Swap/trade Tokens and Cryptocurrencies
🤝

Swap/trade Tokens and Cryptocurrencies

Swaps on Rainbow are better than ever! For the first time, Rainbow has gone on-chain to get you the best swap price possible. Rainbow’s new contract RainbowRouter is now available on Ethereum Mainnet, Arbitrum, Optimism, and Polygon.

In this article, we’ll guide you through the process of swapping these tokens on either your Android or iOS devices along with the different resources at your disposal.

Instructions:

image

Step 1: On the main screen, tap on the Swap button

Step 2: From here, you can either search for the token you’re looking to swap, or select from the tokens in your wallet

Step 3: You’ll then be brought to the swap screen where you can input the amount your looking to swap. Now, let’s select what you’re looking to swap to

Step 1
Step 1
Step 2
Step 2
Step 3
Step 3

Step 4: Next is the Receive screen where you can either search for the token, or again, select from the tokens in your wallet:

  1. From this screen, you can also select which network you’d like to swap on. For the examples below, I’m swapping on Ethereum Mainnet
Step 4
Step 4
Step 4a
Step 4a

Step 5: Once you select the receiving token, you’ll then be brought back to the main swap screen. There are a few things we can toggle and customize on this screen before reviewing to tailor your experience:

  1. You can click ⬆️⬇️ Flip to switch the tokens for the swap
  2. You can click Settings which will allow further customizations:
    • Choose Swap Routes: By default, Rainbow chooses the cheapest route possible for your swap. If you prefer to specifically use either 0x or 1inch, you can also do that! For more information, check out our 🌈 Swap with Confidence with Rainbow article
    • Toggle Flashbots: Flashbots protects your transactions from frontrunning and sandwich attacks, which might result in you getting a worse price or your transaction failing. For more information, check out our 🤖 Protecting Transactions with Flashbots article
    • Edit the Slippage: Slippage occurs when the price of a swap changes during the time between you submitting your transaction and its confirmation. You can check out additional resources here
  3. You can also select the Defaults option at any time
Step 5
Step 5
Step 5b
Step 5b

Step 6: Once you have your settings confirmed, you’ll then be brought to your transaction review page. Here, you’ll receive all the necessary details including:

  • Minimum Received
  • Swapping Via
  • Rainbow Fee Breakdown
  • Additional Details

Step 7: Next, tap and hold on the "Hold to Swap" button to authenticate the trade using your device's biometric or passcode

Step 6 & 7
Step 6 & 7

Step 8: After the transaction confirms, you will see the trade in your transaction history

Step 9: Return to history screen and wait for your balances to update. This may take a few minutes, and you can pull down to refresh!

Step 8 & 9
Step 8 & 9

⚠️
Anyone can create a token and name it whatever they want. Always be sure you are swapping for the token you actually want by using trusted lists or by checking the token's contract address and verifying it against the official source.

Additional Readings:

image