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Amazon Announces Virtual Currency, Amazon Coins

The bitcoin logo

The bitcoin logo (Photo credit: Wikipedia)

Amazon Announces Virtual Currency, Amazon Coins

Earlier this week, Amazon announced their new service, Amazon Coins, which is a virtual currency used to buy apps, games and other in-app purchases. 

They kicked off the launch by giving all Kindle Fire owners $5 worth of Coins, equal to 500 coins.  Users can buy more Coins, and they can save up to 10 percent for buying high quantities at a time. 

Amazon is adding top apps for users to buy with their virtual currency, and they are adding more all the time.  Now, Kindle Fire users have many of the same great apps that Android tablets and iPads have. 

Before, users had to use a credit card to buy apps, but now they can easily buy Coins to make their purchases. The currency does not have any fees, and the Coins do not expire.  

Many companies use virtual currency, including Facebook and Microsoft.  BitCoin, a peer-to-peer virtual currency, allows users to send money to other users instead of simply using them for games and apps. 

Amazon is introducing a new currency system when others are slowly phasing theirs out.  Facebook is going to get rid of Credits and allow users to use their own currency to purchase items on the site and in apps.  Microsoft announced that they will no longer offer Microsoft Points when Windows 8 comes out. 

Last January, before Amazon Coin was introduced, Amazon announced that they will extend their in-app purchases to other Android tablets and phones so users are not limited to the Kindle Fire.  The virtual currency will also include Internet games, PCs and Mac computers.

Amazon Coins: A New Way to Purchase Kindle Fire Apps