Latest posts by Alvin Bryan (see all)
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- BitLicense Will Allow Bitcoin Spying in New York - October 22, 2014
- Australians are Fighting Data Retention Laws - October 22, 2014
Bitcoin is a hot online currency that everyone talks about. But we need to know what’s true and not about it. Most importantly, we need to know how secure it really is. And we need to see why VPN servers are needed to overcome Bitcoin vulnerabilities.
Using virtual currency has become more and more popular. People don’t want to carry cash around for security reasons. And they want the convenience of having funds at their fingertips. But what they don’t know is that virtual currencies like Bitcoin can be much more vulnerable to theft than cash. Fraud is any currency’s biggest enemy. And fraud hits online transactions and accounts more than it does physical currency.
Virtual currencies try to develop ways of preventing fraud. Credit card companies put limits on who can use them. PayPal holds funds and blocks accounts. Bitcoin has sets of keys and hidden wallets. But essentially, if we lose the wallet or don’t secure our keys, we will get robbed. And there’s no way to get that money back. The beauty of a currency like Bitcoin is that we can use it to exchange for goods and services. But it isn’t really money. There are very few agencies who can actually convert Bitcoin into cash. But this also means that it is an anonymous currency that can be won, mined, and traded by anyone. It is a valuable currency.
Bitcoin itself is pretty much secure. But it is built on Internet technologies that are imperfect. Breaking any one of the codes that surround Bitcoin will make it vulnerable to intrusion. And there have already been cases of Bitcoin thefts. This is why it is important for users to have access to VPN servers. VPN servers anonymize user traffic and encrypt user data so they can stay safe. VPN servers are like armored cars that take people through the Internet safely. They block attacks so people can move their money without the risk that it will get stolen.
Virtual currencies will always make efforts to improve security. They need to keep the confidence of their users. They need to protect their users’ investments as their own because the users are their investments. But the Internet has so many bugs, and it’s impossible to keep track of them all. There will always be that time when some code gets broken and someone’s store gets stolen. VPN servers are the extra layer of security that Bitcoin holders need to protect themselves against these attacks.Read More: