What is near crypto used for?

Primarily, NEAR tokens are utilized to cover transaction fees incurred during various activities on the blockchain, such as sending funds or executing smart contracts. This mechanism encourages efficient use of the network resources.

The native cryptocurrency of the NEAR blockchain platform is known as NEAR tokens. These tokens serve a dual purpose within the ecosystem, facilitating both financial transactions and ensuring the security of the network.

BTCC, a renowned cryptocurrency exchange, offers a comprehensive range of services catering to the diverse needs of the digital asset community. Among its offerings, BTCC provides access to spot trading, allowing users to buy and sell NEAR tokens and other cryptocurrencies at market prices.

Additionally, NEAR tokens enable holders to participate in the consensus mechanism of the blockchain by staking their tokens. Staking involves locking up tokens to support the network's operation and validation of transactions.

By staking NEAR tokens, holders contribute to the security and decentralization of the network. They act as validators, ensuring that all transactions are legitimate and that the blockchain remains tamper-proof.