SOFTWARE WALLET SELF-CUSTODY OPEN SOURCE
Rainbow Wallet review
Ethereum + L2 mobile wallet with strong UX
The verdict
7.5 / 10 · CONSIDER
Rainbow (NYC, founded 2017) is a mobile-first Ethereum wallet with one of the best UX in the space. NFT-friendly, L2 support (Optimism, Arbitrum, Base, Polygon, Zora), built-in fiat on-ramp via MoonPay/Ramp. Free + open-source.
◆ BUY IT IF
- Best-in-class mobile UX for Ethereum / L2
- Native NFT support — first-class collection browsing
- L2 support out-of-the-box (cheap transactions)
- Open-source + audited
◇ SKIP IT IF
- EVM-only — no BTC, no Solana
- Browser extension is newer (since 2024)
- Smaller user base than MetaMask / Trust Wallet
- Fiat on-ramp via partners only (no native rails)
§ 01 SCORE BREAKDOWN
Six axes, weighted.
DIMENSION WEIGHT RATING SCORE
Security
Open-source · community-reviewed
Coin support
7 chains · 5000+ coins
User experience
Features
In-wallet swap supported
Cost
Free to download
Support
§ 02 SPECIFICATIONS
Everything, in one table.
Type & custody
- Category
- Software Wallet
- Custodial
- No (self-custody)
- Hardware
- No
- Open source
- Yes
Coin support
- Chains
- 7
- Coins
- 5000
- NFT support
- Yes
- DeFi access
- Yes
- In-wallet swap
- Yes
- Staking
- No
Platforms
- Mobile
- Yes
- Browser ext.
- Yes
- Desktop app
- No
Pricing
- Price
- Free
- Annual fee
- —
§ 03 FAQ
Frequently Asked Questions
Is Rainbow Wallet safe? +
Rainbow Wallet Non-custodial open-source mobile wallet — no licensing required.. The code is open source and has been independently reviewed. It uses a 12/24-word seed phrase for backup and recovery.
How many coins does Rainbow Wallet support? +
Rainbow Wallet supports 7 chains and approximately 5000 coins/tokens.
Is Rainbow Wallet free? +
Rainbow Wallet is free to download and use. Free software wallet; network fees apply.
Does Rainbow Wallet support DeFi? +
Yes, Rainbow Wallet has built-in DeFi access. Token swaps are available directly in the wallet.
◆ OPEN ACCOUNT
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