Users can’t use Apple Credit Card for crypto payments

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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.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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