Rainbow App Added RainbowID, Easily Managing Your Multi-Chain Wallets

IRISnet
IRISnet
Mar 23, 2021 · 4 min read

On March 23, Rainbow Wallet released v3.2.0, adding new functions including RainbowID, Binance Chain support, and multi-asset management. This new version provides multi-chain wallets for users to conveniently manage multi-assets, offering a more efficient and smooth user experience.

Features Upgrade

Rainbow Wallet v3.2.0 provides RainbowID feature. With this new feature, users can utilize one set of Mnemonic to efficiently manage multi-chain wallets.

Through creating RainbowID, there will be addresses and corresponding default wallets automatically generated on each supported chain. Meanwhile, users can choose to further create several custom HD wallets based on RainbowID, so that they are able to use different wallet addresses according to their own needs to better protect the transaction privacy and impove the asset security. All these multi-chain wallets can be efficiently managed with one same set of Mnemonic.

Rainbow Wallet v3.2.0 improves and upgrades functions for Mnemonic. Users can import the pervious wallets into Rainbow Wallet App by entering their 12 or 24 seed phrases, having more flexibility to utilize and manage wallets. In addition, Mnemonic can be viewed now so that users are able to have a more convenient experience.

RainbowID Tutorial

No matter you are new or regular users, both of you can create and use RainbowID by following the steps below.

  1. Open your Rainbow App
    1.1. New Users please click [Create Wallet], and select [Multi-Chain Wallets via RainbowID] to enter into [Create RainbowID] page;
    1.2. Regular Users can click [Manage Wallet] in the [Me] page, find [Create RainbowID] button at the bottom of the [RainbowID Wallet] page, and then click it to enter into [Create RainbowID] page;
  2. Set your wallet’s [Name] and [Password] on that page, and click [Next];
  3. Write down your Mnemonic correctly on paper and keep it safe, and fill in your Mnemonic as requested to complete the verification. More details about [Backup Wallet] can check Rainbow Wallet Tutorials;
  4. RainbowID created successfully, and default wallets have been automatically created on each supported chain.

If you are regular users, you can not only create RainbowID, but can also select one previous single-chain wallet and upgrade it to RainbowID, but in this way, you must need remember your Mnemonic of this wallet.

*The Mnemonic of the previous single-chain wallet that you select to upgrade will automatically become the only one set of Mnemonic for RainbowID. So please make sure that you have properly saved the Mnemonic of the wallet you choose.

  1. Open your Rainbow App, and click [Manage Wallet] on the [Me] page;
  2. Find the previous single-chain wallet that you want to upgrade, and click […] button of that wallet;
  3. Click [Get RainbowID];
  4. Fill in/confirm the information as requested:
    4.1. If the requested information is locally stored and can be detected, they will be automatically filled in, please check and then confirm by clicking [Get RainbowID];
    4.2. If the requested information cannot be detected locally, please fill in the information as requested by yourself and then confirm by clicking [Get RainbowID];
  5. Successfully get RainbowID.

After you have already had RainbowID, according to your own needs, you can further create several custom HD wallets on different chains based on RainbowID.

*The [Index] is the key information to identify/retrieve different HD wallets, because the set of Mnemonic for these multi-chain wallets is same. Please make sure that you correctly back up and save every Index you set for different HD wallets.

  1. Open your Rainbow App, and click [Manage Wallet] on the [Me] page;
  2. Find [Create HD Wallet] at the bottom of the [RainbowID Wallet] page, and click;
  3. Enter your [Password] to verify;
  4. Fill in the RainbowID Mnemonic as requested, and set [Name] and [Index] for the HD wallet;
  5. Make sure to correctly back up and save your set [Index], and then click [Create HD Wallet];
  6. HD Wallet created successfully.

If you delete HD wallets by mistake, you can retrieve certain HD wallet according to the above [Create HD Wallet] guides with the correct [Index].

  • The [Index] is the key information to identify/retrieve different HD wallets, so it is as important as your Mnemonic. Please make sure to write it down correctly and keep it safe!
  • There is only one set of Mnemonic for your RainbowID, so please also make sure to write it down correctly and keep it safe! Important Things when Backing Up Mnemonic (3 Dos and 3 Don’ts).
  • It is recommended to reasonably create and use wallets as needed to avoid unnecessary inconvenience by creating too many wallets.

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