Amazon has made it easier for people to buy the things they want from their website by introducing virtual coins. The uber popular ecommerce website now has its own digital currency users can obtain and use to purchase items. To celebrate the occasion, Amazon gave out $5 worth of virtual coins to all Kindle Fire users in the US.

Each coin is worth $0.01. This means that for each dollar, you will get 100 coins. You can purchase the Amazon coins in bulk to enjoy a special discount offered by the website. The discounts run up to 10%. As of now, the use of the Amazon Coins is restricted to US-based users only. Also, they can only use the coins in the Amazon AppStore for purchasing games, apps and related items. The coins have the image of a woman holding a bow on them.

Go Shopping with Amazon Coins

However, there does appear to be a potential chink in the armor. Items that people purchase using the Amazon Coins are liable to tax. This means that if you have $10 worth of the digital currency, you cannot actually buy something priced at $10 as you have to pay tax on it as well. This is one bone of contention people are going to have with the Amazon Coins.

Also, many people have questioned why there was a need to create the coins in the first place. The initial reviews have been mixed to say the least. Yet, Amazon maintains the coins are going to come in very useful in the future. After all, they don’t expire, ever!

 

SOURCE: http://www.guardian.co.uk/technology/2013/may/14/amazon-coins-virtual-currency