Amazon Crypto: New Crypto Token on the Market in 2022

By Aleksandra Wilson
3 min read December 22, 2021
Crypto Digest, Amazon Crypto

The world is already head over heels for cryptocurrency. Rumors about Amazon, the giant in the e-Commerce industry, are most likely going to end up being true. They seem to be almost ready to enter the crypto market. You probably heard something about it in the past few months. However, all indications suggest that Amazon will present its crypto token in 2022.

Amazon is thinking in the same direction as Tesla, exploring the possibility of letting customers use cryptocurrencies for their payments. Although these rumors have been out there, the details remain unclear.

It looks like Amazon is setting up a blockchain – Amazon Managed Blockchain, and at the same time preparing to launch its cryptocurrency. Also, an article published in one tech magazine confirms that the company is looking for a new Head of Digital Currency and Blockchain. More information leads to the same conclusion. Amazon is ready to enter the crypto void.

Amazon, Cryptocurrency

What Does This Mean for Amazon?

The company denied its cryptocurrency ambitions and explained that this is one of their many experiments, and the job postings, like the one mentioned above, mean nothing more than that.

The rumor itself has increased the value of Bitcoin, and at the same time, Amazon shares gained about 1% in New York.

Still, many believe that this is inevitable. They are convinced that Amazon will eventually accept Bitcoin payments and that this turn of events will probably happen by the end of the year. As for the introduction of its crypto coin, it might happen sometime in 2022.

Let’s look at the current trends: other tech giants are doing it, why not Amazon? Competitors like Facebook (Meta) create their blockchain concepts, and Amazon needs to respond. Google’s partnership with Bakkt is clearing the road for crypto payments in the Google Pay app, as well.

The game rules are changing, and Amazon must accept it, like all other prominent players in the industry, or at least prepare everything necessary when conversion to crypto takes place.

When Can We Expect Amazon’s Crypto Token?

Currently, Amazon doesn’t accept Bitcoin or other cryptocurrencies directly as a means of payment. That can change in the near future, possibly in 2022, and customers will have the option to use Amazon Crypto Token for shopping on their platform. It is in the early stage of development, and many things are still unknown.

Many sources are coming to the same conclusion, and that is the acknowledgment of the fact that Amazon’s cryptocurrency is at the final stage of development, and it is arriving in 2022. When exactly, it’s still unknown.

Amazon Crypto, Crypto Digest

Flip Side of the Coin

Amazon is preparing crypto payment with Bitcoin and expanding its complete offer to eight other coins. This project has been under construction since 2019.

One of the concerns that can cross one’s mind is that this could mean too much power in one company’s hands. A company of that magnitude has the capacity to control the market, everything you buy or give, your refunds or loyalty points transferred into crypto money. For now, it is only a hypothesis. The year 2022 will reveal more.   

All of the big tech companies are part of the crypto frenzy. A well-known example is Facebook experimentation with Libra (Diem) that faced so much criticism. Others encounter it will not stop Amazon, and many are impatient to witness Amazon’s crypto future.

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