If you have browsed the Amazon App Store lately you may have noticed mention of Amazon Coins, the new digital currency from Amazon which will let you save up to 10% on app and game purchases.
The basic idea is that the more coins you buy, the bigger discount you get – which is great if you spend a lot of money on the Amazon app store. These coins can be used for apps, games and in-app items but could be expanded to other products at a later date.
How Much Do Amazon Coins Cost?
Below we can see the amounts of coins you can purchase and the discount you receive.
Why Make a New Currency
With the advent of bitcoin we have seen many spin off currencies, some being serious and others not so much (doge coin :P) so Amazon might as well get in on the crypto action!
Make More Money
With customers buying currency that can only be used on Amazon – Amazon stands to profit from having less standard transactions which they may have to pay fee’s on and more people having to spend their money on Amazon because it’s the only place that accepts Amazon Coins (Itchy & Scratchy money on the Simpsons).
Free 500 Amazon Coins for Kindle Fire Owners!
As a promotion, Amazon have offered a free 500 coins ($5 value) for U.S. kindle fire owners which is a nice offer but obviously a ploy by Amazon to get people used to the idea of Amazon Coins.
What do you think of Amazon coins? Do you think this is the future for online purchases and will we see more keep corporations creating their own currencies?