Cryptocurrency & Blockchain · head to head
Rainbow vs Bybit
Rainbow
Cryptocurrency & Blockchain
The fun, simple, and secure Ethereum wallet
- From
- Free
- Rated
- -
The short version
- Each has a real cost: Rainbow free instant deposits and fee auto-compounding are gated behind the paid Rainbow Black tier; the vendor's own site states "Upgrade to Rainbow Black for free instant deposits, bigger rewards, and up to 100% of your trading fees auto-compounded", implying standard accounts pay deposit and trading fees; Bybit unavailable in US, Canada, and UK due to regulatory restrictions
- They diverge on capability: Rainbow covers Ethereum Wallet, Bybit covers Perpetual Contracts.
Where they differ
Only the attributes on which Rainbow and Bybit actually diverge.
Identical on both: starting price (Free), free tier (Yes), user rating (Not yet rated), category (Cryptocurrency & Blockchain).
What each one covers
Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.
Only in Rainbow
- Ethereum Wallet
- NFT Gallery
- ENS Integration
- Layer 2 Support
- Swaps
- Ethereum
- Optimism
- Arbitrum
Only in Bybit
- Perpetual Contracts
- Futures Trading
- Spot Trading
- Copy Trading
- Launchpad
- Bybit Wallet
- Bybit Card
- Web support
Both cover
- Ios support
- Android support
What people use each for
The jobs each tool is most often brought in to do.
Rainbow
- Walletsnot Bybit
- Ethereumnot Bybit
- Mobilenot Bybit
Bybit
- Exchangesnot Rainbow
- Derivativesnot Rainbow
- Futuresnot Rainbow
Where each one falls short
Documented limitations, not opinions. Every one is a constraint you would hit in normal use.
Rainbow
- Free instant deposits and fee auto-compounding are gated behind the paid Rainbow Black tier; the vendor's own site states "Upgrade to Rainbow Black for free instant deposits, bigger rewards, and up to 100% of your trading fees auto-compounded", implying standard accounts pay deposit and trading fees
Bybit
- Unavailable in US, Canada, and UK due to regulatory restrictions
- Limited fiat currency deposit and withdrawal options compared to other major exchanges
- Smaller selection of altcoins compared to Binance
Pricing, plan by plan
Rainbow
Free- FreeFree
- Ethereum wallet
- NFTs
- ENS
Bybit
Free- Spot Trading$0.1/percent maker/taker
- 0.1% base fee
- Futures Trading$0.02/percent maker
- 0.02% maker / 0.055% taker
Which should you pick?
Choose Rainbow if
- You need ethereum wallet.
- You want to start without paying.
- You work on Ios, Android, Chrome.
- You also want nft gallery.
Choose Bybit if
- You need perpetual contracts.
- You want to start without paying.
- You work on Web, iOS, Android, Desktop.
- You also want futures trading.
Questions people ask
- Is Rainbow or Bybit better?
- Neither clearly leads. Rainbow starts at Free and Bybit at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
- Which is cheaper, Rainbow or Bybit?
- Rainbow starts at Free and Bybit at Free.
- Does Rainbow or Bybit run on more platforms?
- Rainbow runs on Ios, Android, Chrome. Bybit runs on Web, iOS, Android, Desktop.
- Can I use Rainbow for free?
- Both have a free tier, so you can try either at no cost before committing.
- What is Rainbow best used for?
- Rainbow is most often used for wallets, ethereum, mobile. Of those, wallets and ethereum are not what Bybit is typically brought in for.
- What can Rainbow do that Bybit cannot?
- Rainbow covers Ethereum Wallet, NFT Gallery, ENS Integration, Layer 2 Support. Bybit covers Perpetual Contracts, Futures Trading, Spot Trading, Copy Trading. Both handle Ios support, Android support.
Answered from the vendors’ own pages
Bybit: What trading products does Bybit offer?
Bybit offers spot trading, perpetual contracts (up to 125x leverage), futures with daily/monthly/quarterly contracts, and options on BTC, ETH, and SOL settled in USDC.
SourceBybit: What are Bybit's trading fees?
Spot trading fees start at 0.1% for both maker and taker. Futures fees are typically 0.02% maker and 0.055% taker, with discounts available for VIP tiers based on trading volume.
SourceBybit: Where can I withdraw fiat from Bybit?
Bybit has limited fiat withdrawal options and is not available in the US, Canada, or the UK due to crypto regulations. Fiat withdrawals depend on your country of residence and banking partners.
SourceBybit: Does Bybit support mobile trading?
Yes, Bybit offers a mobile app for iOS and Android with access to all trading features including spot, derivatives, and advanced order types.
Source