Apple iPhone 6 design, features and release rumours: LIVE

Feedback

Discounts aplenty as Amazon launches Bitcoin-like virtual currency

BusinessNews
by Alysia Judge
, 22 Nov 2013News
Discounts aplenty as Amazon launches Bitcoin-like virtual currency

Amazon has built a reputation for for easing the stress of online shopping with its 'one-click order', but now the Internet retailer is shaking up cyberspace spending once more with the introduction of its own virtual currency.

With the original title of 'Amazon Coins', customers will be able to use the digital money to purchase apps, games and other content for less than if they were buying using the pound.

The range of products you can spend your Amazon Coins on is limited purely to the digital realm, with books, music and video excluded.

Still, the currency is being sold at a bulk discount, meaning that you can save up to 10 per cent on online purchases compared to real currency. 10,000 Amazon Coins, for example, cost £90. It means that each online coin is worth a penny.

Mike George, vice president of apps and games at Amazon, says that this discount “is a great way for customers to save money when they buy apps, games and in-app items.” He also teased, “We will continue to add more ways to earn and spend coins on a wider range of content and activities,” suggesting that the currency may expand to encompass standard purchases on Amazon.com.

In the meantime, if you’re the proud owner of a UK Kindle Fire, you are also the lucky recipient of 400 free coins, which is the equivalent of £4.

Amazon coins aren't the only digital currency making the headlines, with news this week that Bitcoins have surged in value after a US Senate committee was told that the virtual currency is legitimate by the FBI.

Images courtesy of The Verge and goodereader.

Topics
blog comments powered by Disqus