Amazon introduces virtual coin currency for Kindle Fire app purchases

Amazon has announced the launch of its new virtual currency, Amazon Coins.

The debut doesn’t change anything from a business standpoint, as app developers still receive the 70 per cent revenue cut that’s always been received from any real money purchases.

From a consumer standpoint, the currency can be used by Kindle Fire users for purchasing content on the Amazon Appstore; as well as within the apps themselves – should they carry in-app purchases.

Coins match pennies, with $1 equating to 100 coins, and Amazon has handed out 500 coins free to all Kindle Fire owners in the US.

The virtual currency can of course be purchased on Amazon, and discounts of up to 10 per cent are currently being offered – depending on the size of purchase.

"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," said Mike George, Amazon’s vice president of apps and games.