Coin

The Flip Side Of The Coin

Do you ever get tired of a bulky wallet or money clip full of credit cards, debit cards, gift cards, and membership cards? If so, Coin could be the solution for that headache.

In a nutshell, Coin is an electronic device that can store up to 8 of your cards, and works just like a typical credit card with multiple accounts and information all stored in one place for convenience. According to their website, OnlyCoin.com, you simply follow their instructions for swiping each of your cards into their device, take a picture of the front and back for your use, and voila, you are done and ready to use it. One simple card, and with the push of a button on the Coin, you select the card you wish to use for each individual purchase.

Sounds pretty amazing, right?

The card is not currently available, and the estimated time frame for delivery is expected to be the summer of 2014. There is a charge for the card of $100, but on their website, OnlyCoin.com, you can temporarily pre-order for the low price of $50.

While this all sounds great and our society is all about convenience these days, it is important to consider all the factors before hopping online to place your order. Keep in mind that the card is not yet in production, according to NY Times. The company is using the money from the pre-orders to build the Coin. There is another similar product, Protean Echo, which was announced back in August of 2012. However, CNN revealed that if you visit their website today at GetProtean.com, it still says, “Coming Soon.” So, keep in mind that Coin is still in the Kickstarter stage at this point.

Coin, the company by the same name as their product, have told consumers that the battery inside Coin cannot be replaced. It should last two years, but at that point in time you will have to purchase another card at $100 to replace it. In addition, be diligent in reading their terms of service. They are very clear about their lack of responsibility. There is little to no protection if any type of fraud or identity theft, for example, were to happen.

“You are solely responsible for your own losses or losses incurred by Coin and others due to any unauthorized use of your account.”

Protect yourself and consider the terms when making your decision to choose this product.

Overall, Coin seems like an ideal device in our technical savvy world, and by the time this summer rolls around, we could all be pleasantly surprised by what they have to offer. Just remember there is always a flip side to every coin.

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