New Bitget Wallet feature helps traders assess token risks
A new risk detection tool allows users to evaluate a token’s burn ratio, centralisation, and permissions before investing.
Bitget Wallet has launched a new feature that enables traders to assess potential risks before investing in tokens. The tool is currently available for six major blockchains. It helps users identify vulnerabilities that may indicate higher trading risks, such as token centralisation or active minting permissions.
The feature, found within the wallet’s candlestick chart interface, provides crucial data on a token’s permission status, distribution among top holders, and burn ratios. These indicators allow traders to assess the risk of manipulation, price dumps, or rug pulls.
For example, a high concentration of tokens in a few wallets can signal manipulation, while a low burn ratio might indicate poor project transparency.
Bitget Wallet’s COO, Alvin Kan, emphasised the importance of providing accessible tools for risk evaluation. It is particularly crucial as decentralised finance continues to grow.
The platform aims to offer users more security and confidence when navigating Web3. The new risk detection feature is part of its broader strategy to enhance transaction safety.
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