Amazon Coin is a digital payment method created by Amazon.com. Currently, the coins can only be used to purchase software for Kindle, Kindle Fire, and Android devices from within an app or from the Amazon Appstore.

HistoryEdit

Amazon introduced Amazon Coins on July 13, 2013 in the United States and gave 500 free coins valued $5/£3 to all users of Kindle Fire devices, who could use the coins to purchase apps, games, and in-app purchases on the Amazon Appstore.[1] However, in 2014, Amazon started allowing all Android users in Germany, the United Kingdom, and the United States to earn, buy, and spend Amazon Coins on the Appstore using Android phones and tablets. Users could also get discounts when they bought the coins in bulk and earn coins through certain apps on the Appstore.[2]

In 2014, with the release of the Fire Phone, Amazon offered app developers 500,000 Amazon Coins for each paid app or app with in-app purchasing developed and optimized for the Fire Phone.[3][4]

Function and valueEdit

Amazon has called Amazon Coins a "virtual currency". However, the Coins operate like other digital gift cards.[5]

One Amazon Coin is worth one cent. However, like many coupons, they cannot be redeemed for cash. However, they can be transferred to another Amazon account.[6]

Purchased Coins do not expire, but some promotional Coins expire just over one year from the date they are acquired.[6]

When a customer buys software with Amazon Coins, the developer is paid in conventional currency.[7]

ReferencesEdit

  1. ^ Flood, Alison (2013-05-14). "Amazon launches Coins virtual currency". The Guardian. ISSN 0261-3077. Retrieved 2019-05-26.
  2. ^ Lance Whitney (February 19, 2014). "Amazon Coins branch out to all Android devices". CNet.
  3. ^ "Appstore Developer Select". amazon.com. Amazon.com Inc. Archived from the original on 2014-07-05. Retrieved 20 June 2014.
  4. ^ "Amazon Coins and Amazon Underground". mustips.com. MUS Tips. Retrieved 2 August 2016.
  5. ^ "Introducing Amazon Coins: A New Virtual Currency for Kindle Fire". Amazon.com. February 4, 2013. Retrieved May 14, 2013.
  6. ^ a b "Amazon Coins Terms and Conditions". Amazon. Retrieved 17 May 2014.
  7. ^ Metz, Rachel (February 5, 2013). "Could Amazon's Virtual Currency Buy You a Coffeemaker Someday? Paying for things in the Amazon Appstore may be just the first step for the online retailer's new virtual currency". MIT Technology Review. Retrieved September 29, 2015.