Why you should trade cryptocurrencies using VPN

by Daniel Segun January 13, 2020


The popularity of cryptocurrencies is especially high among those who value privacy. To transfer money without any middlemen, such as banks, is a new way of payments peer-to-peer. If, for example, you got a payment in Bitcoins, you will not know the sender’s name, only the address.

Bitcoin and other cryptocurrencies represent the growing international financial market and its possibilities for individual investors. If you invest in cryptocurrencies you have to think of the security of your transactions. One of your main tasks is to make your transactions safe.

Blockchain technology of cryptocurrencies allows making fake bitcoins extremely difficult because transactions are stored on thousands of nodes. If a hacker wants to fake bitcoins he would have to hack all those nodes at the same time.

Although blockchain technology possesses a high degree of security, there are also bugs in the system, for example when exchanging cryptocurrencies. If a coin is stolen from your account you cannot track it and hackers can use this bug stealing small amounts from thousands of users simultaneously.

Main security issues of using cryptocurrencies

  • offline wallets can be subject to different vulnerabilities, besides, hackers can use phishing attacks, trojans and hijackers to steal coins from the wallet;
  • bitcoin addresses can be used to identify the user, so don’t share yours in your social media;
  • the use of unreliable exchanges;
  • new frauds such as ICO (initial coin offering) are getting widespread; you should carefully consider any cryptocurrency startups;
  • your computer’s CPU may be used for crypto mining purposes. If you notice that your PC has slowed down considerably, run a malware check.

In some countries trading cryptocurrencies is prohibited or there are high taxes for such transactions. The volume of trades grows and the authorities will try to track as many transactions as possible.

Why using VPN is a must in cryptocurrencies transactions

If you deal with cryptocurrencies, for the security of your cryptocurrencies transactions you should use VPN services. When you trade bitcoins, VPN servers encrypt your information and it becomes secure.

Using VPN service hides your real IP and it will be impossible to connect your bitcoin address to your PC’s location.

Choose a VPN service that doesn’t store logs, if you don’t want your activity to be tracked. Paid VPN subscriptions are more reliable than free services and still affordable to an average user.

How to secure your cryptocurrency wallet

  • it’s unsafe to make transactions from your smartphone, it is easy to hack or steal it;
  • don’t use public wi-fi for your transactions;
  • your passwords should be strong;
  • give up unsafe bitcoins altogether, use other cryptocurrencies;
  • if you store your wallet on the device that is not connected to the internet, it would provide better safety;
  • you should have several cryptocurrency wallets but store as little as possible in your main one;
  • update your anti-virus and VPN software regularly.

Trading currency using secure VPN

Crypto trading differs greatly from traditional Forex or Stock markets. If you want to trade altcoins, you can do it anonymously, registering with some brokers only with your email and password. Your connections are still monitored and saved by your provider.

Yet there is another risk for your data to be stolen by thieves when you log in to the broker’s website. 
Using VPN secure services allows crypto traders to keep their transactions and the details of their accounts anonymous.

Your trading becomes hidden if you use a good VPN service and your broker doesn’t require your details. Your data transmitted between your PC and the broker platform is encrypted and not available either to authorities or the government.

People whose volumes of crypto trades are high are cautious as far as their private information is concerned. It is known that internet providers collect data of their users and may give it to the authorities or law enforcement bodies if prompted. So if you trade cryptocurrency it is your responsibility to take necessary precautions as early as possible. Sign up for a reliable VPN service today and feel secure.

The cryptocurrency trading world is still under development today. The law and tax regulations are still unclear and it is better to be on the alert and keep your online trading activity secure and private.

How to use brokers that have banned your country

Some trading websites ban certain countries because of law situations there. If you still want to trade cryptocurrency and you are from one of such countries, you will have to subscribe to a secure VPN service. The servers will change your IP so that it looks like you are from another country.

Is the speed of a VPN connection sufficient?

If you need to trade daily, the speed of your internet connection is especially important when your quick reaction is needed. Trusted VPN services are known by the quality of their connection and their speed will suffice for crypto trading. When you choose a VPN service, pay special attention to its speed.

What are the best VPN services for crypto trades?

The two most important characteristics that you should pay attention to when you choose a VPN service for your crypto trading are a fast and stable connection.

For online trading, you will need a credible VPN service that doesn’t collect logs. It is important because if a service keeps logs that means they collect information about your online activities and that is no real privacy. You can use such services for other things but not for your cryptocurrency trading. If a VPN service saves the log files of its users it means they don’t provide real privacy.

You also might want to use a VPN service that accepts payments in Bitcoins so when you subscribe you remain anonymous. For your trading, you can use such a reliable VPN service like VeePN. Use modern VPN technologies and feel protected in all your online activities!

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