The Best VPN For Trading Cryptocurrency: Who Can You Trust?
In 2010, Laszlo Hanyecz spent 10,000 BTC on two Papa John’s pizzas. Famous at the time for making the first “real-world” purchase with a cryptocurrency, he is now a cautionary tale for crypto-traders who cash in early.
That sum would be worth over $3 billion today. The rise from practically worthless to thousands of dollars for one bitcoin is nosebleed-inducing for people who haven’t been paying attention. The potential to gain huge sums of money has attracted many investors to the controversial world of crypto-trading.
Cryptocurrencies are completely decentralized and largely anonymous, causing some to worry about how they are used. The rise of Bitcoin, Ethereum, and parodies like Dogecoin have given governments a cause for concern. For potential traders in countries where cryptocurrencies are illegal, you need a VPN to get a place in this market.
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What Is Cryptocurrency?
A cryptocurrency is any digital online currency. Unlike a physical (or fiat) currency, cryptos are not tied to real-world banks. The price of a cryptocurrency is determined by its selling and purchase price – the more that people buy it, the more it is worth.
How Is Cryptocurrency Made?
Using Bitcoin as an example, crypto-trader A sends 1 BTC to crypto-trader B. Because no physical money changes hands and there is a risk of double-spending, a record needs to be created.
B searches for confirmation that A has 1 BTC to send. This request is sent to traders C, D, and E on the blockchain who confirm if A has the funds. If C, D, and E confirm that A has the money, money changes hands.
C, D, and E are miners. To confirm that A had the funds, they completed a cryptography puzzle. For helping A and B to complete the transaction, they also receive a BTC reward from A. They get paid to make sure that the blockchain doesn’t break. Nothing changes hands unless there is a consensus, effectively managing the market.
How Do People Buy And Sell Cryptocurrencies?
If you want to buy into crypto without mining or sell off your wares, you need a crypto-trading exchange. Functioning like a bureau de change, exchanges started to appear only a year after Bitcoin was released – firstly Bitcoin Market and the now-infamous Mt. Gox.
As cryptos became more popular, so did exchanges. Over 500 of them are trading right now, including:
Traditional financial establishments are starting to accept crypto as well. We have already seen Cash App open up to Bitcoin, so we may be on the edge of crypto being acceptable everywhere.
Can I Use Cryptocurrency Everywhere In The World?
Crypto-trading and crypto-mining are illegal in some places. From Egypt declaring cryptocurrencies haram to concerns in India about funding illegal activities, Bitcoin and other popular coins are simply banned in some places.
Cryptocurrency exchanges even face challenges in countries where crypto is legal. The UK’s FCA has cracked down on Binance, one of the largest exchanges around the world. Refusing to play by rules set by a local government can lead to problems.
If you live in a country that has an outright ban on cryptocurrency transactions, the best VPNs for Bitcoin, Ethereum, or any other cryptocurrency become a top priority.
The Risk of Cryptocurrency
Despite blockchain technology being extremely secure and largely hack-resistant (although not invulnerable) thanks to the community failsafe, there have been problems. Many of the attacks that have lead people to lose their crypto set their targets on the crypto-exchanges, not the blockchain itself.
Remember the cryptocurrency mantra – not your keys, not your coins. If the public encryption keys associated with your crypto-wallet don’t belong to you, you run the risk of someone else losing your coins. Losing your hard-earned crypto to human error hurts, but it hurts even more if it’s someone else’s mistake.
How Can I Be More Secure?
Use a VPN! Using a VPN adds another layer of security to your browsing habits. When you connect to a VPN, you hide your IP address and substitute a remote server’s IP address in place of your own.
By using a different IP address, you are anonymous while you surf. This means that a potential cyber-attacker can’t find out exactly who you are and start digging through your personal data.
Getting a VPN won’t stop all of the risks that come with using a cryptocurrency, but it will be a defense measure that will stop attackers from finding out who you are.
SecureThoughts Tip: In order to maximize your levels of security and privacy, choose a VPN you can buy with cryptocurrency.
Choosing The Best VPN For Cryptocurrency
Finding the best VPN for crypto can be difficult. With so many VPN services competing, they are constantly offering better features and stronger security. That’s why I examined the best VPNs available today and came up with the three best providers for crypto-traders.
ExpressVPN is the premium VPN service on the market today. With military-grade encryption and over 3,000 servers in 94 countries, ExpressVPN is perfect for people wanting to trade crypto. Best of all, it’s a VPN that accepts bitcoin and has a strict no-logs policy. Based in the British Virgin Islands, no one is accessing your data.
Hiding your traffic behind AES-256 bit encryption, DNS leak protection, and a kill switch to stop your identity from leaking out, ExpressVPN has all the tools to keep you hidden and safe while you trade. You can also remain absolutely anonymous because ExpressVPN accepts Bitcoin payments. Pay for your VPN with Bitcoin and no one will be able to find you.
A juggernaut in the world of VPN services, NordVPN is one of the best VPNs that accept Bitcoin. Coming with fantastic features like the NordLynx protocol for faster connections, zero logs promise, and military-grade encryption, NordVPN offers everything you need to make Bitcoin transactions and trade Ethereum.
NordVPN is the perfect balance between top-of-the-range features and price. It’s also famous for its connection speed, meaning you can trade cryptocurrencies even faster with NordVPN.
As the bargain bucket VPN service, many people might think that Surfshark isn’t worth considering. But the affordable VPN provider offers everything you need – AES-256 bit encryption, a strict no-logs policy, an automatic kill switch, and unlimited simultaneous connections. Plus, they’re based in the British Virgin Islands, where there is no legal requirement to share data about internet users.
As another VPN provider committed to privacy, Surfshark accepts Bitcoin. You can make anonymous Bitcoin payments to gain all of Surfshark’s cutting-edge security and privacy features.
Is A VPN Enough to Keep My Crypto Safe?
Crypto-trading can be a risky business, even when you are using a VPN. The best ones will make you truly anonymous online, but you are still responsible for your own crypto. Even the best security falls apart if you’re not careful and make thoughtless errors.
Using a VPN to buy and sell crypto is a good idea, especially if you are living in a country with restrictive policies around Bitcoin and other leading digital currencies. But remember that using the best VPN for Bitcoin and other cryptocurrencies doesn’t change the fact that you are responsible for your own crypto.