This is awesome. [ was my original comment] and then I read @Steven's remark here and now would wait to try it before making my mind. But as a concept - huge market, massive need, existing banks can't do it - so a 3rd party tech play makes absolute sense. Wealth of finance data - could be used to customize so much. Brilliant idea.
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Considering how long it took me to get my first Coin, how badly it worked, and how unwilling their Customer Service sad to listen to what I was saying (instead just blasting me with pre-written "try this" text, I'm done with Coin.
Love mine, works almost everywhere - random failures in the US are generally the result of swiping too fast IMHO but there are some places (my banks ATM near my house where it just doesn't work) but 100% success rate in the Bahamas... little shacks too, weird. The proximity alert does not function at all and I can't get some store cards into it.
Had the Beta, they were very good about feedback and bug reports, got the 1.0 and have been happy. Upgraded to 2.0.... I still carry around a spare card "Just in Case" but other than seeing my ATM fail that's been the only time it hasn't worked in the last few months in 4 states and 2 countries.
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I have the 1.0 and so far it works in every place I've tried it except for the auto parts store. It seems the keyboard based swipers are to narrow. You do have to swipe a bit slower and then it takes time to explain to the clerk what it is you're using. But so far so good. We'll see when 2.0 comes out (based on prior timelines I'm expecting a bit of a delay) how good it is.
The only thing that I'm a bit confused on is how I can give it to my spouse and she use it, because right now if it's not near me and my phone it locks.
I was in the beta batch for Coin -- the one that was intended to ship as a 1.0 product. I stopped using it after two months for the same reasons that have been shared on this post. I also wasn't a fan of the materials used, I would have gladly paid extra for something that contained some sort of metal like the Chase Sapphire Preferred cards.
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