Why should you combine cryptocurrency trading with VPN? For you to understand the importance of using a VPN for all cryptocurrency activities, you need to understand what a VPN is and what exactly you can use it for.
This article focuses on helping you to understand the importance of combining a VPN with cryptocurrency trading.
Cryptocurrency is the digital gold of the modern era. It has witnessed a tremendous increase in activity since Satoshi Nakamoto invented Bitcoin back in 2009.
The creator(s) of Cryptocurrency wanted a digital currency for the following reasons:
- A digital currency to act as a superior alternative to fiat currency
- A digital currency which will represent a higher store of value and also without falling to inflationary forces
- Digital currency that will take away the bottlenecks and high transaction rates of transacting using fiat currencies.
All these and a lot more was achieved by Satoshi Nakamoto. Within a short while, several cryptocurrencies promising more features and functions were created to compete alongside Satoshi’s almighty Bitcoin.
Cryptocurrency drew more attention as people discovered its usefulness in anonymous and almost traceless transactions. This also got the government worried due to the increasing use of cryptocurrencies to finance shady deals ranging from drug trafficking, money laundering, illegal arms dealing, etc.
I was almost leaving out hackers who have smelt the golden opportunities offered by Cryptocurrency, which at this moment poses an impenetrable wall to their activities. Therefore leaving out only the chance of stealing from cryptocurrency holders.
Where does VPN come in?
VPN (Virtual Private Network) is a network that offers you privacy and protection while online. It does this by channeling data traffic from your computer through a virtual tunnel that protects your data from being leaked by hackers or government agencies as the case may be.
Basically, VPN is a virtual tool that makes you anonymous online by masking your IP, spoofing your location, and also encrypting your data.
Although cryptocurrencies are created based on anonymity and transactions done with Cryptocurrency are hard to trace. Never the less, your cryptocurrency activities are traceable back to you through your IP address, digital footprint, and location.
Cryptocurrency activities or transactions are done on public networks (e.g., café, school, or office Wi-Fi) that can easily be monitored without the use of a VPN. That is where a VPN comes in to protect your cryptocurrency wallets, transactions, and other activities.
Benefits of combining VPN with Cryptocurrency trading
Below are the benefits you derive from combining VPN services with Cryptocurrency
Privacy is a crucial factor when dealing with Cryptocurrency. Although Cryptography makes cryptocurrency transactions anonymous to a third-party, you’re not entirely invisible. Your activities are traceable to you through your ISP, trading sites, and the hacker situated there in the same café with you, in an obscure position whit a cup of coffee.
Also, if you live in a country where cryptocurrency activities are declared illegal, you would need a VPN to protect your privacy.
VPN protects your privacy by using virtual tunneling and encryption to protect your data from third parties trying to leak out your data. With VPN tunneling, you can protect your cryptocurrency activities from prying eyes, especially if you live in a country where cryptocurrency dealings are considered as illegal.
Another important channel through which your privacy can be compromised is your IP address. VPN effectively masks your IP address by using its IP address and location on your behalf, therefore, acting as a middle man.
Also, with a VPN, you can spoof your location to any location in the world. e.g., changing your location from the US to Sweeden, protects your privacy, especially if you live in a country that does not support Cryptocurrency or has outrightly banned all cryptocurrency activities.
There is an upward increase in Cryptocurrency related hackings yearly, as more hackers are looking to steal cryptocurrencies for a living. VPN encryption and tunneling protect you from standard hacker tools like phishing and spamming, which are targeted for stealing data from your browser. VPN tunneling and encryption encrypts all data traffic from your browser. You are therefore masking your details and other vital info from hackers using VPN.
What are the factors you consider before choosing a VPN service for your cryptocurrency transactions?
Before choosing a VPN service provider, here are three factors to consider
- Privacy policies. It is a well-known fact that VPN services located in European countries offer stronger privacy protection policies compared with their American counterparts. European countries like Switzerland, Belgium, Germany, Sweeden, etc. have strong privacy protection laws that protect your privacy. That puts your mind at rest, knowing that your anonymity is respected, and your privacy safeguarded.
- Logging Policy: before subscribing to a VPN plan, take great pains to find out if your VPN provider keeps logs. If it does, there is a chance that your privacy will be compromised when the need arises. It is advisable to use VPN services that do not keep logs of users’ activities.
- Jurisdiction: in some instances, countries of jurisdiction may require that VPN service providers keep logs of clients’ activities, timestamp, and traffic reports. Well, choosing a VPN with Jurisdiction in a country with strong privacy protection laws will ensure that your privacy is respected at all times.
How do you combine using a VPN with cryptocurrency transactions?
There are tons of VPN services available; however, RitaVPN stands out completely as one of the best VPN service providers. With RitaVPN, you can mask your IP address while dabbling into cryptocurrency transactions without fear of being snooped, or hijacked.
For cryptocurrency transactions, it is advisable to subscribe to any of RitaVPN premium plans for stronger privacy protection features and other services. These features and services are tailored to keep your cryptocurrency transactions anonymous and your wallet safe from hackers.
In four simple steps, you’ll be set to use RitaVPN services to protect your cryptocurrency trading on your system:
- Subscribe to any of RitaVPN’s premium plan of your choice
- Download and install the VPN app on your digital devices
- Change the server location to a location of choice and then;
- Connect to protect all data traffic from your system (your browsers inclusive)
In conclusion, combining VPN with cryptocurrency trading makes sure you stay ahead of hackers trying to steal your precious coins. Also, if you live in a country where cryptocurrency activities are mitigated against, you can safely trade in cryptos without hassles.