Amazon Crypto Coins: Should You Invest?
Crypto coins are now a reality. Recently, the world’s largest retailer, Amazon, announced its own crypto coin, Amazon Coins. With this announcement, they have joined the ranks of other major players in the crypto space. Should you invest? Here are some reasons why it’s possible that Amazon Crypto Coins will be worth your time and money.
Why can Amazon Coins be worth your time and money?
Amazon is on the cutting edge of cryptocurrency innovation. The company’s Crypto Coin is designed to make purchases on the Amazon Marketplace easier.
Amazon Coins are worth $0.01 apiece, so they can be used to purchase apps, games, and in-app purchases of up to $1.00.
The coins can be purchased at a discount with a Kindle Fire HDX tablet, which is $30 cheaper than the regular price.
If you already have a Kindle Fire HDX or plan on buying one soon, then Amazon Coins are worth your consideration. If you don’t, then it may be time to purchase one.
As of now, there are no plans to allow consumers to buy Amazon Coins outside the Kindle Fire marketplace. However, this is a digital coin that can be used in a digital marketplace—the potential for expansion is in the hands of the company.
When Amazon Coins become available for purchase outside of Kindle Fire devices, it could potentially have a major impact on the cryptocurrency markets.
The Big Picture
Amazon’s announcement should have you excited if you are an Amazon investor. Amazon has already built relationships with banks, created a credit card, and is now looking to the future.
Amazon users are about to get a lot more convenience in their lives. Now, Amazon may have the opportunity to be at the forefront of the blockchain revolution.
A little history: Bitcoin was the first cryptocurrency. Bitcoin is a digital currency that is not tied to any country or central bank, and it has become popular because of its ability to provide individuals with a way to bypass banks and credit card companies. Bitcoin users can use Bitcoin to buy anything from pizzas to cars.
The cryptocurrency market has continued to grow, and Amazon understands this opportunity and is looking to cash in on it. Amazon Coins will function like gift cards, but they will also be used as a form of payment on Amazon’s website. This means that Amazon users will be able to buy products with Amazon Coins and not have to use their credit cards or other forms of payment.
It’s not too late for Amazon to make the move into crypto. Jeff Bezos, Amazon’s CEO, has already taken notice of crypto and has voiced his support for it in the past.
Amazon’s newest venture into the crypto space has given us a lot to think about. It’s true that Amazon is one of the most recognizable and trusted brands in the world, and its entrance into the crypto market will certainly be a huge step. It may also mean that Amazon will be accepting cryptocurrencies as a form of payment in the near future.
Should you invest? We don’t know yet. But, we can’t wait to see what Amazon does next!