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Amazon giving $5 in Amazon Coins to each Kindle Fire owner

Amazon introduces Coins, a new virtual currency worth $0.01, gives 500 to Kindle Fire owners

By Trace Hagan | May 13, 2013 04:28 pm CDT

Good news for all the Kindle Fire owners out there. Amazon has deposited $5 in Amazon Coins in your account. All registered owners have received 500 free coins, each valued at $0.01. These Amazon Coins are a new virtual currency started by Amazon, which was first seen in February.

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The money is used much like Microsoft Points or Facebook currency and can be spent on games, apps, and in-app purchases. Amazon is offering bulk-purchase discounts, which will help tempt some people into buying more than they would otherwise. Once you've converted your cash into coins, you're stuck with them.

"We 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," Mike George, VP of games and apps at Amazon.

It's worth noting that other virtual currencies haven't been too successful. Facebook is working on ending Credits and many people dislike Microsoft's use of Points. We'll have to wait and see if Amazon's Coins stay around for the long haul.

Trace Hagan

ABOUT THE AUTHOR - Trace Hagan

Trace is a starving college student studying Computer Science. He has a love of the English language and an addiction for new technology and speculation. When he's not writing, studying, or going to class, he can be found on the soccer pitch, both playing and coaching, or on the mountain snowboarding.

NEWS SOURCE:mashable.com

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