Coin?

Old May 30, 14, 3:15 pm
  #1  
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Coin?

I'm sure most of you already know about Coin (onlycoin.com). I'm wondering how useful this might be in getting around things like unloading large dollar value gift cards (i.e. Amex) when buying Visa/MC gift cards since you will be able to get your name inscribed on the card? Might be other situations it could be useful to attach a prepaid card to Coin in order to mask it...
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Old May 30, 14, 3:35 pm
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~$30 / year + extra hassle just to mask a name. Not for me.
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Old May 30, 14, 8:54 pm
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Obviously you have never heard of Marathon Man's embosser. It can get your name on any card.

Originally Posted by youngmoneyhack View Post
I'm sure most of you already know about Coin (onlycoin.com). I'm wondering how useful this might be in getting around things like unloading large dollar value gift cards (i.e. Amex) when buying Visa/MC gift cards since you will be able to get your name inscribed on the card? Might be other situations it could be useful to attach a prepaid card to Coin in order to mask it...
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Old May 30, 14, 9:24 pm
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I'm all for it... Though I see a high push back from retailers since your name won't be on the Coin.

Unless your name WILL be on it...

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Old May 30, 14, 11:15 pm
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I want one... but I dont want to pay for it.

If that makes any sense....
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Old May 30, 14, 11:29 pm
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Originally Posted by KYBOSH View Post
I want one... but I dont want to pay for it.

If that makes any sense....
MS. With that CB, buy it? Free?
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Old May 30, 14, 11:47 pm
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I cancelled my pre-order with Coin and got my $50 back since it does NOT support the EMV chip. All my cards in my wallet now have an EMV chip, except my Capital One.

And yes, the Coin does have your name on it. Coin has confirmed this so there will be no issues at retailers.
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Old May 31, 14, 12:04 am
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Originally Posted by PowerMan572 View Post
I cancelled my pre-order with Coin and got my $50 back since it does NOT support the EMV chip. All my cards in my wallet now have an EMV chip, except my Capital One.

And yes, the Coin does have your name on it. Coin has confirmed this so there will be no issues at retailers.
So then is indeed a MS'ers dream then.
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Old May 31, 14, 12:15 am
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The problem I see with Coin from the start going forward is that the US is mandated to move its credit cards to the European standard by Oct 2015 or at least the major banks are required. So far from the prototype of coin it is still using just the magnetic stripe which eventually will be OBE. Would be interested to see if Coin is already on top of this and is already coming out with a way to implement the EMV embedded chip to provide "chip and pin" support to its Coin card.

EDIT: Read the Coin FAQ under the "Security" section for question 1 and it looks like the first generation Coin cards are designed to be used in the US market only. However they did mention that future generations of the Coin card will have an EMV chip with "chip and pin" support. Would love to see how the first generation users like the Coin card.

https://onlycoin.com/support/faq/

Q. Does Coin support chip & pin (EMV)?
A. Coin is currently designed for the U.S. market and does not support chip & pin (EMV), however, future generations of the device will include EMV.

Last edited by ericdabbs; May 31, 14 at 12:27 am
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Old May 31, 14, 12:18 am
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Originally Posted by ericdabbs View Post
The problem I see with Coin from the start going forward is that the US is mandated to move its credit cards to the European standard by Oct 2015 or at least the major banks are required. So far from the prototype of coin it is still using just the magnetic stripe which eventually will be OBE. Would be interested to see if Coin is already on top of this and is already coming out with a way to implement the EMV embedded chip to provide "chip and pin" support to its Coin card.
Meh. If I got a good years worth out of it. That's fine with me lol Just use MS money.
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Old May 31, 14, 12:22 am
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Originally Posted by f0xx View Post
Meh. If I got a good years worth out of it. That's fine with me lol Just use MS money.
Sounds like we have a buyer. Let us know how it works for you.
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Old May 31, 14, 12:38 am
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Originally Posted by ericdabbs View Post
Sounds like we have a buyer. Let us know how it works for you.
We'll see when it's released.
Who knows. What if it changes the MS game?
I'm skeptical. Though if it works... It's gold.
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Old May 31, 14, 12:41 am
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Surely it couldn't be as easy as loading a bunch of your VGCs onto it and unloading them as debits and liquidating at your convenience. Am I so lucky? I bet it will get denied places or blow up, but I might try it for fun if nothing else. Especially if it takes care of any Walmart problems.
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Old May 31, 14, 1:20 am
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If anything I think it is more useful for loading cards with category bonuses. I hate lugging around six different cards which I cycle through depending on what I'm buying. Makes it hard to wear my tight pants.
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Old May 31, 14, 11:17 am
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yeah its a great idea, too bad its at the toe end of the CC evolution cycle... wish they launched this with EMV.

even then gonna look into Gen 1. $50 for the card and $30/yr subscription aint bad but could be better. not sure a lotta ppl would be willing to pay that as reg consumers, we might as MSers, but if it doesn't catch on its gonna flop big time.

unless I have the market wrong and it's the other way around in terms of consumer behavior -- I guess we'll find out soon enough.
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