Wallets created in Rainbow are generated using a secret phrase that was created (or imported) when you first setup Rainbow.
A secret phrase is like a cryptographic key and whoever knows it can control everything inside of a wallet. The phrase can even be used to create multiple wallets that can all be restored using the same phrase.
These additional wallets created under the same secret phrase are often called “sub accounts” or “sub wallets”
To generate additional wallets under the same secret phrase, follow these steps which are both applicable on Android and iOS:
Step 1: Tap on the arrow next to your active wallet’s name to open the Wallet Switcher menu
Step 2: Tap on Add another wallet
Step 3: Next you’ll tap Create a new wallet. From here, you can name the wallet anything you’d like or just tap the “Create Wallet” button. Your device’s biometric or passcode will then be used to authenticate it