With the increased popularity of cryptocurrencies, people are making crypto transactions more than ever. Many people have stopped using conventional currencies to make online payments. Thus, using a cryptocurrency to make online payments hides your identity, which keeps you secure. However, hackers can still track you with your IP address.
That’s why it is essential to invest in a top-notch VPN service provider. While paying for VPN service, make sure they accept VPN bitcoin payments. Mysterium Network accepts VPN bitcoin payments, which means you don’t need to use conventional methods. It adds an extra layer of security.
Before we talk about how VPN secures your crypto transactions, let’s find out some other crypto security risks.
Security Risks Involved in Crypto and VPB Bitcoin Payments
Apart from hacking, users are also vulnerable to certain hacks. Unfortunately, wallet addresses are not completely anonymous.
If you don’t hide your IP address, you are giving your location and identity away. Also, people can get your personal details by connecting your IP address and wallet address.
Apart from hacking your hard-earned cryptocurrency, there are some other crypto scams. Let’s take a look at these scams.
Double Spending
A common scam type where a user spends the same coin for various transactions! These transactions may appear legitimate. Actually, there is only one legitimate transaction. It is a lucrative attack vector and you should never fall for it.
Fake Trading Exchange
Unfortunately, there are too many fake trading opportunities. Make sure that you only trade with reputable exchanges to stay out of trouble.
Cryptojacking
Cryptojacking is a process where your device is hacked and used for mining cryptocurrency. The hacker mines cryptocurrency using your CPU without your consent.
Hackers use various tools to install malware on your computer. Make sure that you use quality anti-malware software to protect your machine.
Phishing Attacks
Phishing attacks are common in every sector. Hackers are using every possible opportunity to make a hole in your pocket.
In 2020, hackers attacked 13 Twitter accounts for illegal gains. Using these accounts, they posted fake tweets requesting to send bitcoin to a specific wallet. In tweets, hackers promised to return double the cryptocurrency.
Hackers attacked some very popular accounts to make them legit. Few of the compromised accounts include Bill Gates, Warren Buffet, Jeff Bezos, and Barack Obama.
To ensure your safety, you must stay vigilant.
How VPN Makes Your Crypto Transactions Safe
When digital currencies were announced, their owners promised anonymity. However, it never happened. There are many ways to find your identity. Most of the time, hackers try to get your IP address. It allows them to get their hands on your personal details.
Hide IP Address
Sharing your IP address with anyone is a security risk for crypto users. VPN is one of the easiest ways to hide your IP address. It is more important if you want to hide your activity from government officials.
Moreover, you can bypass geo-restrictions. Some crypto exchanges are only available in certain countries. Due to security reasons, crypto exchanges have been banned in many countries. If you want to access restricted exchanges, you need to switch to a different location. And you can do it with a single click by using VPN.
Encryption
Apart from hiding your IP, VPN encrypts any data you send through any network. It becomes difficult to intercept and hack your accounts.
Probably, you already know about encryption. It is extremely difficult to break encryption and read your information. Hence, it makes your transactions more secure.
Kill Switch
Many times you lose a VPN connection due to various reasons. When you lose the connection, your data is no more encrypted, making you vulnerable. In this situation, the kill switch can rescue you.
As soon as you lose a VPN connection, the kill switch cuts the internet access. The automatic kill switch guarantees that your connection is always encrypted.
No Logs
While searching a VPN for crypto transactions, make sure that they don’t track your internet activity. A No Logs VPN doesn’t track your online activity including browsing, uploads, and downloads.
Unfortunately, some VPN providers don’t offer this feature. They sell your data to generate income. Such VPNs may charge less but they kill the purpose of using a VPN.
Things to Look in VPN Service Provider
While buying a VPN service using VPN bitcoin payment, you have to look for certain features. Without these features, you will compromise the entire purpose of using a VPN. Read the terms and conditions of your VPN service provider before making a decision.
- Accept cryptocurrency
- Strong encryption
- No logs
- Kill Switch
- IP leak protection
- Fast and reliable connection
- Dedicated customer support
Conclusion on VPN Bitcoin Payments
Cryptocurrencies are vulnerable to cyber-attacks. Thousands of hackers are trying their best to steal your money. As soon as they see a loophole, they take your money in no time.
To ensure the security of your crypto wallet, you should always access it with a VPN. With an added layer of security, you can browse the internet with confidence. You are not leaving your traces anywhere on the internet through hackers who can track you.
However, it is important to buy your VPN with VPN bitcoin. With conventional payment methods, you provide your real identity details. A VPN may not track your information on the internet but they do track your activity on their website. Hence, you should always access your VPN service provider’s website with a VPN. For this purpose, you can use any free-to-use VPN for a one-time transaction.
Get a reputable VPN with modern security features and stay secure.