With the demise of the Euro on the horizon it’s a brave decision from Amazon to launch it’s very own currency.
The new currency is simply named “Coins” and one coin is worth one US penny. Coins are currently only avaible in the United States for owners of the kindle fire but can be used to pay for games, apps and in-app purchases from the Amazon Appstore.
Once readily available, coins will be able to be used on the companies retail site.
Amazon haven’t confirmed when the coins will be launched outside of the US and if they’ll be available to non kindle users but we suspect that it will already be stronger and more reliable than the Euro.
Amazon Coins can be bought in batches of 1000, 2500, 5000 and 10,000 and the more you buy, the bigger the discount. For example 10,000 Coins costs $90, customers will also get a 10% discount on items bought using Amazon Coins.
Of course Amazon isn’t the first company to try and introduce it’s own money; Microsoft XBox purchases have to be made through points which, like coins have to be bought in batches.
Are we the only one suspicious about this? After all,if you want to buy something for 50p and you have to buy £10 worth of “coins”, dear old Amazon are going to be getting a nice little nest egg. That’s clearly how you stay in business in 2013!
As well as being Editor here at The Spin Alley, Rachael is also a freelance journalist and blogger covering lifestyle, travel, culture, entertainment, media and online life for online and print publications.