Best VPNs for Bitcoin

Last updated: October 30, 2019
David Balaban

David Balaban

David Balaban is a computer security researcher with over 15 years of experience in malware analysis and antivirus software evaluation. He has published his articles on such online media as Hackernoon, Tripwire, Infosecinstitute, and Cybrary.

Since the introduction of Bitcoin in 2008 tens of thousands of people have embraced it as a legal tender. Bitcoin has been invented by Satoshi_Nakamoto. It is a decentralized virtual currency. The conducted transactions that use peer to peer technology and there is no intermediary necessary.

Have a look at the list of the best VPNs for Bitcoin in 2019:

  1. NordVPN – fast software for Bitcoin with unlimited bandwidth and
  2. Surfshark –  provider is known for its beneficial location (the BVI) and diverse server park.
  3. Express VPN – secure provider with a huge amount of servers all around the world.
  4. CyberGhost – reliable and not expensive VPN offering 256-bit encryption.
  5. PIA VPN – fast and handy app for any device for secure Bitcoin transactions.

People buy services and products using bitcoins. The use of bitcoins is now getting globally adopted, because more than 100,000 people and businesses use it. Bitcoin is regarded as the first Cryptocurrency. Read our cryptocurrency guide to learn more about Bitcoin.

It has had to cope with much criticism throughout its existence. Like other currencies, bitcoin has faced several challenges. It is due to the fact that some criminal activities, especially in the ‘darknet’ markets, are just some of the threats that a bitcoin trader or user has to deal with.


Why Do You Need A VPN For Bitcoins?

Bitcoin transactions have increased tremendously both in peer to peer trading as well as online currency trading. More and more people are getting pulled into the crypto currency trading platform. This is incredibly good for many technology savvy people. Here are the advantages of a VPN service usage:

  • Privacy and data protection – There has been an increase in the number of hackers and other prying eyes online. A VPN is the ultimate solution to all these threats because it encrypts all sent and received data. Generally, a 256-bit encryption is used. As for privacy, whether you are using a public Wi-Fi hotspot or a private Internet connection, good tunneling protocols of data guarantees no snooping eyes get closer to your data.
  • Surfing the Internet without limitationsGeo-restriction is one of the greatest reasons why people are not able to enjoy the Internet equally. While using a VPN, you will be able to connect to an Australian website while being in Egypt or Lithuania. Bitcoin VPN no logs feature is something that allows you to do a transaction from Germany while appearing as though you are in Britain. You shield your IP address.
  • Downloading becomes easier – Few people can doubt that a VPN is an ideal solution to all slow online streaming and other Internet problems relating to streaming. With a good VPN, you are able to download every other file or app that you have purchased using your bitcoin account fast. Online streaming of music and videos is also made extremely easy by using a VPN.

What Should Be Brought To Notice While Choosing A VPN For Bitcoin?

Bitcoin is a crypto-currency and as much as any other currency it calls for defense. One of the best up-to-date technologies for one’s online protection is a high-quality VPN service.

 But there are few people who can select a VPN having no doubt. So, what are you to turn attention to while choosing a VPN service for Bitcoin?

  • As being a protective measure a VPN service should secure you from any uncontrolled interference. That means that a VPN you have chosen should create a great defensive tunneling through which all your transferring data becomes invisible for any adversaries.
  • If talking about your anonymity, it should be mentioned that the encryption tunneling created by your VPN has two ‘ends’. On the one side of the tunneling is you and your computer (or any other device you use) and on the other one is your VPN provider. Thus it is extremely important to find the most reliable VPN service to provide the highest level of your anonymity without any logging storage.
  • Speaking about speed, it should be noted that any VPN usage reduces the average speed performance of your Internet connection. But choosing a VPN for bitcoins with unlimited bandwidth you can exponentially enhance it.
  • Also it is recommended to look for a service, which is easy to install with friendly interface in your native language and timely support from the technique group. That’s why it is useful to read the comments its users leave and study the website’s information.
  • When talking about price, of course you should rely on your material possibilities. But don’t forget that free VPN service for bitcoin won’t supply you with high level of security, privacy and much less anonymity. So, sometimes it’s better to cut back on some other spending that a VPN service. Moreover, a free VPN monetize business by advertizing and even selling some confidential information to some third parties.
  • The payment methods used by a VPN you choose are another important aspect. If you are looking for a VPN for bitcoin it will be interesting to you to know whether this service support the crypto-currency, because such way of payment adds even more anonymity into your future work with it.

Here Are The Best VPNs For Bitcoin That Can Match The Discussed Needs:

A VPN is seen as the ultimate solution to any online threats that a person using bitcoin encounters today. Here are some of the best bitcoin VPNs out there on the market:


Have you chosen a VPN to use with Bitcoins? Great!

Still, if you are a beginner in bitcoins, this short cryptocurrency guide is just for you:

What is cryptocurrency?

redline

To begin with, let us find a plain and clear cryptocurrency definition.

The notion “cryptocurrency” came into the world in the year of 1998, when the developer of Crypto library Wei Dai introduced a new form of currency based on cryptography.

Cryptocurrency – decentralized digital financial assets that make its owners secure and anonymous while transactions.

The financial sector became severely targeted in 2009. 2009 is the official year when Bitcoin started functioning.

What was the purpose to use cryptocurrency?

As digital assets appeared to be wide-spread, the number of cyber attacks increased. The financial sector became severely targeted in 2009.

Just have a look at real facts:

Citibank lost millions of dollars after cyber attacks in 2009.

On July 4 NYSE website and Yahoo finance section underwent the cyber attack.

Moreover, cryptocurrency allows conducting transactions anonymously. Trading and financial transactions undergo the most frequent and severe attacks.

IndianExpress reports that criminal activity in the cyberspace became the reason for more than 1/3 companies to lose revenue in 2016.

The investigation conducted in 2009 by Semantic showed that 43% of 2100 companies surveyed lost about £1.2 million.

These and many other facts led to the necessity to work out the most secure method of payment. Cryptocurrency payment is considered to be the safest. Moreover, cryptocurrency allows conducting transactions anonymously.

Difference between cryptocurrency and fiat currency

When one reads or hears the word currency, a banknote comes to the mind. But in the period of digital technologies, the state of things is changed.

Fiat is a standard centralized currency like dollars, pounds, euros, etc.

It’s clear.

But what about cryptocurrency? What differs it from fiat money?

Here are the answers:

  • First and foremost, cryptocurrency exists electronically only!
  • Second, the cryptocurrency rate does NOT depend on the national economy of any country.
  • Third, this type of currency is anonymous. All information about cryptocurrency holders is a number of figures and characters.
  • Forth, direct transactions allow saving on commission fees. 

How does cryptocurrency work?

redline

Just as we start talking about cryptocurrency, blockchain is the next thing that comes up.


But what is blockchain?

To put it simply, Blockchain is the database that contains information on transactions, trading, and contracts within the system introduced in cryptographic form.

The blockchain is the basis of any cryptocurrency. It contains the interconnected blocks of information. It is impossible to delete or change the data stored on these blocks, which is one of the main distinctive features of Blockchain technology.

Blockchain was worked out by Satoshi Nakamoto in 2009. However, nobody knows if Satoshi Nakamoto an individual human being or a group of people united by one goal – cryptocurrency development. But it is evident, that he or they spent thousands of hours to create Blockchain.

This decentralized database doesn’t possess a dedicated server or a computer hard drive to store information. It is divided into small pieces of information and kept by the participants of this network.

In simple words, all cryptocurrency holders store this information.

Important! It is impossible to change the single block notwithstanding the desire of its holder to crack it. The changes in Blockchain are possible only in case someone will manage to hack all the blocks in a chain, however, in practice is impossible.

The prefix “crypto” is determined as the encryption and cryptographic hash-function. In such a way, every cryptocurrency holder has both private and public key.

The private key underlies the transactions and provides cryptocurrency delivery from one person to another.  In its turn, the public key is used to verify the transactions of other Blockchain peers.


How to use cryptocurrency?

It is difficult to overestimate cryptocurrency value, but not everyone understands how to use it.

We’ll describe how to use cryptocurrency in a matter of minutes!

It is required to use e-wallet to use cryptocurrency like Bitcoin, Ethereum, Ripple and other. There are 2 variants to create cryptocurrency wallets:

  • Download the client to the hard drive of the device.
  • Online cryptocurrency wallet.

One of the most popular Bitcoin wallets one will find on blockchain.info. The registration takes no more than a couple of seconds.

One of the most popular Bitcoin wallets one will find on www.blockchain.info.
 


But what are the reasons to invest in cryptocurrency?

The reasons to use cryptocurrency are diverse: from making purchases to keeping the money. Let us enumerate the reasons for cryptocurrency use:

Reason #1

Payments. Cryptocurrency allows accomplishing anonymous and quick transactions between individuals or making purchases on the Internet.

Reason #2

Money keeping. It is 99% impossible to hack cryptocurrency wallet. Thus, your virtual currency is under the protection of up-to-date technologies.

Reason #3

Investment. Bitcoin and other well-known types of cryptocurrency allow making money by means of fluctuations in the rate of exchange.

Reason #4

Business. Starting a business from scratch many companies raise the finances by means of ICO (crowdfunding). For example, ICO project “Filecoin” raised $52 million in the presale. 


Top 10 cryptocurrencies of 2018

redline

It is well-known that cryptocurrency has shown tremendous uplift in prices in 2017. At the same time, the complexity of mining reached its peak.

It is well-known that cryptocurrency has showed tremendous uplift in prices in 2017.

Mining difficulty chart↑

As BitInfoChart reports, Ethereum mining process is the most difficult. Bitcoin and Bitcoin Cash take the 2nd and the 3rd positions accordingly. At the same time, the cryptocurrency market capitalization has broken through $325 billion in February 2018.

Cryptocurrency market capitalization in 2018

Cryptocurrency market capitalization

There are hundreds of cryptocurrencies today, but let’s have a closer look at the most prominent:


Bitcoin

Bitcoin (BTC) history dates back to the year 2009 when Satoshi Nakamoto introduced it to the world. Being the first decentralized payment network, Bitcoin capitalization is over $140 billion today.

The ways to get Bitcoin:

  •  as payment for the goods or services rendered;
  •  buy Bitcoin in Bitcoin exchange;
  •  Bitcoin mining;
  •  Bitcoin faucet;
  •  find Bitcoin local dealer.

Bitcoin advantages

Bitcoin disadvantages

No limits for payment

Not all people and countries accept Bitcoin as currency

Facility to choose interchange rate

Currency movement

Reduction of risks for entrepreneurs

There are functions that need further modification

Only users control their transactions

 

Payments from every corner of the world, at any time

 

High level of confidentiality for transactions

 

Bitcoin may be compared with credit cards and online banking networks. Thus, Bitcoins are used to pay for services, make purchases in online shops and what not. Besides, it is possible to trade Bitcoins for Casascius coins. 


Ethereum

Being described in 2013 by Vitalik Buterin, Ethereum was introduced in 2016. Ethereum is both a cryptocurrency and decentralized environment that changed IT sphere. ETH obtained the status of the 2nd most popular after Bitcoin.

Ethereum advantages

Ethereum disadvantages

Support of various programming languages and algorithms that makes it universal

It possesses the elements of centralization

The platform undergoes regular modifications and updates

Vulnerability is observed

Ethereum is an open platform

Lack of documentation complicates the platform interaction


Ripple

Ripple positions itself as a cross-border payment system for banks. Transaction speed is 4 seconds (compare: 3-5 days for the SWIFT system). The developers claim that it is possible to conduct up to 1500 transactions per 1 second, which allows comparing it with Visa. 

Ripple advantages

Ripple disadvantages

No commission

Ripple Labs owns 67.75% tokens, which may lead to the devaluation

Makes banking system more efficient

The decrease of traded value

Super-high-speed of transactions

 

It’s possible to buy Ripple on 14 cryptocurrency exchanges

 


Bitcoin Cash

Bitcoin Cash appeared in August 2017 as a result of Bitcoin hard fork. BTC holders with private keys got Bitcoin Cash free.

Bitcoin Cash advantages

Bitcoin Cash disadvantages

The improved 8 MB technology increases the speed

It doesn’t solve the problem of transaction malleability

It is positive towards hard forks, useful for protocol updates

Commission of $0.05 – $0.10

Bitcoin Cash is supported by Bitcoin.com, CEOs, Juhan Wo, and Roger Ver

 


Cardano

Cardano project was initiated in 2017 by a group of cryptocurrency enthusiasts, investors, and entrepreneurs from Asia.

Currently, Cardano is a blockchain that functions like cryptocurrency and platform for smart contracts. Cardano is based on one of the most secure programming languages – Haskell.

Cardano advantages

Cardano disadvantages

The blockchain is divided into 2 layers: for coins distribution and for smart contracts

7 transactions per second

The most secure programming language is used

 

ADA is an official means of payment

 

The revenue depends on the miner’s account balance and the number of conducted transaction

 

The project attracts new investors, so the increase in rate is expected

 


Litecoin

Litecoin appeared as Bitcoin fork. At the same time, Litecoin is known as a P2P electronic payment system that uses homonymic cryptocurrency.

As for February 7, 2018, 1 Litecoin costs $138.34. This cryptocurrency may be:

  • exchanged into Bitcoin or fiat currency,
  • used to pay for services and goods on the Internet.

Litecoin advantages

Litecoin disadvantages

The block is generated within 2.5 minutes

Fluctuating currency rate

The process of mining is simplified and requires less energy

Litecoin is not accepted in the majority of countries

Used “lightning network” protocol serves to increase transactions scalability

In the case of e-wallet loss, it’s impossible to get LTC back

Total anonymity of transactions

 

The system is decentralized

 


NEO

NEO is known as a non-commercial blockchain project that combines blockchain technology and digital identification system. It was founded in the year of 2014 as Antshares project but renamed three years later as NEO.

NEO advantages

NEO disadvantages

Great functionality – 10 000 transactions per second

Lack of anonymity and decentralization

DBFT protocols protect the system against cyber attacks

 

No commissions

 

Miner’s capacity does NOT influence mining

 


Stellar

Stellar is the technology that allows conducting transactions between individuals, companies and financial institutions. It is dead easy therefore people get access to the financial business, therefore people get access to a financial business. 

Stellar advantages

Stellar disadvantages

It supports thousands of transactions per second

Withdrawal fee

Decentralized distributed database

Minimum balance of 0 Lumens is required

Facility to create a big number of micropayments

 


NEM

NEM stands for New Economy Movement. This cryptocurrency is based on Java and JavaScript. NEM is compatible with Linux, macOS, and Windows. NEM blockchain is realized through an open blockchain network Mainnet and commercial blockchain network Mijin tested by financial institutions and Japanese private companies.

NEM advantages

NEM disadvantages

The changes of cryptocurrency rate are not expected, as emissions are  not planned

NEM is still under development

The blockchain technology is multifunctional

 

Reliable protection against hackers

 

A flash-like speed of transactions

 


EOS

EOS project reminds Ethereum, as it is the platform for smart contracts hosting. EOS is the platform used for decentralized projects development. Token holders can invest coins into apps development inside the platform network.

EOS advantages

EOS disadvantages

EOS algorithm provides a stable asynchronous connection

EOS is new, thus insufficiently explored

Facility to conduct a huge amount of transactions in record-breaking time

 

The beginning of 2018 is marked by cryptocurrency market recovery, after top 20 cryptocurrencies lost their price on December 22, 2017. In general, the cryptocurrency market capitalization reached $325 billion. Ripple and Ethereum are at the head of the market stabilization and growth, while Bitcoin loses its positions. 


Top 10 cryptocurrencies of 2018 in figures:

Cryptocurrency

Year

Algorithm

The maximum number of coins

Bitcoin

2009

SHA-256

21 000 000 BTC

Ethereum

2016

Ethash

103 862 556 ETH

Ripple

2012

RPCA

100 000 000 000 XRP

Bitcoin Cash

2017

SHA-256

21 000 000 BCH

Cardano

2015

Ouroboros

45 000 000 000 ADA

Litecoin

2011

Scrypt

84 000 000 LTC

NEO

2014

DBFT

100 000 000 NEO

Stellar

2015

Scrypt

103 669 352 049 XLM

NEM

2015

POI

8 999 999 999 XEM

EOS

2017

POI

1 000 000 000 EOS

 


Cryptocurrency status in different countries

redline

“Bitcoin at this time plays a very small role in the payment system. It is not a stable source of value, and it does not constitute legal tender.”

J. Yellen, chair of the Federal Reserve

The legal status of cryptocurrencies varies in different places around the globe. There are the countries where cryptocurrency transactions are authorized. In other countries, Bitcoin transactions are not allowed for the banks but may be conducted by individuals.

Let us study in detail the legal status of cryptocurrencies worldwide.

Cryptocurrency in Australia

Cryptocurrency transactions are defined as barter transactions in Australia. The companies dealing with digital currency are obliged to keep tabs on such transactions. Tokens are consigned to be an ordinary income and are estimated at Australian dollars.

Cryptocurrency in Canada

Bitcoin transactions became legal in Canada in September 2017 when BCSC in Canada listed a Bitcoin investment banking firm officially. Still, cryptocurrencies aren’t true forms of money in the country.

Cryptocurrency in China

Being the country with high economic advance, China plays an important role in the cryptocurrency sphere. According to Goldman Sachs report, 80% of Bitcoin traded value accrues to yuan. In spite of the fact that the People’s Bank of China banned payment with cryptocurrency (Alipay and Tencent are forbidden as well), substantial cryptocurrency growth is observed.

Cryptocurrency in the European Union

The legal status of cryptocurrency in the EU countries is determined by the Court of Justice of the European Union. As it is stated in the document “…bitcoin is a means of payment used in a similar way to legal means of payment and the transactions … be exempt from VAT”.

Cryptocurrency in Germany

Cryptocurrency status in Germany may be called neither legal nor illegal. In August 2017 the Federal Ministry of Finance of Germany claimed that cryptocurrency might be used for clearing transactions in the country.

Cryptocurrency in Japan

After Bitcoin and Ethereum were authorized in the country in April 2017, fiat money still dominates there. However, the specialists reckon that the country may influence the cryptocurrency market significantly.

Cryptocurrency in Israel

Since the beginning of 2017 Bitcoin is recognized as the property in Israel. It is determined by the currency regulations law, therefore cryptocurrency selling bares tax. Two types of taxes are presupposed: VAT and revenue-based levy.

Cryptocurrency in the United Kingdom

Nowadays, the UK is reckoned to be one of the leading financial centers in the world. Numerous blockchain and Bitcoin project are launched there. Furthermore, it is possible to settle the bill in some bars of London by dint of Bitcoin.

Cryptocurrency in the USA

According to the Federal Bureau of Investigation, Bitcoin is recognized to be virtual currency. Since March 2013 it is possible to exchange cryptocurrency for fiat money. However, the situation differs from state to state. Thus, it is possible to buy goods and pay for services by means of digital currency. What is more surprising the US Securities and Exchange Commission initiated the 1st cryptocurrency fraud case in autumn 2017.

As one could notice the legal status of cryptocurrency is different in various places around the world. Thus, virtual currency is banned in:

  • Iceland
  • Rumania
  • Kyrgyzstan
  • China
  • Bangladesh
  • Vietnam
  • Thailand
  • Indonesia
  • Bolivia

However, the situation may be changed at any time. This list may be enriched or vice versa. It depends on local laws and the economic situation of countries.


Conclusion

As you see the amount of crypto-currency users is growing from day to day. But like all the inventions crypto-currency has both positive and negative sides. The positive one consists in its convenience, the negative one lies in its vulnerability. And like any other currency it needs to be protected.

The most reliable protective measure one can use for crypto-currency is a VPN service for bitcoin. A high-quality VPN service for bitcoin is able to supply its customer with appropriate level of defense. By using a VPN for crypto-currency we hide our IP address and encrypt all the transferring data, which is extremely useful when speaking about currency.

One definitely should remember about those aspects a good VPN for bitcoin needs to give. At the best VPN rating for bitcoin the latest and most reliable VPN services are presented for your choice.

Having read the article, one should remember:

  • More than 100,000 people and businesses use the Bitcoin crypto-currency, so the popularity of the crypto-currency is growing each day;
  • Like other currencies bitcoin faces different problems. One of the main issues is its protection from uncontrolled interception.
  • There is one professional help named a VPN service, which is aimed to protect your crypto-currency from any adversaries.
  • There are several aspects that a high-quality VPN service should give. Let’s enumerate them one again, there are strong tunneling, a reliable VPN provider, unlimited bandwidth, an easy to install and use service, a professional support, a bitcoin accepting VPN.
  • The best bitcoin VPNs 2098 are presented in the rating and claimed to have all the necessary facilities.

So, don’t forget about all these helpful notes and you will definitely make a good pick! We hope you will be able to choose the best VPN service for bitcoin with the best VPN service rating 2019.

Average: 5 (3 votes)
David Balaban
David Balaban