Majority of Amazon Shoppers Favor Amazon-Created Cryptocurrency

A majority of Amazon shoppers would accept a cryptocurrency created by the retail giant should it decide to come up with its own virtual coin, according to new research by online marketplace LendEDU.

LendEDU surveyed 1,000 shoppers, and 51.7% of them said they would be OK with using an Amazon-created digital coin to pay for their purchases. The idea does not sit well with 21.9% of those polled, who said they would not use an Amazon cryptocurrency, while 26.4% could not decide either way. Among Amazon Prime members, some 58.3% welcomed the possibility of using an Amazon coin.

"The world of virtual currency is a confusing one, so Amazon would proceed with caution. However, the potential for using Amazon-created virtual currency to make purchases on the site even more streamlined is certainly tantalizing."

In the same survey, nearly 45% stated they would use Amazon as their primary account if the online retailer ever forayed into banking services, with 17% saying they trust Amazon more than a bank. Some 38.3% said they trust Amazon “about the same level” as a bank in handling their finances.

Additionally, the survey found that 50.3% of the respondents would consider taking out a personal loan from Amazon, while about 30% would sign up for a mortgage if Amazon offered such a loan facility.

Rumor has it…

"I am certain that Amazon WILL ACCEPT Bitcoin. They have no choice. And this will be the tipping point that will create massive generational wealth unlike we’ve ever seen before."

But speculation that Amazon will start accepting Bitcoin payments was revived in November, when the company bought cryptocurrency-related web domains. Amazon.com’s subsidiary Amazon Technologies purchased three domain names on October 31: “amazoncryptocurrencies.com,” “amazoncryptocurrency.com,” and “amazonethereum.com.”