pages below frequently share news on Leetah's developments. X (Twitter) | Telegram
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