Coin: One Swipe for All Your Cards

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CoinOne of the latest devices meant to help lighten your wallet is called Coin. CNBC reports that Coin is designed to simplify your wallet by allowing you to load all of your card information onto one device. Coin is the size of a credit card, and works like one, which means you can swipe it like you would any other card.

Using Coin

In order to load Coin, you do need to use the Coin app, which is compatible with a number of smart phones and tablets. This allows you to “upload” your card information to Coin. You can include credit cards, gift cards, and loyalty cards. You can even add your membership cards, so your gym card can easily be swiped with the help of Coin.

When you’re ready to choose a card, there’s a button on Coin’s digital screen that you can tap. You can receive an alert if you leave the device behind, and you can also disable Coin if it is stolen or lost. You can’t recharge Coin, but CNBC reports that the device has a two-year batterly life.

The idea behind Coin is that you can keep everything you need on a single card. No more fat wallet. It also works well with existing technology, unlike digital wallets that exist on your cell phone and require NFC technology (that allows a no contact wave in front of the terminal) to work.

Coin is supposed to be available in the summer of 2014, and it is expected to cost $100. However, you can pre-order Coin for $50 and pay $5 shipping and handling.

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Miranda is a freelance writer and professional blogger specializing in financial topics. Her work has appeared in numerous media, online and offline. Her blog is Planting Money Seeds.