Mistake To Write Off Apple After Credit Card Crypto Ban

Steve Jobs at Apple iPad Event 768x514

Apple will not allow users of its soon-to-be-released credit card to buy cryptocurrencies or “cash advances or cash equivalents”, according to reports. That fits with what we know about Apple, but that hasn’t stopped headlines about the company snubbing crypto. The truth is altogether less dramatic. Apple is not letting customers do high-risk stuff that could cost them. Buying cash on a credit card is never a good idea and buying cryptocurrencies that way pure madness. Apple’s credit card venture is in partnership with investment bank Goldman Sachs. According to reports, the credit card could launch as soon as this month. It is the sort of prudence on behalf of its customers – or paternalism some might say – that is built into Apple’s DNA. Clearly in the light of Facebook’s Libra announcement an expectation had been built up in some quarters to the effect that Apple, along with its…

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