Blockchain wallet is one of the necessary products for users to trade cryptocurrencies in the crypto market. Among famous wallets on the market such as MetaMask or Rabby Wallet , Rainbow Wallet is a crypto wallet that is trusted by new users with a simple and easy-to-use interface. So what is Rainbow Wallet? Let's learn about Rainbow Wallet and how to use this blockchain wallet with Coin68 through the article below!
What is Rainbow Wallet? Instructions for using and Mint Non-Fungible Token on Rainbow wallet
What is Rainbow Wallet?
Rainbow Wallet is an Ethereum blockchain wallet application with a simple and secure interface, launched in 2019 by the collaboration of Christian Baroni, Jin Chung and Mike Demarais. In addition to being designed to manage and display crypto assets on the Ethereum blockchain, Rainbow Wallet also has the ability to connect to the most popular Non-Fungible Token and DeFi applications in the ETH ecosystem.
Rainbow Wallet
As an Ethereum blockchain wallet available on both mobile phones and personal computers, Rainbow Wallet is recognized as a user-friendly wallet through its simple and colorful interface. Not only that, the wallet also supports ENS domains and is capable of connecting to Layer 2 such as Polygon , Arbitrum , Base and Optimism . This makes Rainbow one of the best choices for both newcomers to the crypto market and experienced users.
Special features of Rainbow Wallet
- Open source code: Open source code plays an important Vai in ensuring safety and security for Rainbow. 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 holes during software use.
- Experienced team : Rainbow's development team has experience from famous wallets like MetaMask. Different from other wallets, Rainbow stands out with its 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. Not requiring information such as email addresses or names, Rainbow helps minimize the risk of sensitive information being leaked from data theft or unauthorized access.
Competitors
In the cryptocurrency market, crypto wallets are an indispensable tool for users to store and interact with on-chain Dapps. Because of that, Rainbow Wallet has no shortage of competitors such as:
- MetaMask: Decentralized cryptocurrency wallet available as a browser extension and mobile app. This is one of the most popular crypto wallets on the market and supports many different blockchains and Token types.
- Coin98 Wallet: Wallet that stores assets on the blockchain with Non-Custodial characteristics (does not store user information).
- Rabby Wallet: Non-Custodial blockchain wallet compatible with EVM to help users store, manage and trade many different types of crypto assets on Multi-Chain.
- Trust Wallet: Binance's official decentralized crypto wallet, supports many different Token types and allows users to store multiple Token on the market safely and conveniently.
Investors and strategic partners
Rainbow Wallet raised $18 million in a series A investment round in 2022, with the participation of Seven Seven Six Venture Capital , owned by Alexis Ohanian - founder of Reddit.
Seven Seven Six and Founder Alexis Ohanian
The series A investment round was completed in October 2021 and also marked an important step in the company's development. Since that time, Rainbow has expanded its team to more than 20 employees, aiming to expand its business and attract users according to the official announcement from the company. Notably, Rainbow decided to keep the list of additional investors participating in this investment round secret, followed by calling for a seed round with a scale of 1.5 million USD.
Instructions for creating Rainbow wallet
- Step 1: Link to e-wallet, Visa or Mastercard on your iPhone.
- Step 2: Go to App Store and find Rainbow wallet.
- Step 3: After downloading, log in to the Rainbow app and select " Get a new wallet " to create a completely new wallet.
- Step 4: Choose the method to backup your wallet data, you can store it on iCloud by clicking " Back up to iCloud " or backup as usual " Backup manually" . In this article, I will backup using iCloud.
Step 5: You set up a personal password for the wallet.
- Step 6: After setup, remember and save your password carefully, then click " Got it ".
Instructions for Mint Non-Fungible Token on Rainbow
- Step 1: Withdraw ETH on any Binance exchange to Rainbow wallet. I chose to withdraw according to Base because Base has 2 free Mint Non-Fungible Token.
- Step 2: Access the search section as shown and select " All " to set it to " Free " to filter out Non Fungible Tokens that can be Mint free.
- Step 3: Choose an Non-Fungible Token collection and select " Hold To Mint ".
- Step 4: Go to check Mint history.
Instructions for earning points on Rainbow wallet
- Step 1: Go to the umbrella section in the lower right corner of the application and click " Get Started ".
- Step 2: Wait for the load to finish and you will receive a random number of points.
- Step 3: Check your points.
If you have Mint Non-Fungible Token Rainbow Zorbs since December 2022, up to now you have received more than 5000 points.
summary
Through this article, Coin68 hopes you will understand how to use Rainbow Wallet. Wishing you success and making a lot of profit from the crypto market.
Note: The information in the article is not XEM investment advice, Coin68 is not responsible for any of your investment decisions. Wishing you success and earning a lot of profit from this potential market.
