Mint and Burn

Burning crypto is the process that effectively takes tokens out of circulation, reducing the total supply of that coin and in some cases increasing demand. The average price per coin usually increases after a large burn. The buying and selling of crypto currency happens by sending crypto from one wallet to another using private keys. To burn crypto, users send crypto to an “eater address” or burn wallet. This wallet only receives tokens and cannot send them. Thus, the tokens are effectively locked up and out of circulation. There are various reasons for burning crypto, such as to protect the coin against spam, to increase the coin’s value or to keep stable coins stable.

Crypto minting basically refers to the process of creating new coins through the verification of data, creation of new blocks, and documentation of the verified information on a blockchain through PoS (proof of stake) consensus.