Coin features expand as funding goal met in 40 minutes

Nov 20, 2013
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Coin features expand as funding goal met in 40 minutes

There's a few more pointed features appearing in the digital credit card known as Coin this week, these being shown in conjunction with a note that their initial crowd-funding goal had been met in just 40 minutes, right out the gate. Coin suggests that their funding campaign began at a cool $50,000 and was met in just under 40 minutes, making this campaign one well on its way to crowd-funding history - we'll see at the end of the funding timeframe, of course.

With Coin, users found themselves asking a bevy of questions as the machine was first shown off last week with a simple YouTube video (also shown below). SlashGear was right on top of the company earlier this week with a chat with the CEO and founder of the company with some questions of our own - answers to several of these questions being part of this release as such.

There is now a rather massive FAQ section available for curious future users of Coin as well as a new list of features not before revealed to the public springing up today. As the Coin crew details, this card will attempt to hedge all concerns from all angles:

- Coin has an alarm, that remembers how many times your Coin is being swiped, and will alert you via the app if it is being swiped fraudulently when out of your hands.

- Coin can work without being tied to a phone.

- Coin can lock for one particular card so it can’t be changed to a different card by a merchant or waiter for example.

Several of the questions we'd had earlier this week ended up being answered by Coin today as well. Have a peek at a few examples of answers on the device here.

Q: What if someone accidentally toggles my Coin, and pays with the wrong card?

A: Coin designed the button to toggle cards in a way that makes it difficult to trigger a "press" unintentionally. Dropping a Coin, holding a Coin, sitting on a Coin, or putting the Coin in a check presenter at a restaurant will not inadvertently toggle the card that is selected. Also, the mobile app will allow you to configure an auto-lock feature that will disable the Coin button to toggle based on proximity.

Q: What If I lose my Coin?

A: Coin send you a push notification alerting you if you leave your Coin behind and locks automatically if you go too far away, making it unusable if anyone tries to pay with it.

Q: How secure is my data in the Coin App?

A: The Coin app is password protected and is 128-bit/256-bit encrypted for all storage and communication with its easy-to-use consumer app to ensure the safety of your identity.

Sound alright to you? Stay tuned as this card continues its initial run at $50 USD and watch the countdown towards regular sale. Once the next 23-or-so days are up, the card will begin to cost you $100 USD. The coin card is expected to ship in its first batch in the Summer of 2014, so you'll have some time to ponder.


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