Cake Pay/Wallet Quetsions

I watched Techlore’s video about Cake Pay and its user-friendly nature, making me interested in using Cake Pay for personal purchases. Though, I have questions about Cake Pay and Wallet.

  1. Can you purchase VISA gift cards on Cake Pay?
  2. What payment options does Cake Wallet support to obtain Monero? Like card, cash, something else?
  3. How does using Cake Pay compare to using a crypto debit card like Crypto.com?
  1. Doesn’t look like it unfortunately. (I wish!)
  2. Just cryptocurrency within the app, BTC/LTC/XMR - but you can use a card to purchase each of those, and/or acquire them via more private channels (localMonero) - then send it to your CW where you then use those funds to buy the GCs.
  3. The crypto card seems to be an actual card you use to replace your VISA card. The selling point of Cake Pay is you’re acquiring a private gift card for each individual merchant. There is no central payment method to cross-reference between all the stores you shop at, effectively making this a very private (and convenient) option for people. The crypto.com card has a different use-case here.

Hi Henry, thanks for your reply!

Continuing from your third answer, it appears the difference between Cake Pay vs a crypto debit card like crypto.com or Nexo or Coinbase is the latter is more akin to a credit or debit card straight from the bank. This makes an option for using crypto a bit over the top for just making private purchases. Not to mention it is possible the cards fail.

However, Cake Pay involves utilizing Monero to purchase gift cards, which are seamlessly usable in supported merchants. Not only is the risk of the cards failing much more unlikely, but it isn’t like a centralized bank. I could see Cake Pay being something really useful for unbanked communities.

Is the main advantage over Bitrefill being able to use Monero? I like that a lot but I am curious if I am missing other good things about it.

And from what I understand, you can not use cake pay outside of the US. You can with Bitrefill.

The two main selling points are yes, Monero support - but also integration directly in the same mobile app with your wallets. For me for example, it’s all auto-integrated with my Monero wallet.

But Bitrefill seems like another great solution. And I know there is CoinCards as well - both accomplish similar things but they’ll each have pros/cons

Yes! With bitrefill it was

  1. swap a bit of XMR for BTC
  2. send BTC to my bitrefill account
  3. buy gift cards

so this is a big plus as first 2 steps removed.

If using Monero is to maintain anonymity, then wont using CakePay with email and purchase history pretty much destroy any anonymity?

You should read the PP and assess yourself if it jeaporidzes your threat model in any way. Yes, there’s a layer of trust. But that’s the (for me) small cost of actually USING the Monero you acquire. SimpleLogin alias worked perfectly on my end :+1: