A baked cheesecake has a heavier and denser texture and a fuller taste, while a no-bake cake is light and airy. The baked version has a batter made with eggs, which is what keeps it all together. A no-bake cheesecake is held together by gelatin. Its other ingredients are usually whipped cream and sugar. Of course, a no-bake cheesecake is refrigerated while the other is baked in an oven.