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Wallet burn expenses

riyaz saif (40 Points)

08 December 2022

please explain what is wallet burn expenses in online medicine trading business

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Mitali (Finance Professional) (11046 Points)
Replied 09 December 2022

A wallet burn expense is a term used to describe the process of intentionally reducing the value of a company's digital wallet. This is often done as a way to control expenses and reduce the overall cost of running a business. In the context of an online medicine trading business, a wallet burn expense could refer to the process of using funds from the company's digital wallet to pay for expenses related to the buying and selling of medicine online. These expenses could include things like website hosting fees, payment processing fees, and marketing costs. The goal of a wallet burn expense in this context would be to reduce the overall cost of running the online medicine trading business and improve its financial performance.