Coin Beta

Coin — the sort of physical digital that aims to replace all the other cards in your wallet — is now available for backers to claim. (We're one of them.) There are a few caveats, though. One is that while the iOS app will be ready Aug. 28, the Android app won't drop until Sept. 25.

Another caveat — and this one's a biggie — is that backers will need to pick one of two options. The beta route will get you more immediate access to the card and software, but with only 85 percent acceptance guaranteed. That means it might not work 15 percent of the time. You'll also be missing "Left-Behind Alert," which would warn you if you leave the Coin card (and thus all your credit cards attached to it) behind. And it won't be available internationally.

If you opt for the "Gold Standard," you'll see 100 percent reliability, Coin says, along with the left-behind alerts. But you'll have to wait until the Spring of 2015 to get your card.

So if you're a Coin backer, check your mail. And choose wisely.



Reader comments

Coin, the one credit card to rule them all, now available for backers, sort of


I just dont get it. Why the HECK would anyone back anything on these crowd funding site? Nothing comes when, or how it was promised.

Some things do, but when it comes to tech, it's pretty damn rare. I didn't like the sound of Coin to start with, now I'm doubly glad I didn't go for it.

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I back a ton of Kickstarter projects and companies. And a ton of them are exactly what they say. Sometimes the shipping may be delayed, but it's usually just to improve the product. And you don't get charged until they're fully funded.

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Coin didn't use a crowd funding site at all. They just accepted preorders, but I think a lot of tech Kickstarters/Indigogo over-promise features.

The big question about Coin is, who are these 15 percent of merchants/transactions?

It seems very promising.. My main concern is battery life. I mainly used cards and rarely carry cash. If this dies, I can't use Atm or my Amex.. So I will give this a try once any problems are sorted out.

Nexus 4 - CM10.1.3

I carry one credit card that gives cash back. I'm not sure who has that many credit credit cards or why...

I have two bank cards one credit card and a Best Buy card. I just got a gift card, and have a best buy gift card and carry a Cotsco Membership card. If I could alleviate three cards I carry everyday and add two gift cards and one store card that I leave at home, that is awesome and less stuff packed into my wallet.

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The Google Wallet card works everywhere that MasterCard is accepted. Which is just about everywhere.

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Canada keeps credit cards and debit cards seperate, so that is two cards. That being said, we use EMV so Coin doesn't matter here regardless.

Allow me to explain: Check card, Credit Card, Target Card, Kroger card, Barnes and Noble, Dick's Sporting Goods, etc, etc, etc. It's a useful feature to have.

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I know a few people who have reward point collection down to a science. They have numerous credit cards with different reward programs, and use different cards to buy different things, depending on which card gives them the most points for a given type of purchase or store. It varies month to month. It seems like it takes too more effort that it could pay back, but who knows.

Personally, this thing wouldn't do much for me. I only have three cards: a cash-back credit card through my bank, a debit card (which I don't use all that often), and a corporate card for work expenses. Going from three cards down to one isn't worth however much this costs.

That sucks. I'm one of the backers and have been understanding of the delays and such up to this point. But now they're saying we don't get one of the key security features until spring of next year? By then the US should be in the process of moving to chip and pin authentication which would make the Coin useless. I'll wait for my email, but it might be time for me to think about cancelling my pre-order.

Q. Is my Coin going to work after the liability shift date on October 2015?
A. Yes! Because of the acceptance of Chip-and-Signature during the US' EMV transition period, Coin will continue to work.

That is from there website, I am on the pre-order list myself, I like the idea of 1 card, no debit, and a credit card or two

85% acceptance is bad... I wasn't planning on carrying much else. 15% means you cant rely on it. I can picture myself buying something and have no way to pay for it cause they can't get it to scan.

Didn't read the full deal huh? 85% is only if you decide to be in the beta group. Those shipping next year get the whole kit and kaboodle. The problem of course is when I pre-paid ($50, an early one) it said shipping summer 2014. Which obviously is bunk. And instead of saying this, they've said "oh you can get it shipped but without full adoption and one big feature."

Their communication is the biggest issue here. They had to have known the date was going to slip before but chose to couch a date slip in a feature choice, which is bunk.

I'm glad I didn't pull the trigger on this one....I was close multiple times.

Honestly, I don't think the future is too bright for products like these. Especially if the new iPhone gets NFC.

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More late apps for android. Woohoo. Hold the iOS app until the android app is ready. It's that simple.

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I preordered as well. I am fine waiting for a product that works. There is not an alternative today so I say let them ensure the quality is right.

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I preordered one too and I am disappointed on two counts. One the further delay of the device and then their delay on getting the Android app out. I am seriously looking at the Wocket Wallet It is a bit pricey at $149 but runs on a watch battery that you can replace. The Coin has no such option and you have to buy a new one when the old one runs out. Also the Wocket will hold up to 10,000 cards, identities, etc. where the Coin is limited to 10. The more I look at the limitations of the Coin and its delay to the market the more I am questioning my purchase.

I did not get my email yet. So essentially you would be paying money to be a glorified beta tester. Coin's rep is going to take a hit in this. NOT what they promised.

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The main problem here for me is that this is completely contrary to the promise made in last weeks Coin Backers update email. They aren't just breaking a promise made when we purchased Coin but also a promise they made only last week.

Same here, it really threw me when I read the article. I haven't gotten my email yet, so I will read through everything thoroughly when I do

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Coin doesn't have the chip and pin contacts. It won't work at all in Europe, unless the vendor also accepts the old style magnetic swipe, and then they'll want to verify the signature (yes unlike the US they do this in Europe), which Coin doesn't have. It also won't work well in the US after October 2015 when all vendors need to install chip and pin compatible readers (or face liability issues). So I don't get this at all - Coin has a life of just a few months...

It's not a total deal-breaker for me. At least they are giving something. My issue is with the upgrade fee from Beta to "Finished".

In my opinion, they should refund $30 to people who accept the Beta coin, and then let them use that $30 to upgrade to the real one whenever it is released.

That way they still have some revenue, they give a product that is mostly functioning at the time it was promised, you can get a fully functioning one for the price it was promised at when it is available, and you only pay $20 if it is never fully realized.

$50 was OK for getting in on the ground floor of a revolutionary product. $80, not so much. Especially when the thing does absolutely nothing to generate income for you, or even help in any way, and will be dead in 2 years.
It's basically a convenience toy. nothing more. Ok for $50, not OK for $80

This is definitely DOA. Regardless of the (limited) hype, no one is going to accept this. No signature, bank name or any other verification. Just a generic looking "computer" and a "take my word for it". Smartphone payments are the future, not this. It's cool but very misguided.

That was my thought when I first saw it.. No hologram, no signature.. Not even the name and contact of the bank. It screams 'fake' to any half awake cashier.

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I canceled my preorder as well. I was OK with paying $50 to use it for a year until pin and chip hits the market. Since this is summer 2015 it is useless to me.