VPN for cryptocurrency exchange. Confidentiality with GnuVPN and saving altcoins
Investors and entrepreneurs dealing with cryptocurrencies, opening crypto wallets and making transactions, are extremely concerned about the security and confidentiality of their connections. Unencrypted traffic can create the risk of wallet numbers and credit card leaks, as well as transaction data. Traditionally, security and confidentiality are ensured by VPN.
The modern market offers a multitude of VPN providers. Usually, users are only interested in changing their IP address, which allows them to access blocked resources. However, some resources block VPN connections, and in this case, a product is needed that the firewall does not recognize, allowing access to blocked resources.
But for users of cryptocurrency exchanges, secure connections are much more important. When an exchange client connects to it via a VPN protocol, a secure communication channel is created between the provider’s server and the exchange’s server, and all data is transmitted in encrypted form. In terms of protection, cryptographic algorithms in this case are comparable to banking and military algorithms. This is crucial, as in 2021 alone, $3 billion worth of cryptocurrencies were stolen as a result of hacking attacks.
How VPN is Useful for the Cryptocurrency Exchange
Traders and ordinary investors in cryptocurrency markets trade currency pairs, conduct exchanges, and take and provide loans. A reliable connection is sometimes necessary throughout the entire trading day. Speed and security are more important than hiding the real IP. A cryptocurrency exchange is an organization that operates in the cryptocurrency trading market and is often under the control of US financial market regulators. This creates difficulties for exchange clients when registering and verifying their identity. It is only possible to work on the exchange under your own name, anonymous transactions are not allowed, and the IP substitution function becomes unnecessary. The important task is to protect traffic and confidentiality, and the choice of a VPN provider becomes relevant.
There are several requirements for a VPN provider that allow traders to address their needs:
• High level of connection security;
• Affordable payment options;
• Availability and accessibility of mobile applications, the ability to connect multiple devices simultaneously;
• Complete refusal to store user logs and hand them over to law enforcement agencies.
The last parameter is crucial, as several VPN providers have begun losing customers when it became known that they were cooperating with government agencies.
The traffic encryption offered by VPN protects:
• Personal data and scans of documents, identity and residence proof, transmitted through communication channels;
• Information on transactions and counterparties;
• Confidential data on income received;
• The location of the cryptocurrency exchange client.
This reduces the risk of becoming a victim of hackers during information exchange with the exchange. Another reason for using VPN is less common but still exists. Some altcoins (this does not apply to bitcoins) cannot be traded by citizens of certain countries due to restrictions. Changing the IP allows changing the blockchain’s location, but if the exchange has a system for verifying identity, this tool will not work.
GnuVPN is a relatively new provider registered in Portugal, where the Internet traffic is less controlled by authorities compared to, for example, the United States. It has been operating in this market for 5 years, and users rate the provider quite highly due to the following advantages:
• Low cost of use. With a long-term package, the starting price is $4.5 per month. An annual subscription allows saving up to $60;
• There is a mobile application;
• Servers are located in 25 countries around the world – in Europe, Asia, South and North America, providing high connection speed. The company is constantly opening new servers;
• The company has completely discontinued keeping user logs, which protects their data;
• A referral program has been implemented, allowing users to earn additional rewards by inviting friends or colleagues involved in cryptocurrency trading;
• High level of security;
• No speed limitations;
• Up to 5 devices, including mobile ones, can be connected to one license;
• There is a one-day trial version. Only an email address is required for connection.
However, the breakthrough solution that has allowed for a quality change in the cryptocurrency trading process is the development and implementation of the SoftEther protocol. Among VPN providers, this protocol has not yet spread in its updated version, which speaks to the uniqueness of the company’s services. The functionality of this protocol includes:
The ability to establish multiple connections through one protocol, eliminating the need to use multiple separate VPNs
The connection will be invisible;
The connection does not have VPN signs, it resembles regular internet traffic, which is extremely convenient in cases when the server being accessed blocks VPN connections.
The protocol provides a stable connection without disruptions, which is crucial, for example, when conducting cryptocurrency transactions, real-time stock trading. Speed, reliability, security from all perspectives, and the ability to work simultaneously on multiple devices generate deep interest from crypto traders towards the provider.
The introduction of the new protocol has allowed for the optimization of various tasks that arise when using VPN for cryptocurrency trading. The work has become safer and simpler, while the service does not have the main drawbacks inherent to free VPNs, such as the lack of personal privacy and speed limitations.
Payment for the provider’s services can be made through various methods, which is relevant for users from Russia who have encountered the blocking of Visa and MasterCard payment card systems. For example, in addition to the standard Visa and MasterCard payment methods, the subscription can be paid with bitcoins, PayPal, USDT, P2P transfers (in rubles, rupees, and tenge). This is convenient as the payments do not go through credit card transaction processing centers. Payment instructions are available on the provider’s official website.
Another advantage of the mobile application is the ability to download and make payments from various stores. Particularly on traditional platforms such as the App Store and Google Play. The computer program can be downloaded from the official website.
By installing GnuVPN, one can fully secure cryptocurrency operations and enjoy all the benefits of a confidential connection. New users are provided with one day of free connection to assess all the advantages of the service.