Rainbow browser wallet: what it does and how it works

Rainbow is a self-custody wallet for Ethereum and the networks built around it. It started on mobile in 2019 and added a browser extension later. It is known for a friendly design and good NFT features.

Who makes it

Rainbow Studio, a US company. Its code is published on GitHub, so anyone can inspect it.

What you can do with it

Hold and send tokens. Rainbow supports Ethereum and Ethereum-style networks, including Polygon, Arbitrum, Optimism, Base, BNB Chain, Avalanche, Zora and Blast. You can add any other Ethereum-compatible network yourself.

Swap and bridge. Built-in swaps and bridging route through decentralised exchanges and include protection against front-running, where bots trade ahead of you to profit from your order. ethereum.org lists a 0.85% fee on swaps.

Collect NFTs. Rainbow shows NFTs across networks with market data. Lesson 51 explains what an NFT is.

Use names instead of addresses. It supports ENS names such as alice.eth, which are easier to check than a long address. Lesson 22 explains addresses.

Watch any wallet. Rainbow's "impersonation" mode lets you view any address read-only, which is useful for checking a wallet you have not imported.

Use a hardware wallet. Rainbow works with Ledger and Trezor devices.

Track tokens. It shows price charts and token details, such as supply, as in the screenshots below.

What it is less good at

Rainbow covers only Ethereum-style networks, so Bitcoin and Solana holders need another wallet. Its 0.85% swap fee is in the same range as MetaMask and Phantom, higher than some specialist apps.

Is it safe?

Rainbow is self-custody, and its public code is a plus. As with every browser wallet, the main risks are malicious approvals and fake extensions (Lesson 37). Install it only through rainbow.me.

Who it suits

Ethereum users who want a polished wallet with strong NFT and name support, and anyone who values open code. Not for Bitcoin or Solana.

Setting it up safely

1. Install from the source. Go to rainbow.me yourself, by typing the address, and follow its link to your browser's extension store. Do not use search ads or links from messages. On the store page, check the publisher name and the number of users.
2. Write the seed phrase on paper. Rainbow shows it once when you create a wallet. Write every word in order and keep it offline. Lesson 30 shows how, and our free backup card helps.
3. Never type the phrase anywhere else. No genuine site, support agent or app update will ask for it.
4. Start small. Send a small amount first and check it arrives before moving more.
5. Review connections. From time to time, remove app connections and token approvals you no longer use.

How it compares

Compared with MetaMask, Rainbow has a similar swap fee (0.85% against 0.875%), stronger NFT and name features and fully public code, but no Solana or Bitcoin. Compared with Rabby, it is friendlier for beginners, while Rabby goes further on transaction checks and charges less. See the MetaMask and Rabby guides.