People from all backgrounds have bought and traded cryptocurrencies in recent years, as many platforms have made crypto investments a breeze. Unfortunately, the investments have become a target for malicious hackers and oppressive governments. For example, some governments have taken steps to ban cryptocurrencies or have strict restrictions in place. If you have invested in cryptocurrencies, you must protect them and your online privacy with a virtual private network (VPN). Find out how this tool can secure your data.
Secure Your Connection and Activities
Most people get a VPN download to protect their online security and data security, as it will encrypt their internet connection and shield their online activities. For this reason, it is a must-download when investing in cryptocurrencies. All traffic is routed through an encrypted tunnel, hiding your IP address, and replacing it with a VPN server’s IP address. As a result, it can help you remain anonymous when buying and trading cryptocurrencies and prevent your investments from falling into the wrong hands. Of course, it is natural to worry about VPN leaks, which is why it is smart to perform a VPN test to ensure it’s working properly and won’t let you down. It will provide peace of mind that you’ll remain anonymous when investing in cryptocurrency.
Bypass Geo-Restrictions During Travel
As mentioned earlier, many countries have specific cryptocurrency restrictions in place. For example, crypto is currently banned in Egypt, Morocco, Qatar, and Bolivia, to name a few countries. Also, Canada prohibits crypto investments above $30,000 annually, with various exceptions. However, a VPN will help you bypass geo-restrictions, allowing you to access geo-restricted content from any location and helping you to invest without fear of eavesdropping. As a result, you can access services and trade with confidence when traveling across the globe.
Shield Your Data from Hackers
Unscrupulous hackers won’t hesitate to access your accounts and steal your data and cryptocurrency. A dependable VPN can secure your wallet to prevent losses. Don’t make the mistake of relying on exchange platforms to protect your investment, as various scandals have proved they’re not to be trusted. A respected VPN with a strict tunneling protocol and effective encryption will protect your finances and data, ensuring you remain safe, even when using an unsecured public Wi-Fi network.
Improved Anonymity
It would be naïve to believe blockchain provides 100% transaction anonymity. The operations performed for a crypto management and exchange platform will generate a unique wallet address before it is recorded in a public ledger. If a person knows your name and address, they can review your transactions, meaning your identity could be exposed. Also, many exchange platforms use Know Your Customer (KYC) to authenticate accounts, meaning you must input personal data and an identity document. Combined with a user’s IP address, a hacker could determine your location and potentially identify who you are. Keep your sensitive information out of reach by introducing a trustworthy VPN, which should have obfuscated servers and kill switch functionality.
Conclusion
A VPN is crucial when buying and trading cryptocurrencies. There is a misconception that your identity is protected, as KYC can lead to data exposure that pose a risk to your investments and online activities. A VPN can help you remain anonymous, as it has an encrypted tunnel to shield your data, online behavior, and investments. Also, it can help you bypass geo-restrictions, which is ideal if you’re buying or trading in countries where crypto is prohibited or has strict laws you must adhere to each day. However, it is wise to routinely perform a VPN test to identify leaks and ensure your data and activities are safe and secure.