Amazon Announces Virtual Currency Called Coins To Buy Kindle Fire Apps

Posted Feb 5, 2013 has launched a new currency to help developers get more money from their Amazon Appstore submissions.  The new currency is called Amazon Coins.  Coins let Kindle Fire owners buy apps, games, and in-app purchases on their tablet after it is available starting this May.

The Amazon Coins will be available in the U.S. at first and then it will expand to other countries later.  Initially Amazon Kindle Fire users were only able to pay using a credit card on file.  With Coins, parents will be able to monitor how much their kids are spending.

Developers will not see a change in terms of revenue sharing or extra work needed to adapt their apps to Amazon Coins.  When the currency launches at first, customers will be provided with tens of millins of dollars worth of free Amazon Coins to spend on apps.  One Amazon Coin will be worth one cent so a $1.99 app on the Kindle Fire will cost 199 Amazon Coins.