Rainbow Cryptocurrency review | Is it a good investment in 2022
In this article, we will discuss the Rainbow coin and its details. There are rumors that Rainbow coin focuses on the LGBTQ+ community. The rainbow coin is built on Ethereum coin. Let’s discuss its details.
The rainbow coin is an Ethereum-based cryptocurrency coin based on the ERC20 standard. It can be stored in any Ethereum wallet that supports this sort of currency and has unlimited coins.
What is Rainbow Currency?
The Rainbow Currency (YEM) is a True Digital Currency that meets all of the legal requirements to be considered one for your next investment. YEM stands for “Your Everyday Money” and is a Rainbow Currency symbol. The two-wallet system provides you with the safety and security you require while maintaining the ease you want.
It was founded as a pure currency with no connections to any particular business. It is represented by the Rainbow Currency Foundation, a global non-profit organization with members from all around the world on its board of directors.
Rainbow Currency’s primary goal is to develop and grow an economy where YEM is the only acceptable form of payment, bringing value and stability to the crypto world.
As previously stated, it is built on the Ethereum blockchain. It will include an ERC20 compatible wallet, making it simple for users to use the rainbow coin in their daily lives.
The Rainbow coin is a cryptocurrency designed specifically for use in the adult industry. By the way, Christian Baroni, Mike Demarais, and Jin Chung founded the platform in 2019 to make Ethereum technologies more accessible to non-technologists.
Price of Rainbow Coin
Rainbow coins are not as valuable as you might think right now. Rainbow coins can be purchased for $0.00000001022 per coin at today’s price. Still, they cannot be traded or exchanged for other currencies such as Bitcoin or ETH (Ether), making this coin more unique from other cryptocurrencies.
But it is predicted that the price of Rainbow will grow in upcoming years.
Is Rainbow Coin a Good Investment?
The value of Rainbow coin will go up in the future. Please keep in mind that any investment has some risk. It is essential to know before what you’re investing in before drawing any judgments and do as much research as possible.
But keep in mind that Rainbow coin’s price can be volatile like any other cryptocurrency. As the world is quickly catching on to blockchain technology, which can help stabilize prices in the future.
Suppose you are looking for a simple way to earn money on your investments with little risk or effort. In that case, it might not hurt to try investing in cryptocurrencies such as rainbow coins before they might become the next Dogecoin.
Where to buy Rainbow Coins?
Rainbow coins can be purchased directly from many cryptocurrency platforms. The following are the best cryptocurrency trading platforms from which you can buy rainbow coins:
- Maintain Gate.io
Are rainbow coins and rainbow wallets the same?
Nobody is clear on this; there might be a chance that both of them might be connected in any way. But for now, no official statements or tweets are posted to define any connection between these coins.
What is a Rainbow wallet?
Rainbow is an easy-to-use, secure Ethereum wallet that makes handling your funds easy and convenient. Securely store and send your Ethereum-based assets, see and manage your Defi positions right in your wallet, send to ENS usernames instead of addresses, import your seed phrase from Metamask and other wallets.
Rainbow Wallet vs Metamask Wallet
Decentralized crypto wallets are becoming increasingly popular, and users can select from various choices. Metamask and Rainbow Wallet are two of the most popular options in this market.
While these two crypto wallets serve the same purpose for the vast majority of blockchain-based assets, they differ in several ways.
The MetaMask Wallet is one of Ethereum’s most popular and user-friendly applications. MetaMask was created so that users can store Ethereum-based crypto assets simply by browsing the web. The main goal was to ease the Ethereum ecosystem while eliminating the risk involved with centralized crypto asset custody.
Whereas Metasmask has a robust security framework, it has significant limitations compared to Rainbow Wallet. Metamask is limited to Ethereum, and you must connect to a DeX to exchange any other crypto coins.
The best feature of Metamask is its user-friendly interface, which makes it simple to use decentralized applications within the Ethereum ecosystem.
Rainbow Wallet is the most cost-effective when comparing the costs of storing crypto or NFT assets on both wallets.
Both MetaMask and Rainbow Wallet provide safe cryptocurrency and coin storage. Both systems include security methods that avoid vulnerabilities like phishing attacks or seed phrase hacking to keep these monies safe.
Rainbow Wallet Review
Rainbow is designed for customers who are more into Web 3.0 and looking forward to storing assets in this emerging technology.
Apple Pay technology can be used to purchase ETH or other ERC-20 token. Acquiring assets and guiding new customers into the Ethereum ecosystem takes less than thirty seconds.
As we all know, Uniswap is the leading decentralized exchange. Users can also utilize Rainbow to connect to DApps and Yearn, Aave, and Compound websites. Sites like Foundation, Zora, and OpenSea sell and display crypto art. Share a Rainbow profile on social media to show off their favorite NFT’s.
Users can also use Rainbow with an existing Ethereum wallet, such as MetaMask, by connecting these wallets with a verification pass. Moreover, Rainbow also charges gas fees whenever the Ethereum blockchain is upgraded. It is essential to keep in mind that Rainbow is only passing these fees on to the user and is not benefiting from themselves.
In this article, we discussed Rainbow currency and its details. We discussed its upcoming price prediction and if it’s a worthy investment or not. We discussed the Rainbow wallet and had a detailed discussion about its features and a detailed comparison between the Rainbow and Metasmask wallet. For more updates, subscribe to our newsletter and share this content with your friends.