OnlyCoin

[Cibrd0wn]

Though this was cool! I like anything that will help save me space. Clicky

Some info.

• Q. What is a Coin?
• A. Coin is a connected device that can hold and behave like the cards you already carry. Coin works with your debit cards, credit cards, gift cards, loyalty cards and membership cards. Instead of carrying several cards you carry one Coin. Multiple accounts and information all in one place.
• Q. How do I get my cards onto a Coin?
• A. Our mobile app will allow you to add, manage and sync the cards that you choose to store on your Coin. The process of adding card information to the mobile app is very simple and is done by taking a picture or two and swiping your Coin through a small device we provide you with.
• Q. How much does a Coin cost?
• A. Each Coin costs $100. For you early adopters there is a very limited quantity that can be purchased for $50.
• Q. How do I get my Coin?
• A. You can pre-order a Coin via our website.
• Q. What card details does the Coin display?
• A. The Coin's screen will display the credit/debit card brand (American Express, Discover, MasterCard, and Visa) if applicable, last 4 digits of the card number, expiration date, and CVV/CVC (if applicable).
• Q. Where can I use Coin?
• A. You can use a Coin everywhere cards are accepted including dip-style card readers and ATMs. Use a Coin just like you use your cards now at gas stations, restaurants, the mall, the gym, or other places you frequent.
• Q. Will my Coin work outside the U.S.?
• A. Not in all cases.
  
  U.S.-based customers: Coin will work overseas, but we recommend that you bring a backup card when you travel.

 

[LKLD]

If I was a thief, I would LOVE this!!

 

[Tyler]

You can pre-order for $50 which they charge you immediately. However, the device does not start shipping until summer 2014. Is this their way of raising money to fund it??

 

[Cibrd0wn]

LKLD - As thief you would be disappointed. The COIN connects to your smartphone and alerts you that it is not within a comfortable range and can be deactivated quickly.

Tyler - From what I understand you are correct.

 

[Old Guy]

If I was a thief, I would LOVE this!!

I'm wondering how a thief would use it. If all that information is stored on that little device, how long will it take the scammers to come up with their own reader? It almost seems like it'd be too easy.

 

[HotRodZilla]

Hmmmmm...Maybe one day, but currenntly, I have a debit card and two cards I use for travel. The 16th of an inch they take up is not worth $50. It really isn't worth $100.

The notification when its.forgotten is cool, but the rest I can do without.

 

[Old Guy]

Hmmmmm...Maybe one day, but currenntly, I have a debit card and two cards I use for travel. The 16th of an inch they take up is not worth $50. It really isn't worth $100.
The notification when its.forgotten is cool, but the rest I can do without.

Same here. All I'm seeing so far is the "gadget" value. I carry two credit and one debit card as well. I've got more, but they stay in the safe to limit my exposure.

Maybe it'd make it impossible to use immediately if the phone is not near. And if they can read the card for the numbers with some device, you might at least have time to cancel everything before that's done.

 

[Bounce]

Steve Gibson discussed this in his Security Now podcast.

Audio and transcripts for episode #432 @ https://www.grc.com/securitynow.htm

They do into the detail of how each mag strip is encoded and how such a device (only getting a max success read rate of about 80% so far).

The trade off is that you have to lug around a thicker phone case or a plug in dongle for your phone... either of which is bulkier than the card it's meant to replace.

And it depends on if your cc card company will allow it to work with their system.

Recommendation? Wait for it to take off and actually be supported (and any security weaknesses to be tested) before blowing your money on it. Say 3 to 5 years.