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Yes, you are right, cryptocurrencies by their nature do not disappear. Coin burning, as the name suggests, is the process of deliberately "burning" or eliminating coins from circulation, rendering them useless. Most often, this is already written in advance in the smart contract. The whole process is done by sending some of the coins to an "eater address", which is often referred to as a "black hole", the private keys to this address are not available to anyone. Therefore, any coins sent to the eater's address are non-recoverable and cannot be reused. These coins are thus withdrawn from circulation and are publicly registered and verified on the blockchain.
There are many reasons why burning coins is a good idea. For example, a larger and more efficient consensus mechanism. This applies to coins that adopt Proof-of-Burn (POB) as a consensus mechanism. POB is a unique way to achieve consensus in a distributed network, requiring participants, miners and users to burn part of the coins. Another reason is to increase the value of the token. The law of supply and demand works well here. Reducing the supply should (although not always), but increase the demand is the so-called. deflation system. Coin burning acts as a natural defense against DDOS (Distributed Denial of Service Attack) and prevents spam from clogging the network. In the same way that users pay a small fee to send Bitcoin (BTC) or pay gas for smart contract calculations on the Ethereum blockchain, burning coins generates transaction costs. Instead of paying miners to verify transactions, some projects have integrated a burn mechanism where part of the amount sent is automatically burned. Another type of smoking is implemented as an economic policy or project program. It is not integrated into the protocol layer or code base of the project. It can be a one-off event or a recurring event.
Some ICO projects that did not reach their 'harvest' in the fundraising and are left with unsold tokens may destroy them. Instead of keeping the tokens for future use, the project chooses to voluntarily burn the excess coins to redistribute the value back to their holders. These projects tend to improve their image in the community and this underscores the team's commitment to ensuring the project's long-term success.
We still have projects that have generated profits from their operations, such as Binance, which charges transaction fees from users and could also use their profits to buy back native tokens from the public and destroy these coins as a form of "dividend payment" that adds value to holders coins. I will add that these cryptocurrency projects by burning tokens will thus avoid securities regulations. The form of payments, even in the form of dividends in a native token, would require the same regulatory supervision by the authorities as, for example, shares.

Burning tokens consists in permanently removing existing cryptocurrencies from circulation

The practice of firing is common in the industry and is quite simple. Burning tokens is a deliberate action taken by developers to "burn" - or withdraw from circulation - a certain number of available tokens. There are several reasons to burn tokens in this way, but generally the move is intended to cause deflation. While larger blockchains like Bitcoin and Ethereum typically don't use this mechanism, burnup is often used by altcoins and less popular projects to control the number of coins in circulation, which can provide more incentive for investors.

The burn mechanism is unique to cryptocurrencies as regular fiat currencies are not "burned". The flow of available FIAT currencies is regulated in a different way. Burning tokens is a process similar to the buyout of shares by public corporations, which in this way reduces the number of available shares.

The practice of burning is common in the industry and is quite simple. Burning tokens is a deliberate action taken by the creators of the coin in order to "burn" - or withdraw from circulation - a certain number of all available tokens. There are several reasons to burn tokens in this way, but generally the move is aimed at deflation. While larger blockchains such as Bitcoin and Ethereum typically don't use this mechanism, burning is often used by altcoins and smaller tokens to control the number in circulation, creating more incentive for investors.

The burn mechanism is unique to cryptocurrencies in that regular fiat currencies are not "burned", although the flow of available currency is regulated in a different way. Token burning is similar to the notion of stock buyouts by public corporations that reduce the amount of stock available. Still, token burning has several unique uses and serves different purposes.