Bitcoin
$ 29,824.00 1.14%
Ethereum
$ 1,946.77 3.34%
Solana
$ 48.18 4.19%
Dogecoin
$ 0.083119 1.29%
ApeCoin
$ 7.31 3.93%
STEPN
$ 1.37 3.33%
Terra
$ 0.000168 3.96%

Users can’t use Apple Credit Card for crypto payments

Apple Card crypto purchase

The Apple Credit Card was first released in March of 2019 by Apple Inc to support its customers to streamline payments for apple products, both single-use, and subscription-based as well.

The project was launched in conjunction with large corporations like Goldman Sachs and Mastercard, but the customer agreement policy clearly states that the card cannot be used to purchase cryptocurrencies no matter the application.

It was expected to have Apple Credit card perform in such a manner simply due to the fact that it’s a credit card. As we all know credit cards were banned by banks from purchasing cryptocurrencies. That kind of luxury could only be achieved by debit cardholders.

Furthermore, if you’ve ever tried to deposit on large cryptocurrency exchanges you may have noticed that a large chunk of it was missing after the process. This is due to both Visa and Mastercard introducing huge commission fees for purchasing Bitcoin, forcing the community to go through multiple layers of transactions and potentially spending even more on fees.

However, in the wake of everybody adopting the blockchain, including both Visa and Mastercard, it could be possible for Apple to develop a similar product just to get a slice of the new trend as well.

However, as of yet, there is no clear indication that one of the largest corporations in the world wants anything to do with this technology.

Giorgi Mikhelidze

Giorgi Mikhelidze

Georgian-born blockchain enthusiast Giorgi leverages his software development background for on point market commentary and analysis. A brief stint with Finance Makers and he's now covering crypto news for high authority websites with the tip learned from past experience, "Whenever you see people talking about the weakness of your idea, don't see it as criticism."

Related News

Hot Stories

Here's why attorney Jeremy Hogan believes Ripple lawsuit is nearing 'endgame'
Mastercard backs crypto despite market decline
Terra (LUNA) Rebounded over 1000% in A Day? — Can Investors Expect Any Ray of Hope?
XRP Price Prediction 2022-2030 [After Lawsuit]
The Sandbox Price Prediction 2022-2030: HODL or DUMP?

Follow Us

Industry News

Singapore VC firm gets a $100 million metaverse and Web3 fund
Andreessen Horowitz raises $4.5 billion to back crypto firms
Babel Finance hits a $2b valuation with $80m in funding
The UpLift DAO team joined a closed VIP Discussion with Dr Gavin Wood on what it takes to Build a Better Web3
Mastercard backs crypto despite market decline