Amazon to Launch Virtual Currency, Named Amazon Coins, in May

Posted on February 5, 2013

Amazon Coin

Amazon has announced plans to launch a virtual currency, called Amazon Coins. Amazon describes the new virtual currency as a way for U.S. shoppers to purchase apps, games and in-app items for the Kindle Fire. The digital currency will launch in May. Amazon is planning to give away millions of dollars worth of coins when Amazon Coins debuts.

Amazon says in a faq for developers that an Amazon Coin will be equivalent to one cent. Amazon says, "One Amazon Coin is worth one cent, so if an app costs $2.99 it will cost 299 Amazon Coins."

Image: Amazon