Gawker’s Valley Wag misses the boat on Coin in a way that screams poor journalism. Why do I say poor journalism? Take this ValleyWag quote: "It’s also inherently riskier than carrying a few cards on you, as one lost Coin means everything is gone at once." Obviously ValleyWay did not even look at Coin’s FAQ or attempt to talk to someone at Coin.
- Coin can alert you in the event that you leave it somewhere.
- Coin will automatically deactivate if it loses contact with your phone for a period of time that you configure in the Coin mobile app.
[Source, Coin’s FAQ]
My response to ValleyWag:
ValleyWag is completely missing the point. Not only is this a great solution to reduce the size of your wallet but it brings great security to your physical financial transactions. Imagine leaving your credit card at a restaurant. We’ve all done it. You know the fear of someone having access to your bank accounts while we rush back to the store, the hassle of being on hold with the credit card company to cancel the card, etc. With Coin, if it detects that it is away from your phone for a set amount of time, the card deactivates until you reactivate it. It becomes a useless piece of plastic! Also if you start to walk away from it, your phone beeps to warn you that the Coin has possibly been left behind. When we hand a card to a waiter, as they walk away from your table they could be texting your credit card number to a friend who could be making large purchases online before you even get to sign your check. With Coin, only the last 4 digits of the credit card number are ever shown so this type of theft becomes impossible.
ValleyWag also misses that this is not just a credit card, it is a programmable swipe card. If I get to my office only to realize I left my door entry card at the house, with Coin, I simply need to load my access card onto Coin from my cell phone and I’m back in the building for the day without having to run back home.
We collect loyalty card after loyalty card then get rid of them by using phone apps that are slow to open and only scan by the cashier half the time slowing down the line behind us. Coin will replace loyalty cards also.
This is a great product that everyone needs.
Read more about Coin at this post: One card to rule them all!
Early adopters buy one now! Pre-orders are half price at $50 instead of $100.
Coin is basically a programmable swipe card. You store all your credit cards, building entry cards, loyalty cards, etc. (anything with a magnetic strip) in your smartphone. The physical Coin card can hold up to 8 cards in its memory. If you need to swap one out, you plug the Coin swipe device (think Square) into the headphones jack of your smartphone, select the card you need, and swipe the Coin and it is now programmed with the correct card.
Imagine leaving your credit card at a restaurant. We’ve all done it. You know the fear of someone having access to your bank accounts while we rush back to the store, the hassle of being on hold with the credit card company to cancel the card, etc. With Coin, if it detects that it is away from your phone for a set amount of time, the card deactivates until you reactivate it. It becomes a useless piece of plastic! Also if you start to walk away from it, your phone beeps to warn you that the Coin has possibly been left behind. When we hand a card to a waiter, they could write down the numbers on the card. With Coin, only the last 4 digits of the credit card number are ever shown.
Coin makes your wallet smaller and your transactions more secure. Buy yours today!.
Disclaimer: I’ve pre-ordered mine. Each of the links to Coin in this post includes my referral link. I receive a $5 credit from Coin for each referral that makes a purchase which means once ten people have purchased through my link, my Coin becomes free. If you are going to purchase one, please do it with one of these links. Thank you!
Right now I’m sitting down with a tax professional to review my past decade’s tax returns. See, I goofed an eon ago and skipped filing taxes. Had I filed, I would have received a substantial refund. Having not filed, Uncle Sam got mad and billed me for a ridiculous amount of money (5 digits). This tax bill has been a pain. If all goes well today, this will finally be put to bed; of course, it will take the IRS 10 or more weeks to finalize the paperwork so the party will have to wait until then. The lesson? ALWAYS file your taxes!
Update: It’s never good when the IRS agent on the phone makes your tax professional slam her fist on the desk and declare "bitch" after hanging up. However, that’s now one motivated tax professional! In short, over the past decade I’ve lost, not owed but lost, tens of thousands of dollars to the IRS. And they want more.
My Uncle Sam does bad things to me. It’s been our secret since 2002.