Amazon coin is not a comprehensive virtual currency, but it seemed like Amazon is testing the water to release a full-fledged universal cryptocurrency. There are two recent activities to back this speculation. Firstly, an online magazine named Domain Name Wire revealed two years ago that Amazon brought domain names associated with cryptocurrency named amazonethereum.com, amazoncryptocurrency.com, and amazoncryptocurrencies.com. You can say that they might be protecting their brand name, given the fact that Jeff Bezos see trust as the most valuable asset. The second reason is the presence of Amazon coin, released in 2013 has spiked the speculation of amazon foray into the cryptocurrency. Is Amazon coin, a type of virtual currency, the next big thing? The future can only answer that mysterious question. Here I would like to give you some useful information about Amazon Coins.
What are Amazon Coins?
Amazon coin is a type of virtual currency that can be used to buy apps, games and in-game apps. You can buy Amazon coins with credit or debit card from amazon.com or amazon underground. The amazon underground is an online app store. Unlike Google app store where you can only buy apps, using amazon underground you can purchase both apps as well as other online products. Moreover, most of the paid apps at play store are available for free of cost at Amazon underground. And you can buy the Amazon coins from this app. Similar to other launchpad platforms such as LaunchX, BSC, Trustpad, and others Amazon coin is built on the Amazon Managed Blockchain.
How to install Amazon Underground?
If you don’t have amazon underground installed on your mobile, you could install from this link https://www.amazon.com/underground. The app won’t get installed on to your phone unless you are switching on the unknown sources. A pop-up message will guide you to the setting, if not, go to Settings → Security → Unknown sources to allow installation of apps from sources other than the play store.
How to get Amazon Coins?
After this, you could buy the Amazon coins by using any central currency. Since the value of one coin is equal to one cent, you can calculate the price quite quickly. If you pay one dollar, you will receive 100 coins. Most of the time rates are discounted so that you can buy more than 100 coins. After installing the coins, you are all set to buy, games and apps. Rather than paying directly, using the central currency you could use Amazon coins for buying the paid apps. By doing so, you could cease huge discount deal. Since Amazon offers a huge amount as a discount for coins. Purchasing games using coins can earn you reasonable profit. There were times when you could make approximately 9 dollars per purchase. Some times the price of the Amazon coin alone can go down so you will get enormous profit. Now there are different updates for making dollars with cryptocurrency. Explore Bitcoin Prime to know how you can deal with the recent trends of crypto trading and how you can earn profit with bitcoin.
Why are Amazon Coins not a full-fledged virtual currency?
Presently the amazon coins that you earned cannot be redeemed using any central currency, neither it could be transferred nor shared with others. However, the things you are buying with the coins can be gifted to anyone. Moreover, you can barely buy everything using the coins, your options are limited to selected products. From this, we can understand that Amazon hasn’t yet ready to make this as full-fledged crypto instead now it acts as a promotional package for kindle fire and other Android devices. When you purchase a kindle fire, you will earn 50$ worth of coins which could be splurged to any apps or games and in-app items. Most of the paid apps in play store are available in the underground app store. Although underground is a compilation of both apps and other Amazon products, the things that you could purchase out of amazon coins is limited to just the apps, games and in-app items.
If you are an Amazon kindle fire 1st generation user, although you may not necessarily get the notification, you are eligible to use the application. In case you lose track of the balance you can check your balance from the Amazon store. You should keep in your mind that Amazon coin is not a lifelong treasure; rather its value expires within one year.
How to get Amazon Coins for free of cost?
You can also earn free promotional coins by downloading free apps from the Amazon store. Usage of that apps and games will earns you free amazon coins. Even when you buy a paid app, you will get free loyalty coins.
Pros
- You can buy many paid apps that are available for a reasonable price.
- You can keep small impulse purchases off your credit card.
- You will receive emails stating the accuracy of buy, which has been overlooked in credit card bills.
- Sometimes Amazon splurges almost 25% discount for a bundle of 10000 coins which can earn you enormous profits.
- Initial purchases are a hassle for many people, but in case you’re stumbling over your buy, please don’t hesitate to make a call to Amazon support. They would set things straight right away (chat support may take a bit more time than phone support).
- Once you began your journey, Amazon coin is convenient and easy to use.
- Every dollar you spend you’ll receive a cent worth of loyalty coin.
- Although Amazon charges tax Amazon is more profitable than Google when you are purchasing games in bulk.
Cons
- You can’t pay half coins and half cash. For instance, you purchase a game worth of 300 cents, even if you have 270 coins you can’t use the coins, for your buy you have to pay either in coins or in cash. So you always end up having a fraction of coins in your kitty.
- Once you got 10000 coins for 25% discount doesn’t mean that deal is going to stay forever, the next time you search for the deal, it could be 17 per cent discount, and the discount rate doesn’t remain consistent. You know that Amazon is tracking your buying habits, so they know that when are going to buy that deal and they deftly hide the discount. If you hold for some time you can see the return of that deal.
- A reasonable discount does not guarantee you a full amount because Amazon also deducts tax from your discount.
- After purchasing you may need to wait for sometimes because the Amazon coin doesn’t show up immediately. So you have to plan in prior otherwise you may end up over purchasing.
- When you are purchasing a massive deal like 50000 or 10000, the Amazon may flag your account, when you call the customer care they always say that they are doing this to keep the hackers at bay. At the end, they will make everything alright. But for customers, this is an unnecessary inconvenience.
In spite of many limitations, Amazon Coins are a relief for many game freaks, who dabbles with the latest games.