Blockchain wallet is one of the necessary products for users to be able to trade cryptocurrencies in the crypto market. Rainbow Wallet became a prominent choice for Ethereum users with a simple and easy-to-use interface. What is Rainbow Wallet? Let’s dive into this article.

Key Takeaways

• Rainbow Wallet is a decentralized (non-custodial) wallet dedicated to the Ethereum ecosystem.
• The main interface of Rainbow Wallet is designed to be intuitive, making it easy for users to track their entire portfolio in the Ethereum ecosystem.
• Rainbow Wallet has a very convenient NFT management feature, with a beautiful gallery interface.

What is Rainbow Wallet?

Rainbow Wallet is a decentralized (non-custodial) wallet dedicated to the Ethereum ecosystem. It allows users to store, send and receive digital assets (ETH and ERC-20 tokens), as well as manage NFTs with ease.

Rainbow Wallet is built on the Ethereum platform, launched in 2019 by three founders: Christian Baroni, Jin Chung and Mike Demarais. Rainbow also supports quick connection to many popular DeFi and NFT platforms in the Ethereum ecosystem.

Specialities of Rainbow Wallet

• Open source: Open source plays an important role in ensuring Rainbow's security. Users can check the source code on Github to verify transparency and create opportunities for the community to evaluate, detect vulnerabilities and suggest improvements. This not only promotes accountability but also prevents risks from hidden backdoors or security vulnerabilities during software use.
• Experienced team: Rainbow's development team is experienced from famous wallets such as MetaMask. Different from other wallets, Rainbow stands out with proactive support, ensuring that any problems or questions from users are resolved quickly and with quality.
• Personal information security: Rainbow puts personal information protection first and adheres to a strict policy of not collecting any personal information from users. Without asking for information like email addresses or names, Rainbow helps minimize the risk of sensitive information being leaked from data theft or unauthorized access.

Key Features Rainbow Wallet

Tracking your portfolio

The main interface of Rainbow Wallet is designed to be intuitive, making it easy for users to track their entire portfolio in the Ethereum ecosystem. All assets – from tokens, liquidity positions (LP) to savings in platforms like Compound – are clearly displayed. In particular, the wallet also supports displaying balances on Layer 2s like Arbitrum, Optimism, helping users control assets on multiple networks in just one screen.

NFT Gallery 

Rainbow Wallet has a very convenient NFT management feature, with a beautiful gallery interface. The application integrates directly with OpenSea, allowing you to view detailed descriptions, characteristics of each NFT and track the current floor price of each collection. Every NFT you own is clearly presented, making it easy for you to manage and show off your digital collection.

DEX Integration

Rainbow has built-in Uniswap, one of the world's leading DEXs, allowing users to make token transactions directly in the wallet without accessing an external platform. This brings convenience and saves significant time for those who frequently swap assets.

Discover Feature

The Discover feature gives users an overview of new trends in the crypto world. You can learn about popular tokens, hot projects, and even create personal watchlists to quickly update market fluctuations.

In addition to the core functions, Rainbow Wallet is also equipped with many advanced features to optimize the user experience:

• Cancel Transaction: Useful when you enter wrong information or want to stop an unconfirmed transaction.
• Speed ​​Up: Allows increasing gas fees to process transactions faster.
• Custom gas fee: Users can adjust the gas fee to suit their purpose and budget.
• Risky transaction warning: The wallet will display a warning if you are about to send assets to an unknown contract address – helping to avoid losing money due to mistakes or fraud.

How to use Rainbow Wallet

How to create Rainbow Wallet account

Creating a Rainbow wallet is extremely easy and only takes a few minutes. Follow these steps to get started:

Step 1: Download the Rainbow app from the App Store (iOS) or CH Play (Android).

Step 2: Once installed, open the app and select “Get a new wallet” to create a completely new wallet.

Step 3: The app will ask you to choose a data backup method. You can:

• Select “Back up to iCloud” if you want to automatically backup on iCloud (recommended if you use an iPhone).
• Or “Backup manually” if you want to manually save your private keys.

Step 4: Next, set up a password to protect your wallet – this is an important security layer to keep your assets safer.

Step 5: Finally, save your password and recovery information carefully. Then, click “Got it” to complete the wallet creation process.

How to mint NFT on Rainbow Wallet

You can mint free NFTs directly on Rainbow Wallet in just a few simple steps. Here are the detailed instructions:

Step 1 - Deposit ETH into Rainbow Wallet: First, you need to have ETH on your wallet

Step 2 - Search for free NFTs: Open the Rainbow app and go to Discover. Here, select the search section and change the filter from “All” to “Free” to display NFT collections that are giving free mints.

Step 3 - Select a collection and mint: Browse through the available collections, select an NFT you like, then hold down the “Hold to Mint” button to proceed with minting.

After successfully minting, you can go to Activity or wallet history to review the details of the NFT mint transaction you just made.

How to claim point on Rainbow Wallet

Rainbow Wallet is currently running a points accumulation program for users, which may be related to a potential airdrop in the future. Here's how you can start earning points:

Step 1 - Access the “umbrella” section (Airdrop): Open the Rainbow app, on the main interface, click on the umbrella icon located in the lower right corner of the screen. Then select “Get Started” to join the program.

Step 2 - Receive random points: Wait for the system to load, you will receive a random amount of points - the specific amount will be displayed immediately after.

Step 3 - Check the accumulated points: After receiving points, you can track the total number of points you have right in the umbrella section.

$RNBW Information

$RNBW Key Metrics

Here is the information of  $RNBW

• Token Name: Rainbow
• Ticker: $RNBW
• Token Type: TBA
• Total Supply: TBA
• Contract address (CA): TBA

$RNBW Use Case

Currently, Rainbow Wallet has not announced any official use case of $RNBW for the project. Whales Market will update immediately when the official Rainbow Wallet website announces.

$RNBW Listing Details

Here are important details revealed to $RNBW:

• Listing time: TBA
• Confirmed CEX Listings: TBA
• Pre-market Price (Whales Market): TBA

$RNBW Tokenomics & Fundraising

Tokenomics

Currently, Rainbow Wallet has not announced any official Tokenomics of $RNBW for the project. Whales Market will update immediately when the official Rainbow Wallet website announces.

Fundraising

Rainbow Wallet successfully raised $19.5 million in 3 rounds funding, led by Seven Seven Six, 35Ventures and Hyperguap.

Rainbow Wallet Roadmap & Team

Roadmap

Currently, Rainbow Wallet has not announced any official roadmap for the project. Whales Market will update immediately when the official Rainbow Wallet website announces.

Team

Here is Rainbow Wallet members:

• Christian Baroni: CEO
• Jin Chung: CTO
• Michael Demarais: Engineer 

Conclusion

Rainbow Wallet is not just a simple Ethereum wallet but also a gateway to the Web3 world in an intuitive, friendly and full of potential way. With eye-catching design, many useful features such as NFT management, points accumulation, free mint and Layer 2 support, Rainbow is gradually asserting its position in the crypto community.

Disclaimer: This article is for informational purposes only, not investment advice, and Whales Market is not responsible for any of your investment decisions.

FAQs

1. What is the native token of Rainbow Wallet?

The native token of Rainbow Wallet is $RNBW, used to facilitate coordination across the ecosystem.

2. What is Rainbow Wallet ($RNBW) pre-market price?

Currently, $RNBW hasn't been listed on Whales Market yet, so users can trade $RNBW when it officially lists. Whales Market is the leading pre-market DEX platform to trade pre-TGE tokens and allocations, with over $300 million in volume, no middlemen, trustless and on-chain.

3. What is the price of Rainbow Wallet ($RNBW) today?

While Rainbow Wallet ($RNBW) hasn't been listed yet, users can trade $RNBW pre-market on Whales Market before the TGE. Here you can trade $RNBW before the asset got listed on leading CEXes like Binance, Bybit or OKX.

4. What is Rainbow Wallet?

Rainbow Wallet is a decentralized (non-custodial) wallet dedicated to the Ethereum ecosystem.

5. What is the $RNBW and its allocation?

Currently, Rainbow Wallet has not announced any official tokenomics of $RNBW for the project. Whales Market will update immediately when the official Rainbow Wallet website announces.

6. How much has Rainbow Wallet ($RNBW) raised?

According to Crypto Rank, Rainbow Wallet has raised $19.5 million in 3 rounds funding, led by Seven Seven Six, 35Ventures and Hyperguap.