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Topic: VPN for cryptocurrencies? (Read 591 times)

member
Activity: 518
Merit: 23
★Bitvest.io★ Play Plinko or Invest!
September 12, 2020, 02:22:08 PM
#56
Somehow using VPN makes me feel safe while working with cryptocurrencies, like transactions, payments and buying bitcoins. I've been using surfshark vpn for almost 3 months now and I guess it's okay. I haven't really tried other VPN's though for I don't want to risk my wallet just to try other VPN. You know, like what's the point if I have my door lock for months and it's not even rusted. The largest risk with cryptocurrency is that online exchanges are vulnerable, as mentioned, to hacking they say. I know some may already experienced this kind of problem, and I wonder how you manage to solve this. As someone who hasn't encountered such, I think it's a good opportunity to ask someone who does and help me point out what other things to do to secure not just my wallet account but also my other personal accounts. Cool Cool

Using VPN's really takes a toll on your data usage unless you are on unlimited capping. VPN's are necessary if you somehow can't access several websites that are location based or you want to mask your IP address and add additional security but I guess the use of Virtual Private Networks on Blockchain is just making latency higher since Blockchain is already secured.
hero member
Activity: 2030
Merit: 402
September 12, 2020, 12:57:39 PM
#55
I haven't ever used VPN with cryptocurrencies. I don't think that it will be safer than normal. In fact, it could be more insecure compared to not using VPN. VPN can cause some weird problems on making a transaction etc. with cryptocurrencies too.
copper member
Activity: 28
Merit: 0
September 08, 2020, 03:05:35 PM
#54
VPN does not help you with anything. Your funds on exchanges will be safe as long as those exchanges do their job properly, not because you use a VPN. If anything, it might help you with data encryption when visiting several sites, but certainly not gonna help you if you type your seed carelessly  BTCBTCBTC
legendary
Activity: 3122
Merit: 1398
For support ➡️ help.bc.game
September 08, 2020, 03:00:17 PM
#53
Correct. At least VPN service can be considered  as  extra protection against $5-wrench attack. You don’t have to listen to those who say VPN is useless and doesn't make any help.  It do helps,  and you will better off with VPN than without it provided that you disallowed TCP/IP fingerprinting via WebRTC, javascript, etc.  VPN service is the first privacy stronghold that ( in addition) adds to security.

However, OP I think just makes it more complicated. OP's concern isn't really about VPN but the risks of storing funds in exchange or something along those lines. No need for this VPN thing if he cares about security and exchanges are freely accessible in their country. In other words, why make an exchange as a wallet if there's another way "more safe and secure".

Set extra layers of security by activating 2FA, storing the password safely, keeping safe the associated email and number to the account, etc.

Using a VPN is useful, no doubt about that but in terms of using it to access exchanges or trading platforms for the "safe" concern, it's not necessary as I mentioned, if we can access it freely in our location using our own ISPs.
copper member
Activity: 28
Merit: 0
September 08, 2020, 02:30:11 PM
#52
Use cold storage too. Unlined from the internet.
copper member
Activity: 28
Merit: 0
September 08, 2020, 06:50:25 AM
#51
I recommend you store your wallet on a system that's not connected to internet it would help enhence safety and out of hacks. And if you're to try other VPN it shouldn't be a free one because their security ain't guaranteed.
offline wallet isn't as simple as online ones tho, it's not as user friendly for the crypto newcomers.
sr. member
Activity: 1554
Merit: 334
September 08, 2020, 05:58:23 AM
#50
I haven't used any kind of VPN on my cryptocurrency activities and fortunately, I haven't experienced any kind of any scheme like a scam, hack, or something. Perhaps, because I am not that big investors. Anyway, if you feel secured on your VPN you were using then why not continue using it? Besides, the purpose of these VPNs is to let us access the website that is banned in a particular country which I think in favor of our colleagues.

I recommend you store your wallet on a system that's not connected to internet it would help enhence safety and out of hacks. And if you're to try other VPN it shouldn't be a free one because their security ain't guaranteed.

Agreed. If you do not feel secured for your funds then take it away online and store it on the hardware wallets such as Trezor and Ledger.
full member
Activity: 1484
Merit: 136
★Bitvest.io★ Play Plinko or Invest!
September 08, 2020, 05:31:58 AM
#49
Virtual private network(VPN) is usually used to change your location or with use other Interner Service Provider (ISP) also this is a good thing too if you want to visit some restricted website which is banned to your country.

in terms of cryptocurrency, this keeps you to make anonymous but still the account matters if you use a VPN with your wallet the transactions are kept with your account.


I was also planning on using VPN if crypto ever gets ban in my country but luckily it didn't and as for OP's concern about exchange accounts being hacked there are so many ways to avoid it.
You could always put up more security like OTP and 2FA so hackers couldn't easily access it and send your funds or you could just simple keep it clean only put up crypto when you are going to trade don't let your crypto sleep on your trading accounts.

Some of the exchanges and platforms today are very restricted in logging in with the other devices or account even you are in the same account but if you will change your location the Exchange will require you again to send a new verification code for the security of your account.

Before, I have experience using Mullvad VPN, PureVPN, ProtonVPN. These VPNs are very good.

Also I want to share the VPN usually used is Http injector and the Open VPN or VPN but it requires a configurations.
sr. member
Activity: 1372
Merit: 261
September 08, 2020, 04:58:32 AM
#48
I was also planning on using VPN if crypto ever gets ban in my country but luckily it didn't and as for OP's concern about exchange accounts being hacked there are so many ways to avoid it.
You could always put up more security like OTP and 2FA so hackers couldn't easily access it and send your funds or you could just simple keep it clean only put up crypto when you are going to trade don't let your crypto sleep on your trading accounts.
newbie
Activity: 14
Merit: 0
September 05, 2020, 08:57:49 PM
#47
Before, I have experience using Mullvad VPN, PureVPN, ProtonVPN. These VPNs are very good.
legendary
Activity: 2324
Merit: 1035
Not your Keys, Not your Bitcoins
September 05, 2020, 02:32:13 PM
#46
First of all you need to look at what YOU CAN control. Enable 2FA, use strong passwords, keep your private keys safe,  keep as little funds as possible on exchanges and/or trading platforms as they are the most exposed to hackers.

Second of all make a little bit of due diligence on the exchanges. Ask yourself this kind of questions:

Are they a well established exchanged with proven history?

Have they been hacked before? If yes, have they hardened their security and how they managed the previous situation?

Are they keeping the funds in cold wallets and in multiple locations?
copper member
Activity: 1106
Merit: 0
September 05, 2020, 02:16:52 PM
#45
VPN service is hide our location and ip address. Some of country against at Bitcoin forum. They are take some action. So vpn is so much helpful for some crypto related people.
member
Activity: 2044
Merit: 16
September 05, 2020, 08:16:51 AM
#44
The VPN service does not relies the safety of your account or wallet of not being hacked because it only hides your location and ip address. The safety should begins with proper precautionary measures like 2FA, strong passwords in your exchanges accounts and check website links all the time before logging in such accounts. Storing large assets on exchanges is not safe as well, even they have high grade securities hackers will always find ways to penetrate it. Rather than be sorry, it's best to store it on personal wallet.
hero member
Activity: 2170
Merit: 530
September 05, 2020, 08:12:52 AM
#43
A VPN is only needed if crypto is banned in your country.

I don't think it's safe to do that, if you are using a VPN on your exchange to access your account and trade your Crypto you better read their TOP or term of services if they allow the use of VPN, although some exchange has their verification system on the IP you are losing but still do check it in their support if they allow it.
And about your belief that VPN is only needed if Crypto is banned in your country that's not correct, you need to read more about privacy protections and the many benefits of using VPN not only for Cryptocurrency

https://www.lifehack.org/533452/5-significant-benefits-using-virtual-private-network-vpn
I agree with both of you. How can you transfer your banned crypto from your wallet if you're not using a VPN right? It is much safer than without a VPN. But when we are talking about exchanges some might have rules that against using VPN so let us assure that we read their Terms before using it.
sr. member
Activity: 882
Merit: 269
September 05, 2020, 08:04:39 AM
#42
A VPN is only needed if crypto is banned in your country.

I don't think it's safe to do that, if you are using a VPN on your exchange to access your account and trade your Crypto you better read their TOP or term of services if they allow the use of VPN, although some exchange has their verification system on the IP you are losing but still do check it in their support if they allow it.
And about your belief that VPN is only needed if Crypto is banned in your country that's not correct, you need to read more about privacy protections and the many benefits of using VPN not only for Cryptocurrency

https://www.lifehack.org/533452/5-significant-benefits-using-virtual-private-network-vpn

yep double check this or you will regret Smiley

and anyway there's lot people discuss about how secure the vpn is and talk that they're actually not secure you can search on youtube

but in my opinion if you want to make your transaction safer and untraceable u can start private coin like monero and other
I just wanna share it with you guys. I tried once to use vpn just to withdraw my coins in a paying campaign like bitcointalk. I did that because that particular campaign banned our country from using their campaign because they accused us as spammers and scammers which is not true.
copper member
Activity: 2156
Merit: 983
Part of AOBT - English Translator to Indonesia
September 05, 2020, 07:50:03 AM
#41
A VPN is only needed if crypto is banned in your country.

I don't think it's safe to do that, if you are using a VPN on your exchange to access your account and trade your Crypto you better read their TOP or term of services if they allow the use of VPN, although some exchange has their verification system on the IP you are losing but still do check it in their support if they allow it.
And about your belief that VPN is only needed if Crypto is banned in your country that's not correct, you need to read more about privacy protections and the many benefits of using VPN not only for Cryptocurrency

https://www.lifehack.org/533452/5-significant-benefits-using-virtual-private-network-vpn

yep double check this or you will regret Smiley

and anyway there's lot people discuss about how secure the vpn is and talk that they're actually not secure you can search on youtube

but in my opinion if you want to make your transaction safer and untraceable u can start private coin like monero and other
full member
Activity: 2324
Merit: 175
September 04, 2020, 10:58:43 PM
#40
A VPN is only needed if crypto is banned in your country.

I don't think it's safe to do that, if you are using a VPN on your exchange to access your account and trade your Crypto you better read their TOP or term of services if they allow the use of VPN, although some exchange has their verification system on the IP you are losing but still do check it in their support if they allow it.
And about your belief that VPN is only needed if Crypto is banned in your country that's not correct, you need to read more about privacy protections and the many benefits of using VPN not only for Cryptocurrency

https://www.lifehack.org/533452/5-significant-benefits-using-virtual-private-network-vpn
legendary
Activity: 3080
Merit: 1353
September 04, 2020, 09:54:01 PM
#39
Just to add though, if you are using VPN to circumvent the TOS of most exchanges about a certain country that on their ban list, then using it is not a good choice. If they found, chances are your account gets a perma ban and then you forfeit your crypto. So that's one danger, and then as someone has said, VPN could be a honey pot as well as it is not really secure and private. And if you are one of those who are very happy to see used VPN? Think again, because you become the product itself. And there are VPN that are being audited as well: (https://torrentfreak.com/nordvpn-shares-results-of-no-log-audit-181123/) and this: (https://techcrunch.com/2019/10/21/nordvpn-confirms-it-was-hacked/).

Also there is what we call, “Five Eyes“, “Nine Eyes“, and “14 Eyes” especially when discussing VPNs and other privacy tools.

Quote
Five Eyes

The Five Eyes (FVEY) surveillance alliance includes the following countries:

    - Australia
    - Canada
    - New Zealand
    - United Kingdom
    - United States

The Nine Eyes countries include:

    - 5 Eyes countries +
    - Denmark
    - France
    - Netherlands
    - Norway

The 14 Eyes surveillance countries include:

    - 9 Eyes countries +
    - Germany
    - Belgium
    - Italy
    - Sweden
    - Spain

https://restoreprivacy.com/5-eyes-9-eyes-14-eyes/
full member
Activity: 1190
Merit: 117
September 04, 2020, 06:45:57 PM
#38
Everyone has their own way of making transactions safe with cryptocurrency. One of them is using a VPN, but in my opinion
it is not enough to use a VPN to make our transactions more secure. We are obliged to do other things, such as use hardware
wallet to store our Bitcoin. Enable 2FA on every exchanges we use, and don't use unpopular exchanges for trading.
member
Activity: 268
Merit: 10
September 04, 2020, 06:19:07 PM
#37
Somehow using VPN makes me feel safe while working with cryptocurrencies, like transactions, payments and buying bitcoins. I've been using surfshark vpn for almost 3 months now and I guess it's okay. I haven't really tried other VPN's though for I don't want to risk my wallet just to try other VPN. You know, like what's the point if I have my door lock for months and it's not even rusted. The largest risk with cryptocurrency is that online exchanges are vulnerable, as mentioned, to hacking they say. I know some may already experienced this kind of problem, and I wonder how you manage to solve this. As someone who hasn't encountered such, I think it's a good opportunity to ask someone who does and help me point out what other things to do to secure not just my wallet account but also my other personal accounts. Cool Cool

The analogy with a lock is interesting, but there is a small problem with it. Imagine that you have a lock that has been showing its best side for many years, and suddenly at one point it is hacked and you take out everything that is available. Will you continue to use this lock? After all, he failed only once... think about it!

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