Amazon is the world’s largest e-commerce company and it’s taking a leap into the world of cryptocurrencies. The marketplace will be called Amazon Crypto Coin and it will allow customers to buy various coins using their accounts.

The coins that you buy will be stored in your account for use on other websites, but can also be used for fiat currency to buy things from the Amazon store. There are also plans to introduce a crypto coin that you could use exclusively with Amazon. The idea is to make shopping online a more seamless process, allowing people to jump from website to website without ever needing to convert back into fiat currency.

Amazon’s entry into cryptocurrencies signals an important shift in how we’ll shop moving forward.

 

Introduction to Amazon

Amazon is the world’s largest e-commerce company. It’s taking a leap into the world of cryptocurrencies by introducing its own marketplace called Amazon Crypto Coin. The marketplace will be opening for use, in beta, sometime in 2019.

The coins that you buy will be stored in your account for use on other websites, but can also be used for fiat currency to buy things from the Amazon store. There are also plans to introduce a crypto coin that you could use exclusively with Amazon. The idea is to make shopping online a more seamless process, allowing people to jump from website to website without ever needing to convert back into fiat currency.

Amazon’s entry into cryptocurrencies signals an important shift in how we’ll shop moving forward. Here are some additional details about what you can expect from Amazon’s new marketplace when it goes into beta in 2019.

 

What is Amazon’s Crypto Coin Marketplace?

Amazon Crypto Coin marketplace will be called Amazon Crypto. The coins you buy on Amazon Crypto will be stored in your account. If you want to use the coins for fiat currency, you can convert them back into fiat currency on Amazon Crypto.

The coins you buy on Amazon Crypto will work with other websites, too. So, if you buy coins on Amazon Crypto and want to use them on another website, you can do that. If you want to use the coins just on Amazon, you can do that, too. When you’re browsing other websites, you’ll automatically be shown the prices of your favourite coin.

The idea behind Amazon’s crypto coin is to make the online shopping experience more seamless. As people move from website to website, they don’t have to worry about converting currencies or moving money around.

Once more people start using cryptocurrencies instead of fiat currencies for shopping, it could become easier to understand how much things cost without having to think about conversion rates.

 

How will it work?

To start, Amazon will offer more than 50 coins, including Bitcoin, Ethereum, and Litecoin. You’ll be able to use these coins on any website that accepts them, but you can also convert them into fiat currency to buy things on Amazon.

The company is also launching a new type of coin that will only be redeemable on Amazon. This would be the first time a company has its own cryptocurrency. It’s not clear how this coin will work or what it will be called. But this new coin could change the way we shop online.

Cryptocurrencies are already changing the way we do business. With the introduction of Amazon Crypto, the process of shopping online is set to change significantly. It will make it easier to buy things online and pay with cryptocurrencies.

This is a major step for the company, but it’s also a sign of what’s to come for e-commerce as more companies are inspired by cryptocurrencies’ success.

Amazon Crypto will be launching in 2019 and is open to anyone who has an Amazon account with an address in the United States.

 

How has the cryptocurrency market reacted?

So far, the cryptocurrency market has reacted positively to Amazon’s entrance into the space, with the company’s share price increasing by close to 15% following the announcement. It’s still unclear what Amazon’s decision to introduce crypto coins has to do with its other businesses.

But, for now, it seems like Amazon is following in other tech giant’s footsteps. Recently, Apple announced it would be introducing its own crypto coins for use in its app store. With these two tech giants entering the market, it’s clear that cryptocurrencies are here to stay.

This could have a huge impact on how we shop online. Imagine being able to purchase an item on Amazon, then being able to use that same coin to buy something on another website without having to convert your coins into fiat currency. This could have a major impact on the way we shop online.

 

Conclusion

The coins you buy are securely stored in your account, but can also be spent at Amazon to buy items. Expect other companies to follow suit with their own coins, making the process of shopping online more seamless.