Coin - One Card To Rule Them All

Coin – One Card To Rule Them All

Coin is the wallet minimalist’s dream come true.  ”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.”

Using a smartphone app and a card reader (provided), you load all your different cards on to your Coin and voila the only other thing you need to carry is your ID.

When I first saw this thing I started salivating.  It’s so smart and slick and the $50 pre-order price vs $100 retail price is super tempting (If you want the details on how it works check out the website, onlycoin.com).  I almost jumped on it right away, but the more I’ve thought about it, the more I’ve realized it probably isn’t for me.  That being said, according to my Facebook feed, at least 5 of my friends have already ordered.

I’m not worried about the security… In fact, the electronic tether that notifies you if you get separated from your Coin is an interesting feature and it deactivates itself if you manage to lose it.

I am worried that at $100 it has only an estimated 2 year battery life (needs to be thrown away and replaced once it dies) and that I don’t need another device I can break, lose, get wet, etc.  Right now my wallet is the only thing I can accidentally drop in water or fall on hard without rendering it useless.  I get that this isn’t a problem for most people, but I know, for me, it is.

Beyond that, I see Coin as a cool technology to bridge the gap until we’re all paying for everything via our smartphones (NFC, bar codes, etc).  As Google Wallet expands and Paypal is being accepted at restaurants we’re headed towards not needing anything more than our phones and an ID (and, if you’re me, 3 extra batteries).

In the meanwhile, check out this top 10 list of minimalist wallets to go along with your Coin.

 



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