An Amazon Coin? Amazon.com Registers Cryptocurrency Domains

An Amazon Coin? Amazon.com Registers Cryptocurrency Domains
October 12, 2017 No Comments Amazon Coin,Business Jess Mavencoff

E-commerce giant, Amazon, has recently announced their own digital currency to the market – Amazon Coins. This is created specifically for Kindle Fire owners. Using Amazon Coins, you can buy coins in bulk and get discounts of as much as 15% of the digital currency. You can buy coins at Amazon.com with real currency and use it to purchase games and multitude of in-app purchases. In addition, you also get promotional coins whenever you make in-app purchases. You can check out Amazon for the list of games that will automatically give you 30% of coins back when making in-app purchases.

Amazon Coins For In-App Purchases on Kindle Fire

The current value of Amazon Coins is at 100 coins for $1. This makes it very easy to do the math. For instance, with $5 you will get 500 coins, $10 for 1,000 coins, and $100 for 10,000 coins which you can use to buy apps and games in the Amazon App Store. You can use it to buy Microsoft point or an ITunes gift card.

Amazon coins is also compatible with any platforms or devices that you use to access your Amazon account such as on a Fire tablet, the Web, or on any Android phone and tablets that has the Amazon Appstore installed.

What’s great about Amazon coins is that it doesn’t expire; however, the promotional coins that you get whenever you purchase specific items are bound to expire in 12 months after receiving them. More so, Amazon coins are used solely to cover an entire purchase which means you cannot use these coins to purchase a percentage of the purchase or the transaction won’t be successful.

3 Cryptocurrency-Related Domains Registered Under Amazon

Amazon has also recently registered three domain names that are related to cryptocurrency which sparked some speculations that the retail giant is looking to crawl into the cryptocurrency space. The three domains are the following: amazoncryptocurrency.com, amazonethereum.com, and amazoncryptocurrencies.com. This news was first reported by Domain Name Wire.

Amazon Pay’s VP Patrick Gauthier however pacified these rumors when he told CNBC that Amazon does not have any plans to accept any form of cryptocurrency because there is not much demand as of now and the registration of these domain names may be a move to protect its brand name. After the news of Amazon registering these domain names broke out Wednesday, a certain Bryon Wiebe registered amazonripple.com. This further strengthens their claim that Amazon only decided to register these cryptocurrency-related domains to discourage or inhibit people from registering their brand name which is a copyright infringement of their company trademark.

There have been rumors circulating that the cloud and retail giant, Amazon, will eventually accept cryptocurrencies like bitcoin as payment but the company has never acknowledged this assumption in any reports. This has also affected the price of bitcoin which is good news to traders as it went up because of the news breakout. According to Coindesk, Amazon has registered a cryptocurrency domain three years ago or in 2013 with the name amazonbitcoin.com which will now take you straight to the Amazon website.

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