Rainbow
Self-custody crypto wallet that has expanded into a multi-asset trading app for phone and browser.
Best for
Self-custody users who want one app for wallet storage plus crypto, stock, prediction market, and leveraged trading.
Skip if
You just want a simple, minimal wallet without built-in leveraged trading and prediction markets.
What is Rainbow?
Rainbow began as a self-custody Ethereum wallet known for its clean design and strong NFT support, and it remains a non-custodial wallet at its core ("Your keys. Your crypto."). The team also created RainbowKit, one of the most widely used open-source libraries for connecting wallets to Web3 applications, alongside the consumer wallet product. Rainbow has since expanded well beyond a wallet, adding the ability to trade stocks, prediction markets (via Polymarket), and leveraged perpetual futures up to 50x (powered by Hyperliquid) directly from the app, alongside its original crypto and meme coin trading. It's available as mobile apps for iPhone and Android, a browser extension for Chrome, Firefox, Edge, Brave, Safari, and Arc, and a paid Rainbow Black tier that adds instant deposits and fee auto-compounding on top of the free base app.
SpecificationsAI-estimated
Key Features of Rainbow
Use Cases for Rainbow
Self-custody crypto storage
A user holds ETH and NFTs in Rainbow's wallet, keeping full control of their private keys instead of an exchange account.
Trading prediction markets from a phone
Someone places a bet on an election outcome through Rainbow's Polymarket integration without needing a separate crypto-native app.
Leveraged trading on macro assets
An active trader opens a leveraged long position on gold or the S&P 500 through Rainbow's Hyperliquid-powered perpetuals.
Connecting a wallet to a dApp
A developer integrates RainbowKit into their own decentralized app so users can connect Rainbow or other wallets easily.
Pros & Cons of Rainbow
Pros
- Genuinely self-custodial, so users retain control of their private keys rather than trusting a custodial exchange.
- Combines crypto, stocks, prediction markets, and leveraged perpetuals in one app instead of requiring several accounts.
- Available as both mobile apps and a browser extension across all major browsers.
- Strong developer reputation via RainbowKit lends credibility beyond just the consumer wallet app.
Cons
- The product has shifted significantly from a simple NFT-friendly wallet toward a broader trading app, which may not suit users who just want a basic wallet.
- Leveraged perpetual futures up to 50x carry substantial risk of rapid, total loss for inexperienced traders.
- Rainbow Black's exact subscription price is not published on the marketing site, requiring sign-up to see terms.
Frequently Asked Questions
Is Rainbow still just a wallet?
It started as a self-custody Ethereum wallet and still is one, but it has expanded into a broader app supporting stock, prediction market, and leveraged perpetuals trading.
Is Rainbow self-custodial?
Yes, users control their own private keys; Rainbow markets itself around the phrase Your keys, your crypto.
What is RainbowKit?
RainbowKit is a separate open-source wallet-connection library maintained by the Rainbow team, widely used by Web3 developers.
Does Rainbow have a browser extension?
Yes, in addition to iOS and Android apps, Rainbow offers a browser extension for Chrome, Firefox, Edge, Brave, Safari, and Arc.
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