Amazon is launching its own cryptocurrency called Amazon Crypto Coin. This will be Amazon’s first foray into the world of blockchain-based payments, but it’s an industry that Amazon has watched grow for years. As Amazon Coin becomes available to more countries over the next few months, which will be the first to use it? How can you get Amazon Coin? And what does this mean for your shopping experience? Here, are some ways to find out more about Amazon Coin and how it will impact you.

 

What Is Amazon Coin?

The main news here is that Amazon is set to launch Amazon Coin, which it calls Amazon Coins, which could be used for paying for items on its platform. The coins are not really currencies; they are physical pieces of metal that can only be purchased with Amazon Coins and have no value outside the Amazon platform. Amazon Coins will allow users to pay for items in-store in the US and UK before the coins can be transferred to the Amazon Wallet app, but they can also be purchased with cash in participating Amazon Go locations.

In 2017, Amazon hired Werner Vogels, the CEO of the technology company Ubisense, as its senior vice president of delivery innovation, and with that appointment, Amazon has stepped closer to launching its own delivery drone system, called Prime Air.

 

How Will Amazon Coin Impact your Shopping Experience?

Amazon has claimed that Amazon Coin will revolutionize how you pay for goods on the platform. Amazon Coin will be available through the Amazon and Amazon Cash services, where you can buy certain items with Amazon Coins and then use those coins to make purchases on Amazon. With Amazon Coins being ‘obsolete’ they’ll be usable in the same way as Amazon.com gift cards, or other gift cards. With Amazon Coin, you’ll be able to make purchases on the Amazon website and the Amazon app without using a credit or debit card.

How Much Will Amazon Coins Be Worth?

Amazon claims that with Amazon Coins, you’ll be able to make purchases with 2 per cent less buying than using a credit or debit card.

 

Can I Get Amazon Coins?

Amazon Coin has been available in the United States since September and is being rolled out slowly in the UK, Japan, Germany, Spain, France, Canada, and Italy. Over the coming months, you can expect to see it in additional markets.

How do I get Amazon Crypto Coin?

The coin is initially available in three ways.

You can buy Amazon Coins with Amazon Coins to spend in the Amazon App in the US and UK. You can buy Coins on Amazon.com in the US and UK. Amazon is launching the Amazon Coins Virtual Wallet. which is an Amazon Wallet-like service on Amazon.com for the US and UK only, that will make it easy to make Amazon Coin purchases.

 

Conclusion

Amazon Crypto Coin could pave the way for consumers to not only buy products at lower prices but to directly tip the retail giant when they have a good or bad experience. Amazon has no doubt done extensive research into blockchain tech and will be keen to profit from its uptake in the retail space.