The short version
- Score: 3.1/5, ranked 10 of 17 wallets we rate
- Strongest: Security (3.8/5)
- Weakest: Backup and recovery (1.7/5)
- Source code: open source
This review is generated from public evidence. Every point below links to the fee page, license, audit or report it came from, and the same rules score every wallet we cover. Evidence was last checked on Sep 30, 2026.
Blocklr score: 3.1/5
| Category | Score | Weight |
|---|---|---|
| Security | 3.8/5 | 40% |
| Features | 3.1/5 | 20% |
| Backup and recovery | 1.7/5 | 15% |
| Usability | 3.4/5 | 15% |
| Cost | 1.7/5 | 10% |
How Rainbow earned its score
Security: 3.8/5
| What we checked | Points | Why |
|---|---|---|
| Open source | 3 / 3 | Source code is fully published. source |
| Key protection | 2 / 3 | Can sign with a hardware wallet. source |
| Published independent audits | 0 / 2 | No published independent audit found. |
| Incident record since 2019 | 4 / 4 | No incidents found since 2019. |
Features: 3.1/5
| What we checked | Points | Why |
|---|---|---|
| Networks | 1 / 3 | Supports Ethereum and EVM chains. source |
| Capabilities | 4 / 5 | Offers staking, swaps, NFTs, app connections. source |
Backup and recovery: 1.7/5
| What we checked | Points | Why |
|---|---|---|
| Recovery options | 1 / 3 | BIP39 recovery. source |
Usability: 3.4/5
| What we checked | Points | Why |
|---|---|---|
| Platforms | 2.25 / 3 | Works with iOS, Android, browser extension. source |
| Support | 0.5 / 1 | Email or ticket support. source |
Cost: 1.7/5
| What we checked | Points | Why |
|---|---|---|
| Price or swap fee | 1 / 3 | Free to use; the in-app swap fee is not published. source |
Track record since 2019
We found no hacks, breaches or freezes affecting Rainbow since 2019.
Who Rainbow fits
A good fit if
- You want a free wallet for everyday use.
- You want code that anyone can inspect.
- You plan to pair it with a hardware wallet later.
Think twice if
- You care most about backup and recovery: it is Rainbow's lowest category at 1.7/5.
Goes to the official site. Blocklr earns nothing from this link.
Frequently Asked Questions
Is Rainbow open source?
Yes. Rainbow's source code is published. Mobile app (github.com/rainbow-me/rainbow) and browser extension (github.com/rainbow-me/browser-extension) are both public under GPL-3.0. Backend services were not checked.
How much does Rainbow cost?
Rainbow is free to download. Free to use; the in-app swap fee is not published.
Has Rainbow had a security incident?
We found no security incidents affecting Rainbow since 2019.
How is Rainbow's score calculated?
Rainbow scores 3.1/5. The score is calculated by fixed rules from public evidence, and the same rules apply to every wallet. No company can pay to change it.
About this review
Blocklr has no affiliate, advertising or sponsorship deal with Rainbow or any other platform, so nothing here was paid for. Scores come from the rules in our review methodology. A fact we could not confirm scores as the lowest tier, which can make a score lower than it deserves. If something is wrong or out of date, tell us and we will check the source and correct it.