Up Next: Rainbow Wallet

A simple, beautiful crypto wallet that acts like a DeFi browser

Beginning

The world of crypto is a vast place that can get confusing and difficult to know where to start. The term ‘crypto’ yesterday just meant cryptocurrencies like Bitcoin and just sending and receiving currency. ‘Crypto’ today means a wide range of areas within the crypto community, such as DeFi, NFTs, and using blockchain technology in an engaging way. Rainbow wallet is leaning into this new definition of crypto by providing an easy-to-use, engaging Ethereum wallet which encourages crypto holders to engage with many different Dapps and be able to browse DeFi. Rainbow is introducing moderate crypto users like ourselves into this new world by making at appealing and easy to use and swap crypto we have. Rainbow also deals with “self-custody” which gives more power to the crypto users, as opposed to exchanges like Coinbase and Robinhood.

Middle

Rainbow’s wallet is engaging because it puts your assets on display such as ENS domains and NFTs which make it easy to manage and visually appealing. For example, if you go to rainbow.me/zayyan.eth you can find my personal Muhammad Ali NFT, my Uniswap LP, and my zayyan.eth ENS domain — a perfect place to have and hold a ‘username and profile’ for crypto.

Rainbow’s ‘explore’ page is also amazing for discovering new DeFi options and learning more about the space. Rainbow makes it seamless to use your wallet across the cryptouniverse by putting all the hot DeFi use cases right in front of you. One example is staking Ethereum by swapping with the “DAI” token, which can earn you 2.4% APR (at the time of writing). Rainbow tries to ease you into engaging with DeFi and also uses WalletConnect to integrate with Dapps

Rainbow takes traditional crypto holders and transforms them into crypto enthusiasts who engage with DeFi and interact with Dapps.

End

The boom of consumer and social crypto is here and no one has risen to take on this challenge except Rainbow. For rookies like Ashank, this is the perfect platform to find out what he can do with his Ethereum instead of just letting it sit in his un-monitored Coinbase account. Just by using the app, I have been introduced to at least 10 more ways to use my Ethereum and believe that this is a platform that anyone looking to get into crypto should be using. Although this idea is still new and not necessarily cutting edge, Rainbow does a fantastic job of making the wallet very user-friendly, something other wallets can’t really say about themselves. Rainbow is filling a whole in the crypto world and we believe that in the rise of DeFi and DApps, they are here to stay.

Though Rainbow is a great introduction to crypto and backed by some of the most staunch crypto supporters out there, just because Rainbow is extremely early-stage (compared to our other companies) and we’re unsure of how they can grow a wallet into a billion-dollar company. Rainbow can become the browser of crypto, though that also comes with a lot of challenges from competitors and monetization strategy.

We are both broke, but we’d invest $3.75 of the 10 dollars in our bank account.