Any e-books you purchase at Amazon will always be available to download to any Kindle device or app that you own now or in the future.
Whispersync is Amazon's name for synchronizing the last page read between multiple Kindle devices or apps. If Whispersync is turned on you can be reading on your Kindle at home and when out and about you decide to continue reading using your iPhone Kindle app you will be on the same page as you left off on your Kindle. You have to leave on Whispernet on your Kindle for this to be possible.
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