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Amazon unveils new virtual currency "Amazon Coin" for Kindle Fire customers

Amazon Coins is a virtual currency for Kindle Fire customers, real money not good enough.

@CharlesJGantt
Published Tue, Feb 5 2013 11:39 AM CST   |   Updated Tue, Nov 3 2020 12:24 PM CST

The virtual currency game has been played many times by many companies trying to seek a new form of payment. In the end, they all seem to fizzle then pop, resulting in a failed product. Amazon is seeking to buck that trend and has created a virtual currency of its own.

Amazon unveils new virtual currency Amazon Coin for Kindle Fire customers | TweakTown.com

Dubbed Amazon Coin, the new virtual currency is being billed by Amazon as an "easy way for Kindle Fire customers to spend money on developers' apps in the Amazon Appstore." Amazon will release the new currency in May and give Kindle Fire users "tens of millions of dollars' worth of free Amazon Coins to spend on developers' apps.

Unlike other virtual currency services, current Amazon App developers will not need to do anything to begin accepting the coins. Apps in development that have yet gained approval will need to get approved by April 25th to be ready when the new currency launches.

NEWS SOURCE:mashable.com

A web developer by day, Charles comes to TweakTown after a short break from the Tech Journalism world. Formerly the Editor in Chief at TheBestCaseScenario, he now writes Maker and DIY content. Charles is a self proclaimed Maker of Things and is a major supporter of the Maker movement. In his free time, Charles likes to build just about anything, with past projects ranging from custom PC cooling control systems to 3D printers. Other expensive addictions include Photography, Astronomy and Home Automation.

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