Amazon US has just launched its own virtual currency, ‘Amazon Coins’, customers will be able to pay for apps on its Amazon Appstore for Android, as well as some in-app items. Starting in the US Kindle Fire customers are the first to get their hands on Amazon Coins, as the company is giving all of them $5-worth of the currency, or 500 coins. But anyone can head to the Amazon Coins page and purchase Coins for themselves. Amazon UK and other regions for that matter will see the roll out over the coming weeks and months.
Amazon is offering an accelerating discount, up to 10 percent for $100 spent on coins, for customers who convert US dollars in bulk into Coins. There are several reasons why launching such a new exchange medium may be to the company’s advantage. But many companies have tried their hand at proprietary virtual currencies in the past — from Facebook Credits to Microsoft Points — and none have really taken off in any big way, especially compared to the decentralized virtual currency du jour, Bitcoin. In order to succeed whether others have fallen short, Amazon needs to convince customers that Coins are at least as easy as paying with real money, and it seems unlikely that a bulk discount is enough to do that.
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Been involved in technology for many years, more than I care to remember. Live in Dundee, Scotland. I like Android, Windows Phone OS, BlackBerry OS and iOS, and love writing about all things techie. Currently have a Honor 6+, Elephone P6000, Nexus 5, Chrombook C720, HTC One M7, Nokia Lumina 625, Microsoft Lumia 435, Blackberry Q10, HTC Hero and iPad mini
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