Cryptocurrencies are digital assets used to purchase goods or services, similar to traditional currency. These digital assets are decentralized and controlled by no single entity. They offer a high level of privacy and are more secure when compared to traditional currency. Crypto has a constant marketplace as they are never close and are not constrained by time zones or business hours.
While crypto is advantageous in many terms, there are a few risks associated with it as well. Because of the popularity and lucrative nature of crypto, hackers are targeting digital assets despite their increased security. The rewards for cryptojacking are much higher than any other form of hacking.
As cryptocurrencies are decentralized, it is not possible to restore all the funds if the account is hacked. There is no one to call or report to. But, the use of a Virtual Private Network (VPN) will help in terms of Privacy, Security, and Access to International Markets.
Let’s understand more about VPNs for cryptocurrencies.
How does VPN work?
A VPN offers online privacy and security for cryptocurrency transactions. It masks the user’s IP address and encrypts their internet activity. It helps in keeping the browsing data anonymous and the network also includes applications for viewing country-restricted content regardless of the user’s location.
Bitcoins and cryptocurrencies are not anonymous but pseudonymous. KYC/AML verification makes it easier to track user’s financial activities. All transactions are stored on a distributed public ledger and they create an IP footprint on the crypto exchanges and other internet service providers.
With a Virtual Private Network, users can protect their identity from a hacker, government agency, or any malicious third party. Privacy is crucial when it is about managing finance. No one can steal the user’s funds if they don’t know who owns them. Hence, privacy is the ultimate security measure.
Cryptocurrency protocols are designed with the highest level of security and they use end-to-end encryption. Most cryptocurrency exchange websites use HTTPS end-to-end encryption so that no one can intercept user data unless it is exposed to any critical security vulnerabilities. A VPN acts as an extra layer on top of this security.
Why should you use VPN for cryptocurrencies?
There are various benefits offered by Virtual Private Network that will help the users:
- VPN encrypts the data transferred through the network, making it harder to intercept.
- It also acts as an additional layer of security against malware, viruses, and phishing attacks.
- It masks the user’s IP address to prevent any malware acts by hackers, government officials, and forensic analysis firms. Hence, it allows users to buy and sell crypto anonymously.
- A VPN does not store the user logs and helps maintain anonymity. Always choose paid VPNs over free ones because they are more reliable and secure.
NordVPN for Cryptocurrency
NordVPN is a company that offers online security and privacy features to its customers. They offer Virtual Private Network (VPN) to individuals and businesses and include thousands of servers to provide high-speed encrypted internet use. NordVPN is easy to set up, intuitive to use, and is exclusively for businesses and teams looking for privacy and security for cryptocurrencies.
It allows users to connect up to six devices and allow its usage on Windows, macOS, Linux, Android, and iOS. It is also possible to connect NordVPN directly to the wi-fi router to ensure all the activity is secure. The company offers competitive pricing of the VPN options where the monthly plan costs $11.95, two-year plan costs a total of $89 (or $3.71 per month).
The best part about NordVPN is that they also offer a 30-day money-back guarantee so that the users can try the product without any risk. They offer various payment options like Apple Pay, Amazon Pay, Bitcoin, and other cryptocurrencies. They also provide 24/7 support to their users.
NordVPN works the best for those looking to protect their personal online activity. It makes it easier to encrypt all team member’s accounts on a single portal. Users can protect every device connected to the network. It is crucial that individuals and businesses should analyze their requirements properly before choosing a Virtual Private Network for their cryptocurrency transactions.