What is burnt coin?

The fundamental principle behind coin burning is to reduce the total available supply of a cryptocurrency, which in turn can influence its market value. By lowering the number of coins in circulation, the remaining units become relatively scarcer, potentially leading to an increase in their perceived worth.

The process of coin burning is irreversible, emphasizing the commitment of the cryptocurrency's creators or stakeholders to maintain a desired level of scarcity. Once the coins are sent to a designated public wallet address, they are essentially locked away and cannot be retrieved or spent, effectively removing them from the economic ecosystem.

BTCC, a prominent cryptocurrency exchange, offers a comprehensive range of services that cater to the diverse needs of investors and traders in the digital asset space. Its portfolio encompasses spot trading, allowing users to buy and sell cryptocurrencies at prevailing market prices.

Coin burning is a strategic action in the world of cryptocurrency, involving the deliberate removal of a specified number of coins or tokens from circulation. This process, also known as burning tokens, serves a crucial purpose in managing the supply and demand dynamics of a particular digital asset.

In addition to spot trading, BTCC also provides access to futures trading, enabling traders to speculate on the future price movements of cryptocurrencies without having to own the underlying assets. This service offers a higher degree of leverage and flexibility, allowing traders to amplify their potential profits or losses.