WHY TO USE VPN WHEN BUYING BITCOIN/CRYPTOS
In this article, you will learn the workability of VPN, how you can utilize its services for your benefits and why VPN is needed when buying Bitcoin/cryptocurrencies.
Virtual Private Nework (VPN) is a technology that enables online activities to be strictly private and secure. VPN ensures the optimization of privacy and non-tracing of activities in the web over public Wi-Fi networks. It helps users to connect to different locations using VPN servers over secure protocol and thereby stopping local ISP’s control of traffic. This guarantees the authenticity and confidentiality of information passing through its tunnel. One of the best VPN providers can be checked here: NordVPN
How can one connect to VPN?
The first step is to have a VPN Application that will establish a connection once you link-up to your Internet Service Provider (ISP). The VPN will route and encrypt your traffic of preferred location IP address using end-to-end encryption protocol. The VPN server will provide extra layer protection to ensure information is protected from the prying eyes. Once, it’s connected, you’re safe to surf the web without any interception of your information.
Examples of paid VPN services include NordVPN, Hotspot Shield, ExpressVPN, SurfShark, CyberGhost,TunnelBear.
How is VPN beneficial to users?
VPN has a lot of benefits with four of them quickly highlighted here:
1#. Gaining access to restricted websites from any location –VPN ensures that, you gain access to any website restricted or censored by the constituted authority in your country or region. A good example is the restriction of Facebook by North Korea and Iran in their web space. VPN helps any Facebook user in such countries to connect to Facebook without being traced.
2#. Connecting to public Wi-Fi without any expression of fear– VPN is the sure way of protecting any inbound traffic and securing web activities. VPN encrypts the incoming and the out-going traffic making it practically impossible to intercept information passing through the VPN tunnel.
3#. Saving money on online deals– It’s a proven fact that, VPN can be used to book cheaper hotels, flights, car rentals and online shopping. You can leverage on this information to start getting cheaper online deals with effect from today.
4#. Avoiding any bandwidth throttling – Watching your favorite TV programmes or streaming of videos on YouTube do experience buffering in some cases. It’s an indication that, your ISP is controlling your internet traffic, causing bandwidth congestion and slow connection speed. This is called bandwidth throttling. VPN encrypts your internet traffic, cutting-off the ISP control and ensuring high connection speed.
Why is VPN needed when buying Bitcoin/cryptocurrencies?
If you know how to secure Bitcoin and other cryptocurrencies, then you’ve taken a wise step which many people ignored. Securing cryptocurrency transactions has been a major issue in the financial sector. As the value of the Bitcoin and cryptos keep rising rapidly, hackers are lurking on to take advantage of the rising trend.
While Bitcoin and its blockchain ensure anonymity, the process of buying Bitcoin exposes the buyer. Most online exchanges are vulnerable that makes any cryptocurrency transaction risky, especially when you enter exchange login details via unsecure internet connection(VPN makes it secure). In early 2017, more than $1million was stolen from the Bithumb exchange and over three thousand customers’ information were compromised.
Phishing attack is another common security lapse in the Bitcoin and other cryptocurrencies transactions. For example, in 2018, malicious agents attacked Electrum wallets and a million dollar worth of cryptocurrencies were stolen within few hours. The risks mentioned above can be significantly lowered using VPN (especially NordVPN) when making crypto related activities.
You might be wondering why VPN is needed when buying Bitcoin and other cryptocurrencies (altcoins). The illustrations given above show that, a lot needs to be done in securing cryptocurrency industry. VPN is very important when privacy and online security come under scrutiny. The degree at which VPN helps in securing Bitcoin/other cryptocurrency transactions is giving the industry players hope of a secure industry in the future.
Back to our earlier discussion, Bitcoin transactions are stored on a distributed public ledger which makes it easy to track transaction details even though the user maybe anonymous. IP footprint is traceable in the event where Bitcoin is transacted without VPN in the exchange network.
A good VPN shields your identity from the prying eyes of the third party whenever you buy Bitcoin or altcoins. In a nutshell, VPN is highly needed to encrypt all transactions made when buying Bitcoins or altcoins.
When VPN is used in buying Bitcoin or altcoins, these take place:
- VPN provides an encrypted tunnel for your data to navigate without any intrusion of a third party.
- VPN hides an IP address, thereby preventing any IP tracing.
- The log information is untraceable since VPN does not store the user’s log information.
- VPN prevents phishing attacks.
- VPN ensures privacy of the user is not compromised.
In conclusion, VPN has proven to be the surest way to protect and secure your data over public Wi-Fi network. The expectation of many about cryptocurrency transactions is to have a platform that has zero tolerance on vulnerability. However, considering the incessant attacks and the intrusions that take place in the financial sector, users need an application like VPN to safeguard their transactions. Whenever you want to buy Bitcoin or other cryptocurrencies, consider what VPN got to offer, especially recommended by us NordVPN.