It’s almost like the tech bubble; maybe even bigger than that considering how many people are investing in it and how fast. Cryptocurrency has taken the world by storm, and it’s natural that you might feel like getting a slice of the pie. Since hitting the peak at the end of 2017, digital currencies like Bitcoin and Ethereum have been some of the biggest and fastest-growing investment options around the world. But a little caution can help assuage the ardor. Since we at Astrill keep our focus on privacy tools, we cannot predict where this could go. The one (and maybe the only) thing that concerns us is security. And today we are going to help you better your chances of success with cryptocurrency. How? By showing you why it is important to use VPN for Bitcoin transactions.
To our credit, no one actually knows where this trend of cryptocurrency is going. With its volatile nature and recent extreme fluctuations, it can be challenging to maintain, or what in the cryptocurrency world is known as pump and dump or ‘hodl’, your investment. While we cannot advise you on that, we can very well show you how to protect your crypto transactions and also suggest a few great reasons why. Read on…
Protecting Your Cryptocurrency
The world of cryptocurrency is a shady one. It does not have a physical form, nor is it recognized by any trusted financial entity in the world. Compared to hard cash that you have in your wallet right now, cryptocurrency is like a cotton-ball version of that same hard cash but without any intrinsic value. Regardless, if you have invested in a cryptocurrency, it is wise to look at protecting them.
There are many reasons why protecting your bitcoins is important, some of which are:
- Comprehensive knowledge of blockchains and mining is required to successfully deal with cryptocurrencies
- Bitcoin transactions take place only digitally and without a ledger
- It is not a universally recognized currency
- It is a decentralized currency
- Cryptocurrency transaction failures do not necessarily fall under the purview of the law
- It is illegal in some countries
Without proper security walls in place, the chances of fraud and phishing increase. Therefore, it is important to protect your Bitcoins. Experts suggest two must-have security tools for Bitcoin users: Bitcoin wallets and VPN.
Bitcoin wallets are similar to normal money wallets that allow you to store your coins safely. These wallets use high-level encryption methods and multiple servers to protect your currencies. But a wallet cannot help you secure your transactions. You will still need an encrypted ‘tunnel’ to safely use your digital money, and that’s where Bitcoin VPNs come into the picture.
VPN for Bitcoin Transactions
Much like how the term ‘decentralized’ is used to describe Bitcoins, you are looking for a decentralized VPN to safeguard your transactions. When you use a blockchain VPN, all your on-line communication is routed through an encrypted, dedicated server hosted in another location. Here, unlike location hopping for personal computing, encryption is the key. You do not want a third party to view or gain access to your transactions, especially when it concerns digital currencies. What location you are doing it from does not matter much unless it is banned in your country.
VPN for cryptocurrency is like making an on-line dollar transfer to your mum – only you, the banks involved, and your mum know about it. When you don’t use one, all your relatives and a bunch of strangers (if they wish) know about it as well. Of course, it is a lot complex than that, but we believe we have got the point across.
In your hunt for the best VPN for Bitcoin transactions, let us help you and introduce you to Astrill VPN, the most anonymous VPN that is reliable and fast at the same time.