Amazon launches virtual currency for Kindle Fire users

Amazon launches virtual currency for Kindle Fire users

Kindle Fire owners in the US have had 500 new Amazon Coins - worth a total of $5 - deposited into their accounts today to mark the launch of the virtual currency for purchasing apps, games and in-app items.

Amazon says that its new currency is an easy way for Kindle fire users to purchase apps and in-app items, while for developers it's another opportunity to drive traffic and downloads.

Customers can get discounts of up to $10 for purchasing Coins in bulk and Amazon Appstore developers earn their standard 70% revenue share on purchases using the currency, which is to the US dollar, with one Coin equivalent to one US cent.

Mike George, VP, apps and games, Amazon, says: "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."

In June last year, Facebook ditched its Credits virtual currency platform in favour of a system which allows developers to be paid in a local currency of their choosing.

Facebook said the roll-out of Credits had slowed uptake of gaming applications, requiring users to switch in and out of multiple currency options - from US dollars, to Credits and back again to in-game currencies - and adding new layers of friction to the monetisation of developer applications.

Comments: (1)

A Finextra member
A Finextra member 14 May, 2013, 13:28Be the first to give this comment the thumbs up 0 likes

Amazon coins and Bitcoins; isn't it better to make these unofficial and unauthorised digital currencies illegal? What digital currencies are trying to emulate is the anonymity of physical cash, with the convenience of a cashless currency. It is the anonymity that I am concerned about. Provided that there was a national regime of privacy legislation that catered for a cashless society, the potential of criminal anonymity associated with physical cash would be eliminated. With unofficial digital currencies, the possibility of criminal anonymity will rise again. Am I wrong?