Amazon Introduces Coins, A New Virtual Currency

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Amazon has announced its own virtual currency, appropriately dubbed Coins.

\"AmazonAccording to Amazon, it hopes to make Coins an easy way to make quick purchases on the Kindle Fire, while also giving users a discount. If Coins are purchased in bulk, customers can get up to 10% off. Coins can be spent on apps, in-app purchases, and games; developers will receive 70% revenue from each purchase.

As an introductory incentive, the company has given all registered Kindle Fire owners 500 coins for free, or $5 worth.

As for the future of Amazon Coins, the Vice President of Apps and Games for Amazon, Mike George, states Amazon will \”continue to add more ways to earn and spend Coins on a wider range of content and activities — today is day one for coins.\”

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