Coin, The Digital Bank Card Reaches Funding Goal In Just 40 Minutes

Coin, the Bluetooth Low Energy (BLE) connected card, has proven to be a hit in the crowdfunding community. Coin raised the $50,000 they requested to begin production in just 40 minutes. As a result, Coin has announced that more Coins are now available for presale. The company has also announced some new features. As we first highlighted last week, the Coin device is approximately the size of a single credit card. It can store all your swipe-able cards, and be used to pay anywhere cards are accepted. You simply toggle through your stored cards on Coin’s digital display to select the one you wish to use. From there, swipe Coin like you would with any other card. Best of all, Coin can sync with your mobile phone and alert you when you’ve left it behind. If it becomes lost, Coin will disable itself. Still worried about security? Coin uses 128-bit encryption for all storage and communication. Each Coin ships with a card-swipe dongle that connects to your smartphone or tablet. This allows you to upload all of your cards onto the mobile app, which automatically stores them on your personal Coin card. From there, you’ll only need the app when you want to manage, add, or delete existing cards. New features announced today include:

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.

Not yet convinced? Coin has published over 50 answers to the most popular consumer questions about the device on its official site. Here are some examples:

Q: Can someone upload anyone else’s card onto their Coin? A: With Coin, you can only add your cards that match your personal information stored in the app. Your full name will be printed on the Coin and your signature will be on the back. 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. 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 do credit card companies and merchants feel about Coin? A: We have are building relationships with major card providers and merchants and their feedback has been overwhelmingly positive.