Whenever something stores sensitive information electronically, people worry. Forbes took those concerns to the creators of Coin and was assured that the gadget is password protected and is 128-bit/256-bit encrypted. “The CSC code is encrypted on the Coin and when you dial in the card it shows up on the screen,” Coin explained. The device only shows the last four digits of the card number, the expiration date, and the CW. An alarm is also built in that keeps track of how many times Coin is swiped, and will send your phone an alert if fraud is encountered.
Coin has a really in-depth FAQ section on their site, answering over 50 different questions regarding safety and usability. According to CNN, Coin plans on adding a button to their card so you can reactivate it even if your phone dies and there will also be a "lock" so a waitress won't be able to accidentally switch your payment preference when taking it from you. Problems may arise, but Coin just wants everyone to remember that they're still incredibly new and are only six months old.
You can pre-order Coin for $50 for the next 19 days (shipping begins summer 2014), after which the device jumps to its normal $100 price.