Ether (ETH) is the native currency of the Ethereum ecosystem, kind of like how the US Dollar is the native currency of the United States. ETH is the most popular cryptocurrency used on the internet, and it's how you'll pay for goods and services in the new world of Web3.
To complete a transaction using your wallet, you'll pay a fluctuating transaction fee (often called a gas fee) which must be paid using ETH. If you don't have any ETH in your wallet, you won't be able to transact. These fees support the people who are responsible for validating transactions on the public decentralized ledger known as the Ethereum Blockchain.
Blockchain transaction fees are not controlled or received by Rainbow, and they always have to be paid in ETH.
There are three basic ways to get some ETH:
- Buy ETH directly within the Rainbow app
- Buy ETH on an exchange and send it to your wallet
- Have a friend send you some ETH
Buy ETH directly within the Rainbow app
You can buy up to $500 of ETH per week by using a debit card through Apple Pay.
- Select an ETH amount from the main screen in Rainbow or input a custom amount.
- Tap on the "Pay" button.
- Tap on the total payment amount to see a summary of the fees.
- Confirm your purchase using Apple Pay.
- Wait for the ETH to arrive in your wallet.
The Purchase Fee is a small payment processing fee that Rainbow and our payment processor receive. The Network Fee is the transaction fee required by the Ethereum Blockchain itself, and it is not controlled or received by Rainbow.
Buy ETH on an exchange and send it to your wallet
Buying ETH from a crypto exchange can often have fewer limitations, but it also requires more account setup and approval. To learn how to buy ETH from Coinbase or Gemini, use their Help Centers:
After successfully acquiring ETH on an exchange, you can then send it to your wallet by copying your wallet's public address.
- Navigate to your profile by tapping on the emoji icon or by swiping left.
- Tap "Copy Address" to get your wallet's public address.
- Paste this address into your crypto exchange's send flow.
Rainbow only supports ETH and Ethereum-based assets. Do not send other types of cryptocurrencies or assets to your wallet.
Have a friend send you some ETH
If you have a friend who is willing to give you some ETH, then you can send them your public wallet address or let them scan your Rainbow QR code.
- Navigate to your profile by tapping on the emoji icon in the top right or by swiping left.
- Tap on the "Receive" button.
- Have your friend scan your Rainbow QR code or tap the "Share" button to send your public address via a message.