In some names on rune stones, such as the name of the carver of the runes, bind runes may have been ornamental and used to highlight the name. Such as the name Hadda is written with a ligatured double ᛞ (dd) on the Derbyshire bone plate.
Bindrunes are also seen as space savers. When carving on a set sized stone, the carver may run short on stone to carve on. So some runes shared a stem, bindrune, to fit things in.
Bindrunes today can be used as talismans with a particular objective such as improved health, financial success, harmony, love, help, personal protection, safety and security of your home and personal possessions, etc...
They are also seen in the modern business world. The Bluetooth logo merges the runes analogous to the modern Latin alphabet letters h and b; j (Hagall) and b (Berkanan) together, forming a bind rune. The two letters form the initials 'H B', alluding to the Danish king and viking raider Harald Bluetooth.
"Aegishjalmur" ("helm of awe"), or the "Vegvisir" (runic compass). These are very ancient charms and totally benign to the bearer. Algiz (Elhaz) is the primary rune in use in both. The Aegishjalmur's purpose is 'protection and irresistibility in battle'.
Bjôrk's Vegvisir compass. Vegvisir means "direction sign" or "see the way". This charm helps prevent one from getting lost. It is a "brun rune" or sea charm.