Bitcoin

Official Website: bitcoin.org

Bitcoin (BTC) is the first cryptocurrency, created in 2009, functioning on a decentralized network where transactions are recorded on a blockchain. It aims to enable secure, transparent, and intermediary-free digital payments.

There's a cap set at 21 million bitcoins that will ever be created, which introduces a scarcity factor similar to gold. Bitcoin has since become a popular investment asset, a speculative bubble to critics, and a symbol of financial freedom to its advocates, aiming to provide an alternative to conventional banking systems.

Seed Types

New Bitcoin wallets use the industry-standard 12-word BIP39 seed by default. You can choose the Electrum seed type instead under Advanced Settings on the wallet creation screen. You can also restore legacy Electrum-style seed phrases if you need to.

While the seed type is BIP39, the same Advanced Settings screen also offers a Seed phrase length choice of 12 (default) or 24 words. Switching to an Electrum seed hides that option.

Derivation Paths

Electrum: m/0'

BIP39: m/84'/0'/0'

Addresses

We automatically generate a new Bitcoin address after each use for better privacy. Previous addresses continue to work.

The receive sheet shows these address types:

• Standard — the default Default (P2WPKH) address, starting with bc1q.

• Lightning — instant, low-fee payments. See below.

• Silent Payments — a static, reusable address starting with sp1. See below.

Tap More Options in the address picker for Taproot (P2TR), Segwit (P2WSH), Segwit-Compatible (P2SH), and Legacy (P2PKH).

To switch types, open the Receive screen and tap the current address type at the top of the screen.

See Receive funds to choose your address type.

Bitcoin fee levels

When you send, you can choose a fee priority. We recommend leaving it at Medium, which is the default.

Choose Custom to enter an exact sat/byte rate. Bitcoin is the only coin in Cake Wallet with a Custom fee option.

RBF (Replace-By-Fee)

The Bitcoin wallet supports RBF (Replace-by-Fee), which lets you raise the fee after you've already sent a transaction.

RBF is enabled on most transactions, but not all:

• If a transaction spends any unconfirmed inputs, RBF is not enabled on it and its fee cannot be bumped.

• Bump fee is offered only for outgoing transactions.

• Bump fee is also hidden when the transaction was sent to a Silent Payments (sp1) address.

• Bump fee is Bitcoin-only. Litecoin, Bitcoin Cash and Dogecoin share the same wallet engine but do not offer it.

To bump a fee, open the History tab on your home screen, tap the transaction to open its details, then tap Bump fee. Set your new fee and tap Send.

See Change network fee for the Bump fee steps.

Lightning

Lightning gives you instant, low-fee Bitcoin payments and a memorable @cake.cash address. It's enabled by default for new Bitcoin wallets created from a seed, so you can send and receive over Lightning right away.

Two limits apply:

• Lightning is available on iOS, Android and macOS only — Linux and Windows desktop Bitcoin wallets have no Lightning.

• Lightning is turned off for hardware wallets and for wallets restored from keys or watch-only keys.

Learn more on the Lightning page.

Silent Payments

Silent Payments (BIP-352) give you a single, reusable sp1 address that you can share publicly without linking your payments on-chain. The wallet scans on-device to find payments sent to you, protecting your privacy. Learn how to enable and use it on the Silent Payments page.

PayJoin

PayJoin lets you and the sender collaborate on a single transaction with inputs from both parties, breaking common surveillance heuristics and sometimes saving on fees. Both parties need a PayJoin-compatible wallet. PayJoin is off by default — you need to turn it on before you can use it. Learn how to enable and use it on the PayJoin page.

Features for Bitcoin

Cake Wallet's Bitcoin wallet supports a range of Bitcoin-specific features, each with its own guide:

• Bitcoin Lightning — send and receive Bitcoin instantly with very low fees over the Lightning Network.

• Silent Payments — a reusable address that keeps your incoming payments unlinkable on-chain.

• Payjoin — collaborative transactions that improve your on-chain privacy.

• Coin control — choose exactly which coins (UTXOs) you spend.