Amazon launches its own virtual currency called Coins and gives 'tens of millions' away for free to US Kindle owners

[Cincinnatus]

Story summary:

"One Amazon Coin is worth one US penny

Coins can be bought in batches of 1000 and Kindle Users have been given 500 Coins for free

Plans to launch Coins in the UK and for non-Kindle users have not yet been announced"

Amazon has launched its own currency called Amazon Coins.


It's currently only available in the States for Kindle Fire owners, but the Coins can be used to pay for games, apps and in-app purchases from the Amazon Appstore.

One Amazon Coin is worth one US penny, and Kindle Fire owners are getting 500 Coins ($5) for free as part of the launch. 

The Coins will also be able to be used on the company's retail site when they become more widely available.

Amazon has not yet confirmed when the scheme will be launched outside of the US, or if it will be available to non-Kindle users.

Amazon Coins can be bought in batches of 1000, 2500, 5000 and 10,000.

The more you buy, the bigger the discount and 10,000 Coins costs $90, for example.

Customers will also get a 10% discount on items bought using Amazon Coins.

http://www.dailymail.co.uk/sciencetech/article-2324188/Amazon-launches-virtual-currency-called-Coins-gives-tens-millions-away-free-US-Kindle-owners.html

[Oceander]

A few more large e-tailers, and we'll have a bona-fide alternative monetary system.