As expected, the official iOS app of Coin, the so-called “credit card of the future,” has been released on the App Store. But, also as expected, the app is quite limited in that it’s designed for beta users for now.
Coin, a card-shaped card info storage device that was successfully crowdfunded in just 40 minutes last year, was supposed to begin shipping this summer. But last week, the Coin team announced that the product’s official launch had been postponed for spring 2015.
Instead, Coin Beta has been initiated to provide 15,000 early backers each with a prototype of the device. It’s important to note, though, that Coin Beta has a swipe acceptance rate of only 85 percent, thus requiring beta users to carry physical credit cards for backup. Also, it expires in two years.
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Coin Beta can be activated and managed using the newly released Coin app for iOS, which has the following key features:
- Add cards to Coin App and keep them handy them any time you need them
- Coin App will store all the cards you want: credit, debit, gift, membership, loyalty and more
- Protect your information with Tap Code, a new pattern security feature available for Coin App and the Coin Device
- ID Verify secures your account and ensures that no one else can get within the Coin Secure Ecosystem pretending to be you
- Owner Verify ensures that only credit, debit and payment cards that you control can be added to your account
- See your pending Order Status through the app, and activate your new Coin device when you receive it
Coin is currently available for preorder on its official website at 25 percent off for $75. It’s expected to revert to its regular price of $100 in mid-September.