Rabby Wallet Review | Is It Really Much Safer Than MetaMask?
Jack Moreau
Feb 2024
7 min read
Fact checked
Introduction: Facing challenges in selecting the best crypto wallet for your specific needs? Our Review into the hyped Rabby Wallet provides insights into its utility, features, and potential limitations. Keep reading and we promise you will quickly discover if this is the right wallet for you!
Rabby Wallet originated from the Chinese company DeBank established by Tang Hongbo which raised over $25 million for the development of the Rabby Wallet. The wallet was launched in 2021 and the company is comprised of a small team of 20 employees with headquarters in Singapore.
Rabby Wallet Website
The Rabby wallet is a software wallet that supports Ethereum and all other EVM chains such as Avalanche, Arbitrum, Optimism, Base, Fantom, BSC, Evmos and many others.
Users can easily switch between these EVM chains in order to access DeFi opportunities across these different blockchains. This means that users can easily access Dapps such as Avee, Compound, Maker, Curve, Pancakeswap swap and many others within the wallet.
Rabby is an open-source cryptocurrency wallet that is available for download on desktop and browser. The browser wallet which is available on Chrome and Brave has been downloaded over 100,000 times and has received a good 4.3 star rating.
Rabby Browser Extension
The wallet can also be downloaded for desktop usage as is available for MacOS Intel, MacOS M1/M2 and Windows. Mobile development for Android and IOS is in development but has yet to be released.
Rabby Crypto Wallet
The Rabby Wallet is well designed and easy to use on desktop and browser. Like most other software wallets, Rabby offers a similar setup process which involves installing the wallet on either desktop or browser.
Users must then create a new wallet, enter their password and safely write down and store the backup seed phrase that is given to them. Once the setup has been completed, the users can begin transferring assets to their wallet and begin interacting with different Dapps.
Rabby Wallet Features
When it comes to product features, Rabby Wallet offers less features than more well known wallets such as MetaMask and Trust Wallet. Users of Rabby have seamless access to all EVM compatible blockchains and their respective Dapps.
Rabby Multi-Chain Support
This means among other things that they can swap assets within the wallet by using the different DEXes across the supported EVM blockchains. Users can also buy, sell and view their NFTs within the wallet.
Unfortunately, the Rabby Wallet does not offer many additional features like offering staking support for the many EVM-based blockchains that it supports. Users are also not able to buy cryptocurrencies with fiat currencies within the wallet as no payment providers are integrated.
Rabby Hardware Support
This puts Rabby at a big disadvantage against more popular wallets as they are able to outcompete it with both more features but also more cryptocurrencies and blockchains.
The Rabby Wallet supports 10,000s coins and tokens across the over 81 EVM blockchains that are available. This means that all the cryptocurrencies associated with Ethereum, Avalanche, Arbitrum, Base, Optimism, Polygon, Evmos etc are supported.
Rabby Blockchain Support
This also means that stablecoins for USDT, BUSD and USDC across these blockchains are also supported and available. In terms of hardware wallet support, Rabby Wallet currently provides connectivity with the likes of Ledger, Trezor, Keystone, AirGap Vault, GridPlus, OneKey and CoolWallet.
Built on an open-source framework, Rabby Wallet stands out as the sole mainstream extension wallet to adopt the user-friendly MIT license. This dedication to security is further underscored by audits conducted by Slowmist.
Rabby Wallet Security
Another security feature worth highlighting is its private key management system which has been developed leveraging the trusted components from MetaMask.
Every transaction made through Rabby undergoes scrutiny in its native security engine. This advanced feature actively scans for potential threat such as previously compromised contracts or nonexistent recipient addresses.
Rabby Security Engine
Rabby also offers resilience against back-end service failures. The wallet's stringent security measures remain intact and uncompromised, irrespective of the availability or integrity of its back-end services.
Lastly, Rabby has introduced an innovative feature for its users which is the ability to preview their estimated balance change before confirming a transaction, ensuring clarity and confidence with each transaction.
Author
Jack Moreau
Jack is a crypto writer and reviewer who has been active in the space since he caught the crypto bug in 2017. With a passion for trying out new shiny things, Jack is always eager to try the latest cryptocurrency exchanges, wallets or DeFi applications.
