Cryptocurrencies are making their way into the world as one of the most popular payment systems.
Their use rises in popularity because of the anonymous payments they offer. Individuals can make transactions, and no one can see who it was.
In reality, these transactions don’t have as much privacy and security as individuals think. Most cryptos are pseudonymous rather than anonymous.
Once payments go through KYC/AML verification to the public ledger, anyone can track your movements.
From your internet service provider to the exchange itself, users are vulnerable from a high number of threats.
VPN’s can help hide these digital footprints, so now hackers, ISP’s or anyone else who wishes to monitor movements and browsing habits, will have no idea who or where is making these digital deals and payments.
Here, we look at more why you need a VPN when using cryptocurrency and how to choose a VPN that will protect your privacy while online.
Crypto Risks and Concerns
The way cryptocurrencies are made, they are supposed to avoid any issues of hacking. For the coins themselves and the blockchain, this is true. However, all the other areas are now becoming weak spots.
Crypto professionals claim complete security, yet with hacking being the number one problem area, there are many others. Here are a few of the major risks users of crypto are up against.
Double Spending: Attackers use a single coin to make multiple purchases or transactions. After validation, all but one of the transactions will be invalidated. It is a very lucrative attack scammers are taking part in.
Anonymous Addresses: Bitcoin addresses are not very anonymous. When you connect a Bitcoin wallet to the user IP, it is possible to track back and gain access to the location and the identity of the said wallet owner. VPN apps can make any person appear in a different location.
Cryptojacking: Individuals systems are infected with mining software. These then use their CPU for mining crypto without them knowing. This is a newer form of malware, and one which using a good VPN service can help avoid.
Other problem areas include fake crypto exchanges, ICO frauds, among others. Some are even self-induced.
Something as innocent as passing your wallet address through a social media messaging app can leave you vulnerable.
How to Use a VPN for Buying Cryptocurrency
When you use a VPN for purchasing any cryptocurrency, they will protect your identity. No matter who tries to track your movements, from government agencies, hackers or other malicious third parties, they will not be able to do so.
When you use a virtual private network, no one can steal your money if they don’t know who owns it.
VPN providers have systems that add extra layers of security to those in place with cryptos.
Here are some of the reasons you should be using a VPN to buy crypto.
- A VPN will encrypt all your data. No one can intercept it while traveling through the VPN connection.
- Extra security is added against viruses, malware and phishing attacks. A Kill switch makes sure your internet traffic isn’t exposed if you lose your connection to VPN server.
- The best VPN’s spoof your IP address. And thus your location is hidden from crypto exchange provider, ISP, government officials or any other firms who carry out online forensic analysis. These VPN’s don’t retain logs or online activities, unlike Free VPN’s who harvest user data to build up profiles for advertising or other malicious activity.
- When you connect to a VPN, you can trade anywhere, even if the exchanges are blocked from your location.
- You can use a VPN in a coffee shop or other public Wi-Fi hotspot without any potential hacker tapping into your internet connection.
Here are the basic steps for using a VPN to purchase cryptocurrency.
Select the best VPN, which meets all your needs
- Create your account and choose your plan.
- Receive confirmation email for verification.
- Download and install the VPN app.
- Connect to a server in the country where your crypto exchange is located.
- Open your browser and head to your crypto exchange
- Proceed with buying your cryptocurrency
Choosing a VPN can be harder than using one. Here are some brief VPN reviews, which can make choosing a VPN more straightforward.
ExpressVPN: This VPN is number one for many reasons. It delivers military-grade security, the fastest download speeds, and it accesses more streaming services than any other VPN for when you want to relax.
Any ExpressVPN review you read always praises this for being fast and dependable, and passing any leak test of IP’s. Support 94 countries with 3,000 servers.
Surfshark: This mini Surfshark review can’t fit in all this VPN offers. Other VPN’s don’t offer as many features, as this does. It is one of the few, which locates itself in the same region as the VPN above.
It’s major downside being a small network, so it can’t deliver support in as many countries. 1040 servers in 61 countries.
NordVPN: One of the most secure VPN’s there is. It will take a full NordVPN review to see all the security measures this Panama company uses.
With a double-hop feature, TOR over VPN, you can be anonymous, although much slower than usual. Large server network and this VPN is a good idea if you want security.
CyberGhost: An easy VPN for new users. Recently upgraded, and has a 1-day free trial on desktops, or seven days on mobiles.
It follows all of the above and uses top-tier encryption. It will take reading an up to date CyberGhost VPN review to see all that is new, and if it improves its performance.
Private Internet Access: This internet service VPN is based inside the USA, which is part of the 5-eyes jurisdiction.
It is a crowd favorite, yet it begins to fail on features the above offer without issue. If you are after secure transactions, you better read a full Private Internet Access review to understand this VPN.
Conclusion
It is advisable for any individual to use a VPN, and not just for those using cryptocurrency. The same threats face everyone, privacy while online should be a right and not something; users need to fight for.
The above providers are in order of preference, and you can work your way through to test all the features.
The first few have a money-back guarantee, so you can use them as a free VPN for a month to see which delivers the best performance, and meets all your privacy needs.