KoinlyticsMetaMask, Rabby, and Phantom dominate the extension market. Mobile is a different story. Rainbow and Trust are the two most-installed dedicated mobile crypto wallets outside of exchange apps.
Rainbow
- iOS-first, native SwiftUI experience.
- Ethereum-focused (adding L2s slowly).
- Strong on ENS integration and social features (send by ENS or Farcaster).
- Popular in crypto-native circles.
- Owned by an independent team; well-funded.
Trust Wallet
- Multichain: 100+ chains including EVM, Solana, Cosmos, Bitcoin, Tron.
- Owned by Binance (acquired 2018).
- Simpler UX, aimed at mass market.
- Built-in DEX aggregator and NFT support.
- Larger install base globally.
Where each wins
- Rainbow. iOS user, Ethereum-focused, likes clean SwiftUI, values ENS + Farcaster integration.
- Trust. Android user, multichain exposure, wants access to long-tail tokens Binance lists.
Trade-offs
- Both are closed-source. Trust more so.
- Trust's Binance connection concerns some users.
- Rainbow's iOS-first means Android version lags.
Alternatives worth knowing
- Coinbase Wallet mobile (Smart Wallet + traditional EOA).
- Argent mobile (account abstraction + social recovery, Starknet + L2s).
- Zerion mobile (portfolio-first, wallet second).
Rule
Any mobile wallet holding meaningful balance should be paired with a hardware wallet for signing. Mobile-only self-custody is fine for small daily-use amounts. Not for savings.