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Rainbow Wallet Review: Colorful Offer of Features for Blockchain Users

Rainbow Wallet Review

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.

General information
Name Rainbow Wallet
Type of the company Crypto wallet
Regulation status Regulation not expected
Warnings from Financial Regulators No official warnings
Website link
Active since 2018
Registered in US
Contact info 201 N. 8th St. Brooklyn, NY 11211

[email protected]

Trading platforms Proprietary wallet
Majority of clients are from United States, India, United Kingdom, Germany
Customer support Yes – email
Compensation fund No

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:

Rainbow Wallet Info

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.

Pros Cons
Natively integrated DeFi protocols and Rainbow Wallet NFT marketplaces Reported to misdisplay assets
Allows unlimited number of wallets to be opened Users complain of the app crashing
Free to use Fees can be high depending on the network
Compatible with majority of wallets, browsers and both mobile platforms May be slow and lagging behind real time user actions
Comprehensive interface is easy to navigate Prices of some coins update slower

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:

Rainbow Wallet extension for browserRainbow Wallet mobile app

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:

Multiple storages in Rainbow Wallet app

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: 

Filters in Rainbow Wallet app

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:

Transfer assets in Rainbow Wallet app

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:  

Search for other wallets in Rainbow Wallet app

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. 


What is Rainbow Wallet?

Rainbow Wallet is a blockchain solution for storing, swapping, and sending Ethereum-based coins.

Is Rainbow a Safe Wallet?

Despite the implemented safety precautions, some users have expressed their concerns with the safety.

What Is Rainbow Wallet Used For?

The app is used as an Ethereum wallet for collecting NFTs and exploring the world of Web3. If you’re looking for trading opportunities, perhaps you could take a look at our funded trading program!

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