Amazon launches virtual currency Coins


Amazon has just debuted its own virtual currency, Amazon Coins, allowing customers to pay for apps on its Amazon Appstore for Android, as well as some in-app items. Kindle Fire customers in the US are the first to get their hands on Amazon Coins, as the company is giving all of them $ 5-worth of the currency, or 500 coins. The e-commerce giant is touting the virtual money as an easier way to pay for things on its Appstore, and there are several reasons why launching such a new exchange medium may be to the company’s advantage. At the very least, it poses a new, more centralized challenge to the popular virtual currency du jour, Bitcoin.

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