“Coin” is a new device that completely removes the need for a wallet; and it seems like it will do a fantastic job. It acts just like a credit/debit/gift/membership card but can store up to 8 of those cards into one sleek design. Rather than carrying around a thick, uncomfortable wallet with a bigillion number of cards, you can simply use Coin’s mobile app to input cards to 1 Coin.
You can swipe the Coin just like any other card. It works at ATMs. You can configure the length of time before Coin deactivates itself (to prevent theft). Since Coin is synced to your account, losing your phone won’t affect your card. You will be able to pair your card to your phone again.
So what happens if you’re at a restaurant, getting ready to pay the bill, and after you hand the waiter your card they switch the payment method and drain your bank account? Don’t worry; Coin has you covered.
Q. How does the ‘auto-lock’ feature work?
A. The purpose of the auto-lock feature is to allow a Coin to remain swipeable once you have selected a card, but to prevent someone else from either accidentally or intentionally changing the card that is selected. If enabled, as soon as your Coin leaves your phone’s side, the feature will automatically trigger. Once your Coin and your phone are nearby one and other again, the button on the device will be re-enabled so that you can select a card.
Also, this card uses 128-bit or 256-bit encryption for all storage and communication (http and bluetooth) helping to keep your peace of mind.
Coin is currently priced at $100 but if you’re anxious you can pre-order your Coin for $50 (+ $5 for shipping).