Rabby

Basic Information

Rabby is a software wallet (SW) that works as a browser extension. As the DeFi world is expanding rapidly, the team behind DeBank has decided to create a wallet that will swiftly respond to the needs of the DeFi community.

Functionality

Founded in 2021, Rabby is a wallet that is aimed mainly at the Ethereum and EVM chains. The main goal of the developers is to create a better extension wallet for DeFi users. It is a non-custodial, decentralized and open-source wallet, audited by a company called SlowMist.

So far, it is available on Chrome or Brave browsers, but the Firefox and Edge versions of the wallet should be available soon. Developers are also working on a mobile app. Rabby supports all dApps that the more well-known software wallet MetaMask supports, as well as connection with many hardware wallets (such as Trezor and Ledger), institutional wallets and mobile wallets.

The main advantage of Rabby is its design for multi-chain scenarios and working with dApps. The developers are taking care of security by creating a pre-transaction risk scanning. This means that if anything suspicious occurs, the wallet will show you messages like “security risk”, “the recipient address does not exist”, and other alerts. Furthermore, the app shows you your estimated balance change after a transaction. It also automatically switches to the corresponding chain when you are interacting with the site you are visiting.

Pros and Cons

Pros

Easy to install – the installation of the wallet will take you no more than 1 minute
Pre-sign check – an extra safety feature that will inform you about a lot of risks that could be hidden in a transaction you are about to make
Support for many other wallets – Rabby supports and can be connected to many other wallets
You can connect it to a lot of dApps – the wallet supports a lot of dApps which might be handy for people who are interested in DeFi

Cons

No guide for beginners – the app is not exactly user friendly for beginners as it does not show any instructions on how to use it
Does not support many blockchains – the wallet lacks a support for many really popular blockchains like Cosmos or Solana
So far, available only on Chrome and Brave browsers – this con should not be applicable for long, as the developers are promising the Firefox and Edge versions will come soon

Supported Chains

In January 2023, the wallet supports 44 chains (including Avalanche, Evmos, Kava, BNB Chain, Dogechain, Polygon and Ethereum). It is expected that the list of supported chains will expand in the future.

You can find the list of supported assets on the official website.

Tips from an Analyst

When downloading the browser extension, be sure to do it only from the official website. Also, do it only in a secure environment in which no one is watching your computer screen. Write down your seed, preferably on a piece of paper or metal plate, and never put it onto an electronic device as someone might be able to steal it.

Before putting any money in your wallet, conduct proper research as you are responsible for everything you do in the crypto world. Never invest more money that you can afford to lose.

Personal Opinion

Rabby is a promising project that looks like it will have a bright future. As it was only founded in 2021, it does not have many users (only 40,000 on Chrome at the time of writing this article, Jan, 2023). But despite that, the developers are active and if you have any problems, they are very helpful on their Discord server.

The security is provided by an open-source code that is available online. Credibility is provided by the fact that the team behind the wallet is the same as the DeBank portfolio tracker.

Even so, I would still be conservative when putting large amounts of money into the wallet. As I mentioned above, the wallet does not have many users yet and the whole project is in its infancy. The developers are doing a great job and working on a lot of new features. Hopefully, they will keep it up and Rabby will become as trustworthy and popular as MetaMask.