My Thoughts on Coin

I crave minimalism. So, Coin interests me, but I don’t think it’s for me. Here are some quick thoughts on Coin.

  • If you have more than one credit card, the easiest way to get down to carrying one card is cancel the other ones. I have two active1 cards: a debit card from my bank (which is accepted like a Visa card) and an American Express card which has a yearly cash back bonus (and important: I don’t carry a balance month-to-month, period).
  • If you use Coin and you find yourself at a place that has to imprint the credit card, you’re out of luck. Hope you brought some cash.
  • $100 or even $50 (the pre-launch sale price) seems high for this convenience. Especially if the card has to be replaced every 2 years because it runs on a non-rechargeable battery.
  • I’ll still need to carry my driver’s license; this isn’t for that.
  • I’ll still need to carry my transit card. It has a chip on it, so I don’t think it can be mimicked by Coin.
  • I’ll still need to carry my HID building access security card.

So, even if I were to buy one of these — effectively (at launch sale price) a $25/year (due to the battery lifespan) convenience fee — I’d still need a decent wallet to hold everything. I couldn’t get away with a slim phone card pocket case, for instance.

No, I think the future looks something more like using Passbook or even NFC… so, no physical cards. Bluetooth LTE identification for building access. A federal and state-approved method for presenting your identification through with phone. Maybe then you could just carry one card; one that serves as a backup in case you lose or damage your phone.

  1. I also carry a Simple card right now. I’m looking to switch from Chase, so either the Simple or the Chase debit card will be taken out of rotation depending on whether I switch or not. And I love Simple, but so far they don’t support a joint account very well. 

About

This article was published on November 15, 2013 6:07 PM.

The article previously posted was What Apple Thinks it Knows About You.

The next article is Personal Hold Music.

Many more can be found on the home page or by looking through the archives.

Powered by Movable Type