Amazon launched its virtual currency, Amazon Coins, giving all U.S. Kindle Fire tablet owners $5 worth of free coins in their Amazon accounts and discounts for purchasing more in bulk.
The Seattle-based online retailer's virtual coins can be used to purchase games, apps and in-app virtual goods on the Kindle Fire tablet and within Amazon's app store.
Customers receive discounts for buying Amazon Coins in bulk. For example, when customers purchase 500 Coins – a $5 value – they spend $4.80. Discounts increase with higher purchases. Consumers can receive 10,000 Coins for $90, which is a 10% discount.
"With discounts of up to 10% when you buy Coins, this is a great way for customers to save money when they buy apps, games and in-app items," says Mike George, vice president of apps and games at Amazon, in a May 13 press release. "We will continue to add more ways to earn and spend Coins on a wider range of content and activities — today is Day One for Coins."
