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This is pretty cool, one card to rule them all!


JStump

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I just preordered one of these, they are pretty cool from what I have researched. Its basically an electronic credit card that can store 8 different credit cards or loyalty/reward cards. You can store as many as you want on the app and if you need one of the cards no loaded at the time you just open the app and switch them. Has 128/256 bit encryption and will deactivate if you leave it somewhere as well as notify you when the card is out of range in case you leave it at the bar or something. Thought some of you may like the idea so use this link and I get $5 back :D

 

It is $50 right now but will be $100 in 5 days.

 

https://onlycoin.com/?referral=UIuNAjan 

 

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Correct, if you lose it or it is separated from the phone for longer than the amount of time you specify it deactivates and notifies you so it SHOULD be safer than if you were to lose your wallet. And if you lose it you still have all your original cards that you can use like normal.

Edited by JStump
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Did some more reading on this.  The card is powered and when that battery is depleted, you're done and the card is scrap.  You'd need to spend another $100 on a new one and start over again.  Not estimate is given regarding battery life of the card.

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Did some more reading on this.  The card is powered and when that battery is depleted, you're done and the card is scrap.  You'd need to spend another $100 on a new one and start over again.  Not estimate is given regarding battery life of the card.

Q. How long does a Coin last? Do I recharge it? What happens when my Coin’s battery dies?

A. Coins are designed to last for 2 years under normal usage and do not need to be recharged. Once the battery dies you will need to replace your Coin.

Q. How do you figure that a Coin will last 2 years? What constitutes normal usage?

A. Here’s how we modeled typical usage. On a daily basis, we assume you’ll toggle which card you want to use and swipe your Coin 10-20 times a day. In addition, you may adjust which cards you want to store on your Coin a few times a week. Initially when you’re getting to know your Coin you will likely be syncing often. Over time we find that most people sync much less frequently once his or her cards are on a Coin. If you swipe and sync more frequently on a consistent basis, your Coin’s battery will drain more quickly.

Q. If I use the device 2-3 times per day compared to the typical usage model of 10-20, would this extend the battery life? If yes, by how much?

A. If you use your Coin less frequently it will indeed help extend battery life. If you only use it a few times a day, we estimate this will add on a month or two of battery life.

Q. Won’t the Bluetooth connection between my Coin and my phone drain the Coin’s battery?

A. Bluetooth Low Energy (BLE) is designed to consume very little power and in addition to that we’ve carefully optimized communication between the Coin and Coin mobile app. Under normal usage, a Coin’s battery should last 2 years.

Q. When does a Coin start using its battery?

A. Coin starts using its battery as soon as it is manufactured. We have carefully optimized how it uses power before it is ever synced with your phone and after it is synced with your phone to maximize the lifetime of the device.

 

You are correct it uses a built in non changable/chargable battery but it is estimated to last 2 years on normal use. I would hope by then they have some sort of upgrade price for people who already own them where they can trade them in for a new one at 50% off or something.

Edited by JStump
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I ordered one for a few reasons. If it works, great, Second, Ill be pentesting it to look for issues and general shenanigan capability. :)

 

Get your hands on someone else's real card for a few seconds...scan it into your onlycard. Profit. What I wonder about is will merchants accept this thing.

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Get your hands on someone else's real card for a few seconds...scan it into your onlycard. Profit. What I wonder about is will merchants accept this thing.

 

Yeah that will be the interesting thing. Some will, some wont, Im sure. Since it doesnt have any identifying markings on it, im sure some businesses will not. Its basically a glorified card cloner in a minaturized package :)  Could be fun for hotel keys, CC's, office badges, prepaid gift cards etc. Much smaller form factor than my current Magnetic strip reader/writer. :)

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Get your hands on someone else's real card for a few seconds...scan it into your onlycard. Profit. What I wonder about is will merchants accept this thing.

 

Don't see why they wouldn't, you scan your card yourself at most places... so you can scan whatever card you like. Most cashiers don't even look at the card.

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  • 8 months later...

I got on the beta program for Coin. Should get my beta card in the next few weeks. The real cards are delayed until Spring 2015.

And this is why I canceled mine. They over promised and under delivered and now they are gonna be waiting until the new credit card chip system is almost in effect. I'm already starting to get new credit cards even before mine are close to expiring because they now have the chips in them.

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And this is why I canceled mine. They over promised and under delivered and now they are gonna be waiting until the new credit card chip system is almost in effect. I'm already starting to get new credit cards even before mine are close to expiring because they now have the chips in them.

 

I have a chip in one of mine but use it as a magstripe still.  No NFC/prox cards from my bank yet.

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