Amazon Coins virtual currency now available on Kindle Fire

Amazon Coins virtual currency now available on Kindle Fire

Amazon has thrown a handful of its online coins at its US customers. The bookseller has handed 500 "Amazon Coins" to each of its Kindle Fire customers. 500 coins are worth $5 and can be used to buy apps and games and also virtual items within games used on the ereader. To further tempt Kindle punters Amazon is offering ten per cent discounts on future coin purchases. Although US only for now we would expect the system to be offered elsewhere in the world soon. The Coins, for now at least, appear more like a loyalty card system than a fully-fledged currency. We assume Amazon hopes to boost....

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The Bitcoin protocol has immense intrinsic value as a self-regulating frictionless payment network affordable to almost anyone. Here is a technology that allows anyone to send any amount of money to anyone else in the world at virtually no cost with nothing more than an Internet connection or smart phone. Bitcoin, like the Internet, is one of those innovations that can break down barriers; information barriers in the case of the Internet, and financial barriers with Bitcoin.

Dan Roseman, Financial Professional