íàçâàíèå

No You Cannot Buy Bitcoin With Apple Card

No You Cannot Buy Bitcoin With Apple Card

One of the worlds largest tech firms has made its stance on bitcoin and crypto quite clear. Users of Apples new credit card be faced with a number of restrictions, and one of them is cryptocurrency purchases.

Bitcoin Not An Option

As expected, Apple continues with its quest to dictate what users can and cannot do with the companys products and services. The terms and conditions for the new credit card were posted on the Goldman Sachs website this week according to Reuters. The Goldman involvement is part of the banks longer-term partnership with Apple to build a consumer-facing business.

Part of the Apple Card customer agreement included a clause that prohibited the purchase of cash advances or cryptocurrencies The restrictions continued with casino gaming chips, race track wagers or lottery tickets. The tech giant may just as well say only for shopping in the Apple Store, as that appears to have been its primary intention.

The report added that it is not uncommon for credit card providers to block bitcoin and crypto purchases adding that several banks have already done so including Lloyds Banking Group Plc, Virgin Money, JP Morgan Chase and Citigroup.

Following heavy reliance on iPhone sales, which have slumped 12% in the last quarter, the company is expanding its efforts to derive more income from services.

No Jailbreaking Either

In addition to the bitcoin blockade, the tech giant has restricted use of the credit card with jailbroken devices. To apply for a card, users must sign up and be approved via the Wallet app on iOS, additionally, the agreement says the device must be eligible to qualify.

Jailbreaking is the process of removing Apple restrictions to allow the installation of third-party non-approved applications. In other words, allowing consumers to do what they want with their own devices and not what Apple wants.

According to the customer agreement, Apple will lock users out of their credit card accounts if there are any attempts to modify their devices.

If you make unauthorized modifications to your Eligible Device, such as by disabling hardware or software controls (for example, through a process sometimes referred to as jailbreaking), your Eligible Device may no longer be eligible to access or manage your Account

The Apple Card is due to be released later this month and is likely to appeal only to diehard Apple nuts since ordinary credit cards have far fewer constraints.

Would you use Apples credit card? Add your thoughts below.

Image via Shutterstock

The post No You Cannot Buy Bitcoin With Apple Card appeared first on Bitcoinist.com.

03.08.2019 / 01:50 50
Apple Embraces Bitcoin – Adds ? Symbol to Its Icon Set Apple Embraces Bitcoin – Adds ? Symbol
Apple has finally acknowledged Bitcoin by adding a symbol to its new icon set. It appears the mass adoption movement is gaining momentum at last.
Why the New ‘Apple Card’ Credit Card Doesn’t Compete With Bitcoin Why the New ‘Apple Card’ Credit Card
The Apple credit card launches this summer. Heres why it nothing like Bitcoin and is more underwhelming than a utility token with no use-case. Apple
Wells Fargo Halts Credit Card Cryptocurrency Purchases Wells Fargo Halts Credit Card
Wells Fargo & Company, a San Francisco-based financial services giant, announced recently that it will no longer allow cryptocurrency purchases
Apple Warns iPhone Users Not to Mine Cryptos Apple Warns iPhone Users Not to Mine
Smartphones have evolved way beyond their original concepts and are now used for all manner of computing tasks, including mining cryptocurrencies. It
Apple’s App Store Revises Cryptocurrency App Rules Apple’s App Store Revises
Just recently the tech giant Apple has revised its App Store policies concerning cryptocurrency applications offered within the platform marketplace.
Ethereum Could Be the Next Apple: Steve Wozniak Ethereum Could Be the Next Apple: Steve
Blockchain platform Ethereum could be the next Apple, one of the iconic tech company’s co-founders said this week. According to Forbes, Steve Wozniak
Comments (0)
Add a comment
Comment on