Coin has announced the next generation of their electronic Coin 2.0 wallet, which is now available for pre-order at a price of $117.50. Shipping is expected to start during the first quarter of 2016. This new iteration promises to address previous issues and bring enhanced functionality to users.
Background and Evolution
Originally launched on Kickstarter, the electronic wallet has experienced a few issues along the way, primarily due to the change of credit card providers to use EMV cards, which were not supported by the original Coin wallet. The initial version of Coin was a revolutionary product that aimed to consolidate multiple credit, debit, and gift cards into a single, sleek device. However, the transition to EMV (Europay, MasterCard, and Visa) chip cards posed a significant challenge, as the original Coin was not equipped to handle these new cards.
The new Coin 2.0 wallet now supports EMV cards and once again provides all the features and functionality of the original device. This upgrade is crucial as EMV cards have become the standard for credit card transactions due to their enhanced security features. The great news for existing Coin owners is that Coin is replacing the original device for free, by upgrading all current owners with a new Coin 2.0 wallet. This move not only shows Coin’s commitment to its customers but also ensures that users can continue to enjoy the convenience of a digital wallet without any interruptions.
How to Upgrade and New Features
To request an upgrade for your existing first-generation hardware, you need to update your Coin application to the latest release. The updated app will provide instructions on how to register and receive your second-generation wallet. This process is designed to be user-friendly, ensuring that even those who are not tech-savvy can easily transition to the new device.
If you don’t already own one, the second-generation Coin wallet is now available for pre-order directly from the official website. The new Coin 2.0 comes equipped with NFC (Near Field Communication) technology for contactless payments, similar to other providers such as Apple Pay. This feature allows users to make quick and secure transactions by simply tapping their Coin 2.0 wallet on a compatible payment terminal. NFC technology is becoming increasingly popular due to its convenience and security, making the Coin 2.0 a competitive option in the digital wallet market.
In addition to NFC, the Coin 2.0 also boasts improved battery life, enhanced display, and better overall performance. The device is designed to be more durable and reliable, addressing some of the concerns raised by users of the original Coin. The Coin 2.0 also includes a new feature that allows users to lock the device remotely, adding an extra layer of security in case the wallet is lost or stolen.
The Coin 2.0 wallet represents a significant step forward in the evolution of digital wallets. By addressing the limitations of the original device and incorporating new technologies, Coin has created a product that is both innovative and practical. Whether you are an existing Coin user or new to the concept of digital wallets, the Coin 2.0 offers a compelling solution for managing your cards and making secure payments.
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