Why you need a VPN if you work with cryptocurrencies

Internet users are increasingly aware of protecting their security and anonymity. We live in a digital world where more and more economic transactions are carried out online. One of the most typical are online purchases using our credit cards, and then we carry out online banking operations. However, cryptocurrency operations are currently becoming popular. Cybercriminals are no strangers to this new situation and sometimes use the necessary means to get hold of them. In this article we are going to explain why you need a VPN to work with cryptocurrencies and not to be a victim of theft.

Why you need a VPN if you work with cryptocurrencies

The theft of cryptocurrencies, a serious problem

In the year 2021 we have seen how hacks and fraud cases related to cryptocurrencies have increased to almost reach 3,000 million dollars. However, although attempts are being made to reinforce security, this number of crimes continues to increase. On the other hand, there is a growing interest in cryptocurrencies, not only for buying or selling, but also for investments. In addition, many users are encouraged to participate because it is based on blockchain technology, which makes it a decentralized market and not regulated by anyone.

However, the world of cryptocurrencies has many threats related to hacking and security. For this reason, a good idea is to use a VPN to work with cryptocurrencies and thus be able to operate safely, as we will see below.

The risks of cryptocurrencies

Cryptocurrencies can be used like a traditional physical currency and can also be used for trading. In this regard, there are numerous markets located in different countries around the world that allow you to operate with different cryptocurrencies.

The problem is that cryptocurrencies are not regulated and have their own risks. One of them is that the transactions are irreversible and cannot be traced, which offers great advantages to cybercriminals. Some risks that we can observe are:

  • Fake cryptocurrency exchanges, so it is better to stick with reliable platforms to avoid problems.
  • Sometimes cybercriminals install mining software on the victim’s system and keep all the cryptocurrency for themselves. This is known as cryptojacking.
  • Double-spend fraud in which hackers make a copy of currency and use it for transactions while keeping the original.

The VPN to work with cryptocurrencies

A common misconception is that cryptocurrencies provide complete anonymity to the user, but that is not entirely true because hackers, governments, ISPs and more can track us through our public IP address.

Therefore, the VPN for working with cryptocurrencies is a good choice because it protects our data online through encryption and protects our identity. In this case, it is as if our data travels through a tunnel thanks to encryption and protects us from prying eyes.

Thanks to the use of a VPN we will be able to secure the traffic since it hides our public IP address and hides our original location by redirecting the traffic to another place that could be many kilometers away. They also offer us protection against phishing attacks, although it is true that it may only do so partially, it will block certain web pages that can be potentially harmful to us.

On the other hand, it will hide our activity from our ISP or Internet provider who might know what cryptocurrencies we buy or sell, the trading platform we use and when we log in.

What features should our VPN have

If we want to use a VPN to work with cryptocurrencies, it must meet a series of requirements:

  • Better that it be paid because the free ones sometimes end up selling your information.
  • That it has the Kill Switch function, in which if your VPN connection drops even for a few seconds, it will disconnect us from the Internet so that our data is not leaked.
  • Do not save our data from our online activity.
  • Allow subscription payment using anonymous payment methods such as cryptocurrencies.
  • Know the country of origin of the VPN and the countries in which it operates. Most of the top VPN providers are from countries without any mass surveillance programs, such as the British Virgin Islands, Switzerland, and Panama. We should avoid VPNs from countries with strong surveillance programs, such as the United States, Canada, or the United Kingdom, as they can hand over our data if asked to do so by surveillance agencies.

Finally, some quality VPNs that you can try are NordVPN, Surfshark, CyberGhost, PureVPN, and HMA VPN.