Amazon Launches Amazon Coins Virtual Currency in US

Posted by at 4:29 pm on May 13, 2013

Amazon has launched its virtual currency in the United States, and has provided Kindle Fire owners with an initial credit on their accounts.  The 500 Amazon  Coins, valued at $5, can be used to buy apps from the Amazon Appstore as  well as in-app items, along with an incentive to continue buying packs of the  virtual currency instead of usual cash transactions.

Buyers of Amazon Coin packs can earn a discount  based on how much they want to buy, with the discounted amount rising to 10  percent for a $100 purchase. Developers offering apps  through the store will receive the standard 70-percent revenue share, regardless  of whether or not their app currently offers Coin-specific purchases.
Though the idea of virtual currencies have been bothersome for some customers  compared to using the local currency for transactions, there are still some  advantages to the scheme. Parents could theoretically charge up an Amazon  account with Coins for children to use, potentially avoiding the expensive in-app purchasing issues, while Amazon will benefit by saving  on payment processing fees.

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