Security, Privacy, and VPNs: The Importance of VPNs in Cryptocurrency
If you’re experienced in cryptocurrency and the Internet at large, chances are you might be somewhat familiar with the concept of VPNs.
Many people who have used cryptocurrency exchanges have used a VPN at some point to secure their internet connection. Since there is a lot of money floating around in cryptocurrency markets, organized crime soon follows.
It comes as no surprise that gaining access to someone’s cryptocurrency account and wallet can be very lucrative for criminals – hackers are very keen on getting their hands on your valuable login details and wallet information.
Luckily, there are some relatively simple safety measures you can implement to safeguard your digital currency transactions. One of these safety measures is the use of a VPN. In this article we’ll discuss for whom a VPN could be wise and how to compare VPN providers to find one which fits your needs.
Getting a VPN for Cryptocurrency is Paramount for Secure Transactions
A VPN can be a vital piece of technology, particularly when using public Wi-Fi networks. A VPN creates a secure connection between you and the rest of the internet, encrypting all your data traffic in the process. How does it work exactly? By installing a VPN application on your computer, tablet or smartphone, you can connect to special VPN servers.
Most VPN providers have thousands of servers across the globe. When you connect to such a VPN server, a secure connection is established. The VPN encrypts all your data and internet traffic, sends it to the VPN server, and from there a connection with the rest of the internet is established.
Public networks are notorious for their security flaws, and experienced hackers generally have no issues intercepting your traffic or breaking in on your device when you’re connected to a public Wi-Fi network. Unless you use a VPN that is, because the encryption of most modern-day VPNs is incredibly robust.
Even with the fastest supercomputer in the world, a hacker would need thousands of years to crack a VPN’s security, since most VPN providers use 256-bit encryption these days. Where a skilled hacker would normally have no issue accessing your device and intercepting your internet traffic, a VPN makes sure hackers are unable to access your device through the network. If they do manage to intercept any data, the data is rendered useless to them because of the heavy encryption; the data is completely unreadable to them as it is one big encrypted mess.
This also goes for your internet service provider by the way. Normally they see everything you do online, but when you use a VPN, your internet service provider cannot monitor your online activities anymore due to the encryption. And the good thing is, to you as a VPN user, nothing really changes.
The VPN software encrypts all traffic you send and receive, but you don’t notice this at all. The VPN simply runs in the background, while your connection is far more secure and you can use the internet as you would normally do.
A VPN offers additional privacy
A VPN is also a great tool for privacy since it hides your IP address for the outside world. Normally, the rest of the internet recognizes and identifies you based on your personal IP address.
When you connect to a VPN server, you are appointed the IP address of the VPN server instead of your own IP-address. Governments, hackers, the websites you visit, online marketeers; they will no longer be able to link your activities to you as a person through your IP address. This gives you some privacy and anonymity when browsing, also on crypto exchanges.
A VPN also serves as a tool for internet freedom
The internet is not freely accessible everywhere in the world. Based on your geographic location, various websites, crypto exchanges, streaming services or social media could be inaccessible.
This phenomenon is called geo-blocking, and it’s a form of online censorship. By connecting to a VPN server in a different country, you can access the internet as if you were physically in that country.
So, if for example a certain website is blocked in your country, you can connect to a VPN server in a country where that website is in fact accessible. When you subsequently try to access the site, you will no longer be blocked because you are using a foreign IP address which is granted access.
Choosing a VPN suited to your needs
When you are in the market for a VPN service, or want to objectively compare VPN providers, a bit of research does not hurt. A couple of key aspects to consider when adopting a VPN provider are the following:
Safety and privacy: For starters, you need a VPN provider that offers solid encryption protocols and which doesn’t keep logs (meaning the provider does not store some of your online actions when you are connected to the VPN servers).
Speed: One known problem when using a VPN connection is the loss of speed since your data is encrypted AND travels through an additional external server. Since internet speed can be vital when it comes to flash trading, choosing a VPN with fast servers is a must.
User-friendliness: The VPN application has to be manageable and simple. Furthermore, the VPN provider has to offer quality technical support when issues arise.
Server network: The VPN provider you choose should ideally have a large and a diverse network of servers in countries and regions, offering speedy connections without compromising the performance.
The above article is a sponsored post that meets our editorial guidelines.
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ABOUT THE AUTHOR
ABOUT THE AUTHOR
Alex Moskov is the Founder and Editor-in-Chief of CoinCentral. Alex leans on his formal educational background (BSBA with a Major in Finance from the University of Florida) and his on-the-ground experiences with cryptocurrency starting in 2012. Alex works with cryptocurrency and blockchain-based companies on content strategy and business development. He privately consults entrepreneurs and venture capitalists on movements within the cryptocurrency industry.
His writing has been seen in The Hustle, VentureBeat, Yahoo Finance, Harvard Business Review, and Business Insider. His articles on CoinCentral have been cited on publications like Forbes, TechCrunch, Vice, The Guardian, Investopedia, The Motley Fool, Seeking Alpha, and more.
He also regrets not buying more Bitcoin back in 2012, just like you.
You can connect with Alex on Twitter.