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There are three currencies in Battlerite: Battle Coins, Tokens and gems.
Battle Coins
Battle coins can be used to buy Silver Chests and possibly future items and services. They can be obtained by leveling up champions and winning games.
Tokens
Tokens can be used to unlock Cosmetic Items and can be obtained by leveling up champions and finding duplicate items in chests.
Gems
Premium currency used to purchase Champions, Chests and Services. They can be obtained by purchasing via the Steam Wallet.