The Usefulness of VPNs in the Crypto Sphere
March 6, 2022
You may have heard in the past not to carry out online banking on an unsecured public network, and this should be no different when it comes to crypto. Using a VPN on a device, whether it be a PC, a tablet, or a mobile, encrypts the data, making it harder to intercept. This added layer of security also helps to protect a user from malware, viruses, and phishing attacks.
Although cryptocurrencies as a whole aren’t anonymous, a common misconception, they are however pseudonymous. Excluding the likes of Monero (XMR), Bytecoin (BCN), Zcash (ZEC), Dash (DASH), or Verge (XVG), all developed with the sole purpose of anonymity. With this said, the use of a VPN does allow investors to hide their IP address, preventing IP tracking from hackers, and, or government officials.
A VPN can also allow for crypto payments to be further pseudonymized, if done outside of an exchange that has know your customer (KYC)/ anti money laundering (AML) checks in place. However, even though the transaction itself may be pseudonymous, there will still likely be a trail leading to the funds that are held in a non-custodial wallet, whether it be Metamask, or Trust Wallet, depending on exactly how or where the coins were initially obtained.
With this said, not all VPNs are created equal, and if an investor wants to keep their anonymity, as much as possible, as well as the other benefits that a VPN brings, then a privacy-oriented provider should be used, that doesn’t store logs, and also provides a kill switch.
If privacy is a concern it would be unwise to use a free VPN. As they say, if you don’t know what the payment model of a service is, it means that you are the payment model, and will probably have your private data sold.
When using a VPN to access an exchange that is not locally available, or a VPN server is used from a country that an exchange doesn’t operate in, this can lead to your account being frozen. This is something that should be at the forefront of any investors mind when it comes to hiding behind a VPN, as you would not be able to access your funds. With this in mind, when using a VPN, you should always use a server from your country of origin, when it comes to logging into an exchange.
With this in mind, the question any crypto investor should be asking themselves is ‘do I need a VPN?’ If you find yourself travelling a lot, and using unsecured networks for trading, making crypto payments, or just checking your crypto balance, a VPN will help to give an extra layer of security, and keep both coin and wallet safe.
When it comes to picking a VPN provider, it can prove to be a bit of a rabbit hole. To make things easier, we’ve listed out all of the relevant features for our partner VPN providers below, giving one less thing to worry about, allowing more time to be spent doing the things that matter…investing in crypto!
 Surfshark |  Express VPN |  Nord VPN |
Bottom Line Our top pick for price and quality | Bottom Line Best for torrents on non-EU servers | Bottom Line Best buy for non-EU servers |
Price 1-month plan $12.95/£9.68 per month 6-month plan - US ONLY $6.49 per month (Equiv.) 12-month plan - UK ONLY £3.01 p/m (Equiv.) 24-month plan $2.49/£1.86 p/m (Equiv.) | Price 1-month plan $12.95/£9.99 per month 6-month plan $9.99/£6.42 p/m (Equiv.) 12-month plan $8.32/£7.71 p/m (Equiv.) | Price 1-month plan $11.95/£8.79 per month 12-month plan $4.92/£3.59 p/m (Equiv.) 24-month plan $3.67/£2.59 p/m (Equiv.) |
Country of Juristicion Netherlands | Country of Juristicion Brit. Virgin Islands | Country of Juristicion Panama |
Pros ✓ No connection logs ✓ 3,200 servers ✓ Servers in 65 countries ✓ RAM only servers ✓ Obfuscation ✓ 30-day guarantee ✓ Unlimited connections ✓ 24/7 customer support ✓ Ad and tracker blocking ✓ Independant security audit | Pros ✓ No activity logs ✓ 160 servers ✓ Servers in 94 countries ✓ RAM only servers ✓ Obfuscation ✓ 24/7 customer suppor ✓ Independant security audit | Pros ✓ Strict no-logs policy ✓ 5,300 servers ✓ Servers in 60 countries ✓ RAM only servers ✓ Obfuscation ✓ 24/7 customer support ✓ Ad and tracker blocking ✓ Independant security audit |
Cons ✗ Server speeds for torrents | Cons ✗ No ad and tracker blocking ✗ Only 6 connections | Cons ✗ Only 3 connections |
