Get ready for Amazon Coins. Amazon has announced their own type of currency that is equal to one penny. According to the Daily Mail, Kindle Fire owners are getting 500 free Coins as part of the launch.

It's currently only available in the States for Kindle Fire owners, but the Coins can be used to pay for games, apps and in-app purchases from the Amazon Appstore. 

One Amazon Coin is worth one US penny, and Kindle Fire owners are getting 500 Coins ($5) for free as part of the launch.  

Amazon Coins can be bought in batches of 1000, 2500, 5000 and 10,000. 

The more you buy, the bigger the discount and 10,000 Coins costs $90, for example.

Customers will also get a 10% discount on items bought using Amazon Coins.

Amazon isn't the first company to introduce it's own currency; Microsoft Xbox and Windows Live customers can use Microsoft Points to pay for games, upgrades, bonus levels and so on. 

Customers may like the new Coin system since they can buy and store the Coins online. Plus parents can monitor what their kids do and spend.