Rainbow Wallet Review: Colorful Offer of Features for Blockchain Users

Keeping digital wealth in one safe place is probably the biggest concern of countless crypto investors and traders. While there’s a wide variety of offers on the market, each has its advantages and downsides when it comes to safety, fees and quick access.

If you need fun, as well as a safe and comprehensive way to keep track of your assets, read our Rainbow Wallet review and see if you like this solution.

Who Owns Rainbow Wallet Brand?

Rainbow Wallet crypto managing software is a hot wallet that provides multiple features related to swapping, sending and storing digital assets. It was launched in 2019, by a company called Rainbow Studio, Inc. This blockchain technology solution for Ethereum-based assets was developed by Christian Baroni (CEO), Jin Chung (CTO) and Michael Demarais.

The firm is registered in the New York state, US, as a domestic business corporation. As proof of legal incorporation, the conduct can indeed be found in the New York State Division of Corporations:

Transparency with corporate information is of crucial value for building trust. That is especially evident in the case of financial services providers, such as Windsor Brokers.

Pros & Cons

Considering the overall performance of the wallet, the majority of users of the App Store product have rated the app with 4.5 on average. General rating is somewhat similar on Google Play, where out of the 72.5K Rainbow Wallet reviews, average score is 4.3 stars. This brings valuable insight into how users feel about the app which we’ve also discussed in the Bitfi review, as well. 

However, some users do report about the fees being too high. The company’s replies have stated that they may vary depending on the gas fees from network overuse. 

The Rainbow Wallet desktop feature is discussed differently on Reddit and ProductHunt, with some clients not being satisfied with the safety, app speed, and its tendency to crash.

Rainbow Wallet Features

As an open-source, self-custodial crypto wallet for Ethereum blockchain, the Rainbow Wallet app is both available as an extension for your browsers, as well as a stand-alone mobile app. The website has a separate page which links all download options supported by various internet browsers and both mobile operating systems.

After setting up the software, you can easily register your unique Rainbow Wallet login:

Whether you install the Rainbow Wallet Android or iOS app, you can first choose to preview your wallet and assets stored there, copy the address or preview your other products, such as NFTs:

Following that, users always have the option to open multiple storages and seamlessly switch between them:

A simple swap function allows you to quickly search through the available assets and choose which token you wish to receive. To help users search more efficiently, filters can be used to narrow the results: 

Sending crypto tokens to various other destinations is also an option. Clients can choose to transfer assets to their own wallets, to their contacts, or to any wallet from their watchlist. All that’s needed is to enter a name, wallet address, or ENS to look up the right location:

Lastly, the wallets page offers the option to search for other wallets, include them on the user’s watchlist, create more of one’s own wallets, or add from a hardware wallet. The list can be easily arranged to the client’s preferences by simply dragging and dropping the wallets shown:  

Relatively simple to navigate through the options and coin lists, this software surely makes crypto transfers a bit easier. However, due to some user complaints, we’d still advise caution. 

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