In a world where Web3 and decentralized finance (DeFi) are developing at a faster rate than before, wallets have become the key bridge between customers and the blockchain. One such wallet is Rainbow Wallet. The wallet is known for its only functionality and approach towards creativity. The wallet is known for its friendly interface and appealing design.
Rainbow is unlike many of the cryptocurrency wallets that bombard the user with technical terminology and outdated user experience. Rainbow is different as it provides simplicity and complete integration with Web3.
In 2025, Rainbow will keep on advancing as an unmatchable Ethereum wallet app.
What is Rainbow Wallet?
Rainbow Wallet is a non-custodial Ethereum wallet, which was designed to make working with cryptocurrency and Web3 a secure experience.
The wallet was developed by a team of passionate crypto fans and designers. As opposed to traditional wallets, Rainbow has a full Web3 experience that is capable of holding cryptocurrencies.
Supported networks and assets
As of 2025, Rainbow supports a total of 16 networks as demonstrated below:
Rainbow users are able to easily switch networks in the application or browser extension, without the need for complex configuration.
The interoperability of Rainbow with Layer 2 networks and the NFTs will make it future-proof in the Ethereum ecosystem.
Blockchain conditions vary over time, which may affect the network fees and transaction speeds.
Features of Rainbow Wallet
Rainbow is a visual ethereum manager that has tools to help manage your Ethereum portfolio.
Users have reported positive reviews about Rainbow Wallet. Here is a user’s review on X.
I tested out the The Rainbow Wallet crypto application and noted the following features:
1. Token swaps and DEX integration
The app allows users to trade tokens by connecting to other decentralized exchanges. I was not required to leave the wallet or transfer the addresses of the contracts because everything was performed on-chain.
2. NFT display and collection management
Another characteristic of Rainbow is the NFT gallery. Digital collectibles are displayed and managed inside the wallet. I observed that each NFT was represented in high resolution, including information about the artist and collection. This is ideal for people who need to enjoy their assets instead of storing them.
3. Portfolio tracking
Rainbow offers real-time monitoring of tokens and NFTs. I could see market values, gas prices and historical charts, which gave me an overview of my portfolio’s performance.
4. dApp browser and Web3 connectivity
The wallet allows connection to decentralized apps through WalletConnect and Rainbow Extension for browsers. Through the app, I could interact with marketplaces such as OpenSea, and DeFi like Aave or Compound in one click.
Interactions with the app carry risks, so you are advised to verify the legitimacy of platforms before you connect your wallet.
User interface and experience
Rainbow’s main attribute is its design philosophy. As opposed to other crypto wallets that feel technical and cluttered, Rainbow puts a significant emphasis on visual simplicity and clarity. Users are greeted with iconic user-friendly features and clear navigation.
The wallet’s mobile experience is available on both iOS or Android, and new users will find it easy to use. The browser extension provides the same experience, which is convenient to desktop users as they can explore dApps on bigger screens.
Rainbow also has custom themes, dark mode offer, and cartoon images, which make transactions more seamless.
The design is a balance between the aesthetics and functionality. This is especially useful to DeFi users, who work with various Layer-2 solutions.
Security and privacy
As a non-custodial wallet, Rainbow gives users the option to control their assets and private keys. As a result, developers cannot get access to the funds as only the user has the cryptographic keys.
To keep it convenient, users can save their wallet either in iCloud (iOS) or Google Drive (Android) which is end-to-end encrypted.
Seed phrase and recovery
During the Rainbow setup process, users are assigned a 12-word recovery phrase, which is the only way of re-acquiring access in case the wallet is lost or deleted. Rainbow also promotes offline backups, though it has the option of hardware-wallet integration so that people can have the same added security.
Privacy considerations
Rainbow doesn’t track user activity. Users can enhance their anonymity by checking their online behavior.
Potential risks
The main threats are associated with user mistakes, including clicking, phishing links, or sharing recovery phrases.
How to set up Rainbow Wallet
Here’s how to get started:
- Download the app or extension. Download from rainbow.me, the App Store, Google Play, or Chrome Web Store. Rainbow doesn’t have access to your wallet.
- Create your wallet. Tap “Create Wallet.” Once you receive the 12-word recovery phrase, make sure you keep it safe.
- Back it up. You can save it to the Cloud or write it down and store it somewhere safe.
- Add money. Add money by buying ETH directly in the app or transferring it from another wallet.
Once you acquire ETH on an exchange, you can send it to another wallet by copying your wallet’s public address.
There’s also the option of receiving Ethereum from a friend.
Tap on the “My QR Code” button on the upper right hand corner on your screen. Have your friend scan the QR code, or tap the “Share” button to send it via a message.
Point to note: Rainbow only supports ETH and Ethereum-based assets. Do not send other types of cryptocurrencies or assets to your wallet.
- Start exploring. Connect to your favorite dApps and NFTs using WalletConnect or the Rainbow browser extension.
Setup takes less than five minutes, and no personal data is required. Always download Rainbow Wallet from the official site or verified app stores to avoid counterfeit versions.
Rainbow vs other wallets
I tested Rainbow and other wallets and here is a summary of my findings:
Rainbow vs MetaMask
MetaMask has a wider range of customization and compatibility, which explains why it has caught on with developers and DeFi veterans. Rainbow, on the other hand, offers a colourful, user-friendly, and up-to-date interface, without losing its Web3 power. As a result, it makes it easier to use.
Verdict: MetaMask is ideal for coders while Rainbow is for creators, collectors and ordinary users. Nonetheless, user preference may depend on their goals and specific DeFi needs.
Rainbow vs Trust Wallet
Trust Wallet allows several blockchains, which may make its interface feel crowded. Rainbow focuses on Ethereum and its Layer 2s, which provides it with a cleaner and more elegant experience. Its NFT gallery and aesthetics are superior compared to that of Trust Wallet.
Verdict: While Trust Wallet is the best at multi-chain access, Rainbow wins in terms of the Ethereum experience and user design.
Rainbow vs Coinbase Wallet
Coinbase Wallet integrates with the Coinbase Exchange. While it provides enhanced security, it does not have the innovative and open-source culture of Rainbow.
Verdict: Rainbow offers true decentralisation and a community spirit unattached to corporate branding. It’s a more authentic tool that is ideal for users who want to be more independent and those who seek aesthetics.
Disclaimer: The wallet comparisons do not constitute endorsements. Users should make decisions based on personal security preferences.
Conclusion
With the growth of Web3, wallets are becoming more of a lifestyle app. The wallet offers a seamless experience for users in the DeFi space. Rainbow Wallet is one of the best Ethereum wallets to any person who cherishes simplicity, style, and security.
You should consider the Rainbow Wallet if you want a human, artistic and powerful wallet.
Anastasiia G
Disclaimer: Always perform your own research before downloading or transacting with any crypto wallet or platform. All materials on this site are for informational purposes only. None of the material should be interpreted as investment advice. Please note that despite the nature of much of the material created and hosted on this website, HODL FM is not a financial reference resource, and the opinions of authors and other contributors are their own and should not be taken as financial advice. If you require advice. HODL FM strongly recommends contacting a qualified industry professional.
