Apple Card vs Bitcoin, this is what the community says: 'Jobs is Satoshi?'

26 Mar, 2019 | Updated: 26 Mar, 2019
by Jelmer van der Dussen
Bitcoin
Apple Card vs Bitcoin, this is what the community says: 'Jobs is Satoshi?'

Apple's announcement that it will be releasing the Apple Card this summer in the United States has made some cryptocurrency enthusiast worried and others excited. Is Apple Card a threat to Bitcoin and other cryptocurrencies trying to become a widely adopted payment method? This is what the community says. 

The Apple Card is a creditcard created in partnership with Goldman Sachs and Mastercard, and is being built into the Apple Wallet app on the iPhone, with no fees, lower interest and 'a new level of privacy and security'. The unique card number is stored safely in Secure Element, a special security chip, and because of the 'unique security and privacy architecture' Apple claims it will never know where a customer shopped, what they bought or how much they paid. 

Read more: What does Apple Card mean for crypto?

There is also a physical card available that allows customers to shop at places that do not accept Apple Pay. The card doesn't come with a number, CVV security code, expiration date or signature on the card. 

These security and privacy aspects leads some people to think Apple Card is a threat for Bitcoin. 

Read more: Samsung entering cryptocurrency: this is how Apple can (and should) follow

But most don't think Apple Card will compete with Bitcoin, and believe the two are not even comparable.

Card

Some community members think Apple is paving the way for cryptocurrencies to be introduced in the Apple payment ecosystem.

You can even start paying with Bitcoin through your Apple Card already! If you want to take all these steps...

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