Get Started with Rainbow
Get Started with Rainbow

Get Started with Rainbow

Welcome to Rainbow! We're so glad you're here. ☺️ We’ve created this guide to help with the basics of Rainbow and get you started on your new Web3 and Ethereum journey. If you have any questions along the way, please connect with us at anytime at [email protected]

Table of Contents:

Create and Backup your Rainbow Wallet:

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Once you have the Rainbow app installed on your device, iOS/Android, open it up and tap the "Get a new wallet" button to begin. You now have your first Ethereum wallet, but you need to back it up so you don't lose it.

Step 1: Tap "Get a new wallet" to begin

Step 2: Choose your backup method. In this example, we’re on an iOS device

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We at Rainbow don't have access to your wallet, and we can't control it. Your wallet is 100% yours, and the keys to it have been generated cryptographically on your device for your eyes only. It is created using an open standard that is portable and used across the Web3 ecosystem. If you decided Rainbow wasn't for you, then you could easily leave and take your wallet to another app. 🤝
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The Importance of Backing Up:

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A wallet is permanent, and it's not like a login account to a traditional website like Facebook or Google. If you don't back up your wallet, then there is no way to recover it. Thankfully, backing up your wallet is super simple:

  • In Rainbow, you can instantly backup your wallet using our Backup feature (shown in the first screenshot below).
  • If you prefer to back it up manually on a piece of paper or other physical object, then you have that option too! Just make sure your secret phrase is secure in a separate location.
  • Either way, you can always change your mind later and edit your backup within the app's settings.

If you choose to backup using either iCloud or Google Drive, then you'll set a password for your backup.
If you choose to backup using either iCloud or Google Drive, then you'll set a password for your backup. Make sure you save this password someplace safe! You'll need it if/when you ever need to recover your wallet.
If you choose to backup your wallet manually, you'll need to make a copy of your wallet's
If you choose to backup your wallet manually, you'll need to make a copy of your wallet's secret phrase. These words are the keys to your wallet, and they are for your 👀 only.

How to acquire Ether (ETH):

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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.
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Blockchain transaction fees are not controlled or received by Rainbow, and they always have to be paid in ETH. For additional information, please check out our Gas Fees Explained article.

Option 1: Buy ETH directly within the Rainbow app:

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You can buy up to $1,000 ETH per week by using a debit card through Apple Pay or through Wyre directly on Android:

For iOS:

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Step 1: Select an ETH amount from the main screen in Rainbow or input a custom amount

Step 2: Tap on the "Pay" button

Step 3: Confirm your purchase using Apple Pay. You can also tap the total payment amount to see a summary of the fees

Step 4: Wait for the ETH to arrive in your wallet

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For Android:

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Step 1: Select an ETH amount from the main screen in Rainbow or input a custom amount

Step 2: Tap on the "Next" button

  • The fees will be outlined here with a breakdown of the transaction and network fees

Step 3: Confirm your purchase using Wyre’s payment portal by entering in your payment information

Step 4: Wait for the ETH to arrive in your wallet

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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.

Did your purchase fail? Check out our 🏦 Troubleshoot Failed Payments article for additional details.

Option 2: Buy ETH on an exchange and send it to your wallet:

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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.

Step 1: Navigate to your profile by tapping on the emoji icon or by swiping left

Step 2: Tap "Copy Address" to get your wallet's public address

Step 3: Paste this address into your crypto exchange's send flow

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Rainbow only supports ETH and Ethereum-based assets. Do not send other types of cryptocurrencies or assets to your wallet.

Option 3: Have a friend send you some ETH:

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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.

Step 1: Navigate to your profile by tapping on the emoji icon in the top right or by swiping left

Step 2: Tap on the "Receive" button

Step 3: Have your friend scan your Rainbow QR code or tap the "Share" button to send your public address via a message

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Send assets out of Rainbow:

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Now that you have your wallet created, backed up, and some ETH — you can at any time send your assets to another wallet, an exchange, or to a friend. Here’s how you do it on both Android and iOS devices:

Step 1: From the main screen, tap on the send button in the bottom right

Step 2: Paste a public wallet address or choose from your list of saved contacts or imported wallets

Step 3: Tap on the asset you want to send from the list that appears.

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Step 4: Enter the amount you want to send

Step 5: Review the transaction summary to make sure everything is correct, then press and hold on the "Hold to Send" button to confirm the transaction

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Only send assets to wallet addresses that you know can receive them. When sending assets to a crypto exchange like Coinbase, follow the instructions they provide carefully or else your assets might get lost.

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Transactions on the blockchain are permanent. Once a transaction has confirmed, there is no way to reverse or undo it.

Additional Readings:

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