Coin, a credit card that holds all other credit cards you might have, is delayed release until 2015’s spring. As all the excitement of both benefactors and fans grew as the release date this year closed in, it was with reluctant pleasure that Joshua Sherman had to apologise to them, removing the $30 fee for beta testing. Despite its disappointing delays, why would you want to make use of Coin?
1. Coin is the Future
Coin is not a credit card, but a digital device that stores all information about your credit and debit card costing around $55 to pre-order. It brings simplicity to the modern wallet because now, you just need a small card-like device to pay for things. It is how the future worlds of endless numbers of science fiction had described every transaction.
Once Coin sorts out its problem with EMVs, it should sail smoothly towards its release. EMV is the new technology introduced by credit card companies that help reduce likelihood of identity theft by requiring customers to provide a passcode for the use of their cards. It is possible Coin’s delay is simply because of the EMV. Once implemented, security of wallets and instant payment ala Bitcoin or even Paypal is now possible.
3. Anonymous Transactions
Once EMV becomes implemented, the transaction of each credit card becomes unique, ensuring anonymity for other users except between the buyer and retailer. It provides better security if Coin can adapt to EMV. Not only do you have a slimmer wallet, but you also have less trouble with identity theft and fraud.