08 April 2019 14:21, UTC

The highly-anticipated assimilation of instant messaging app WhatsApp and crypto leader Bitcoin has finally arrived and, apart from immense enthusiasm, also brings with it a plethora of newfound security concerns. These concerns are not unfounded especially considering that there have already been a number of large crypto-related hacks this year including those of Singapore-based DragonEx and New Zealand entity Cryptopia . Apart from seeking added online safety this year, an increasing number of traders also prefer to remain anonymous during their dealings – something which can rarely be achieved fully without making use of a crypto-specific VPN.

VPNs changing crypto trading for the good

Traveling traders often make use of public Wi-Fi networks in order to access the internet. These public networks, unfortunately, make it increasingly easy for hackers to gain access to a user’s device and sensitive information. VPN-specific encryption protocols render a crypto-transaction’s data packets both inaccessible and cyber-proof with only the trader and the target destination being in possession of the relevant decryption keys. Any geographical limitations will also be rendered obsolete thanks to the scrambling of any foreign encryption efforts.

What other threats can VPNs protect crypto-traders against?

Although the largest risk pertaining to cryptocurrency is the vulnerability of online exchanges to hacking, it is not the only one. Offline wallets are still very cumbersome and prone to being hacked by Trojans. Bitcoin addresses are still not as anonymous as those of newer currencies with the account holder’s identify being revealed by simply connecting the address to an IP. Making use of a VPN can significantly reduce the risk of these and other commonplace crypto-related threats.

Benefits of using a crypto-specific VPN

Trading cryptocurrencies remains risky for many people despite constant advances being made in terms of online trader security. By making use of a crypto-specific VPN you can significantly improve the anonymity of your transactions, trade-related activities, and account balances. A crypto-specific VPN connection typically offers military-grade encryption that makes the chances of any hacker or governmental authority accessing your information highly unlikely. As fake trading exchanges and Initial Coin Offering (ICO) fraud is becoming more common it is critical to make use of a trusted crypto-centric VPN that does not store user logs and will not compromise user trust in any way.

Not all VPNs were created equal

While there are countless excellent VPNs available, not all will provide the security, speed, and performance levels required by crypto traders. CyberGhost is one of the most popular VPNs used by traders. The large server network consists of more than 1200 servers across more than 50 locations and boasts speeds that are considered to be above-average. The VPN also offers 256-bit encryption, zero-logging, anti-malware, and a highly-effective ad-blocker.

Explore your choices

Another very popular VPN to consider is NordVPN which is widely known to be one of the most secure VPNs to use. Not only does Nord have one of the largest VPN networks in terms of servers and locations, but it also supports up to 6 devices simultaneously. Nord also makes use of double VPN technology that routes your connection via two independent servers, upping the level of security considerably.

Unfortunately, there is no such a thing as ‘too much security’ when spending time on the internet trading cryptocurrencies. Making use of a VPN while trading online can reduce your risk of becoming another data-breach statistic significantly.

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