Cake Pay vs Gnosis Pay
How does Cake Pay compare to Gnosis Pay? A side-by-side look at fees, rewards, custody and availability.
Higher score: Gnosis Pay · provisional, see how we rate
| Feature | Cake Pay | Gnosis Pay |
|---|---|---|
| Our score | 7.1/10 | 8.4/10 |
| Type | Prepaid | Debit |
| Networks | Visa, Mastercard (per cakepay.com) | Visa |
| Rewards | — | Up to 5% cashback on eligible transactions, based on the amount of GNO held in wallet |
| Annual fee | None (products sold at face value) | — |
| FX fee | — | — |
| ATM fee | — | — |
| KYC | None | Full |
| Custody | Self-custodial | Self-custodial |
| Supported coins | Bitcoin (on-chain/Lightning), Litecoin (on-chain/MWEB), Monero, Zcash | USDC, EURC (stablecoins) |
| Availability | Most countries supported (merchant catalog varies by selected country) | UK, EU (expanding) |
| Apple / Google Pay | — | Yes |
When choosing between Cake Pay and Gnosis Pay, your decision will largely depend on your priorities regarding privacy, supported cryptocurrencies, and geographic availability. Both cards offer unique features that cater to different user needs. Below, we break down which card might be the better fit for you based on key factors.
Choose Cake Pay if…
- You prioritize privacy: Cake Pay does not require KYC (Know Your Customer) verification, making it an excellent choice for users who value anonymity and privacy in their financial transactions.
- You want a wide range of cryptocurrency support: Cake Pay supports a variety of cryptocurrencies including Bitcoin (on-chain/Lightning), Litecoin (on-chain/MWEB), Monero, and Zcash. This makes it ideal for users who hold and transact with these coins.
- You prefer a self-custodial solution: With Cake Pay, you maintain control over your funds as it is a self-custodial card. This means you are responsible for the security of your assets, but you also have full control over them.
- You are looking for a prepaid card option: Cake Pay is a prepaid card, which can be a more flexible option for some users as it does not require a linked bank account.
- You are based outside the UK and EU: Cake Pay is available in most countries, although the merchant catalog may vary depending on your location.
Choose Gnosis Pay if…
- You are based in the UK or EU: Gnosis Pay is currently available in the UK and EU, with plans for expansion, making it a suitable choice for residents of these regions.
- You are interested in earning cashback: Gnosis Pay offers up to 5% cashback on eligible transactions, based on the amount of GNO held in your wallet. This can be a significant benefit for frequent users.
- You use stablecoins: Gnosis Pay supports USDC and EURC (stablecoins), which can be advantageous for users who prefer the stability of these cryptocurrencies.
- You prefer a debit card: As a debit card, Gnosis Pay allows you to spend directly from your wallet, which can be more convenient for some users.
- You are comfortable with full KYC: Gnosis Pay requires full KYC verification, which may be a deterrent for users who prioritize privacy but is standard for many financial products.
- You want wallet pay functionality: Gnosis Pay offers wallet pay, allowing for seamless integration with your digital wallet.
Bottom line
Ultimately, the choice between Cake Pay and Gnosis Pay hinges on your specific needs and circumstances. If privacy and a wide range of cryptocurrency support are your top priorities, Cake Pay is likely the better option. However, if you are based in the UK or EU and are interested in earning cashback and using stablecoins, Gnosis Pay might be more suitable. For more detailed insights on how we rate these features, visit our how we rate page.