There are thousands of Ethereum-based tokens on the market, many of which can be easily traded for one another inside the Rainbow app or by connecting your wallet to a decentralized exchange like Uniswap.
- From the balances screen, tap on the Swap button in the bottom right corner.
- Choose the tokens you want to swap.
- Select from the default lists or search for a specific token.
- Check the token's contract address (if you want) by tapping on the "i" icon next to its name.
- Enter the token quantities by...
- Typing the amount of tokens you want to end up with OR...
- Typing the relative amount in your native currency OR...
- Typing the amount of tokens you currently have and want to use for the trade.
- Tap on "View Details" to see more information about the possible trade.
- Tap and hold on the "Hold to Swap" button to authenticate the trade using your device's biometric or passcode.
- After the transaction confirms, you will see the trade in your transaction history.
- Return to the balances screen and wait for your balances to update. This may take a few minutes, and you can pull down to refresh.
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.