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JstLikeMagyk

Apple card can't be used to buy crypto

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https://techcrunch.com/2019/08/03/apple-card-cant-be-used-to-buy-crypto/

for those of you who don't know Apple is on it's way to delivering a credit card breaking into the credit market via partnering with goldman & sachs, however we won't be able to buy crypto with it?

I've already use apple cash to buy crypto and the process works very well using basically a virtual debit card I wonder why they are going forth with this type of credit card and if it's something other companies may adopt in future? generally these restrictions are only put in place to A) meet a countries regulations. Or B) to issue a certain type of restricted credit card such as one only used for travel.

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4 minutes ago, williamsh said:

I would like to know how they will know what you are buying with it? I mean if you use the apple card to pay the seller directly e.g. on Localbitcoins, how will apple know it is for crypto?

That's a standard feature built into all credit cards It's a bit complicated to explain but different types of transactions fall under different categories of charge and they know bro after all pos is also their technology 😛

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essentially the credit card company has the ability to check what website the payment is being done on so they can easily find the purpose of the payment and it's no wonder that apple would ban crypto purchasing like paypal etc because of many legal reasons :P 

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