Do you trade Bitcoin and cryptocurrencies? then using a VPN is a must-have tool for securing your cryptocurrency transactions.
Contrary to popular belief, Bitcoin and most cryptocurrencies aren’t completely private and anonymous. In fact, each bitcoin (and many other cryptocurrencies) transaction is publicly recorded on the blockchain. Meaning, it’s easier for transactions to get tracked by almost anyone.
And you know what else?
Apart from the transactions being made public, other sensitive information can also be identified from a bitcoin address, such as: the exact date of each transaction, how much money is being sent and received, and even how much money the bitcoin address holder has!
Bitcoin is not anonymous
Everything is stored on the blockchain for eternity.
Bitcoins are far from being entirely anonymous. The addresses utilized are essentially used as online identities; you can literally see everyone’s transaction history and other sensitive information from just looking at their bitcoin address and blockchain explorer.
When you send or receive cryptocurrency transactions, each transaction is sent to Bitcoin’s nodes publicly and without any encryption. Even privacy-focused cryptocurrencies such as Monero, Zcash, and Verge don’t have encrypted and secure node traffic in place. Everyone observing the network such as Internet Service Providers (ISPs) can receive information on where transactions come from, and then they can possibly connect Bitcoin addresses to IP addresses, which can easily identify users.
These public addresses employed in Bitcoin transactions are saved in a distributed ledger known as the blockchain. Like all else that is online, cryptocurrencies will also regularly leave behind a trace that can be used to identify bitcoin users. Therefore, it is important to protect your Bitcoin transactions.
How can you do that?
For instance, considering that cyber crimes and data breaches are so widespread these days – it has grown to become necessary for everyone to be conscious of and prepared to deal with these situations.
You probably have spent a heap on cryptocurrency purchases but then a foolish error causes you to lose all of it. Maybe the simplest and most efficient way to protect your cryptocurrency and personal data is to use a reliable VPN service. You can download and install a VPN on all your electronic devices and utilize it whenever you’re online.
We at VPN Express, for example, perform all the necessary measures and technology to ensure the safety and security of our customers’ personal information and financial transactions. You can read our features page to learn how can a VPN help secure your digital life.
How can a VPN help Secure Cryptocurrency?
A Virtual Private Network (or a VPN) builds a secure private network to protect your internet browsing. This is done by separating your browser sessions from other users. Cryptocurrency users from all backgrounds can greatly benefit from using a VPN. For example, let’s say you’re out and in-need of a public Wi-Fi hotspot to connect online for trading purposes or to just check your crypto balance. While these public Wi-Fi networks can be very convenient, they can also be extremely unsafe. Hackers and cybercriminals tend to exploit these public networks in order to collect people’s private information such as credit cards and other sensitive information.
When you are executing cryptocurrency transactions online, there is a huge risk of your financial data getting exposed and becoming vulnerable to hacking attempts. You will need to guarantee that your financial information is fully-secure and protected from hackers who work tirelessly to get access to your financial data.
A virtual private network (VPN) helps solve those problems and provide a fully-secure and anonymous browsing experience by:
- Hiding your IP address and changing your current location
- Encrypting your traffic while you’re performing your financial transactions.
- Preventing ISPs and surveillance agencies from spying on your transactions
- Hindering hackers from getting a hold of your financial data
There are many ways to protect your sensitive financial data when performing cryptocurrency transactions online, but if you want peace of mind then a reliable VPN service will surely help secure and protect your financial data, as well as to ensure complete privacy and anonymity of your web browsing experience.