Nations Are Attempting To Block Cryptocurrency Use
Cryptocurrencies are becoming a global phenomenon. They are popular with both those who are looking to protect the anonymity of their online transactions and with speculators looking to make money off of the virtual currency. The rise of virtual currencies has increased pace over the past several years. With Bitcoin taking off, even the major financial institutions have taken notice, along with national governments. For individual traders, cryptocurrencies like Bitcoin are a tremendous asset, especially since the Blockchain technology allows users encrypted, anonymous transactions from any location in the world. Governments look at Bitcoin and other virtual currencies as a threat, since the money isn’t taxed and the value of their official currencies could suffer if citizens are eschewing it for cryptocurrencies. Some nations have taken to blocking exchanges and other websites for virtual currencies.
VPNs Allow Internet Users To Avoid IP Restrictions
Internet users looking to access exchanges for virtual currencies might find that they are blocked in their home country. They can bypass these blocks through the use of a VPN, or virtual private network. VPNs allow internet users to change their IP address and browse the web securely and anonymously with end-to-end encryption. The result is the ability to access exchanges for virtual currencies without an internet service provider or national government being able to find out.
What Cryptocurrency Users Should Look Out For In The Future
The explosive growth of cryptocurrencies is unlikely to abate anytime soon. That means that more cryptocurrencies are likely to be created, and Bitcoin is probably going to push even further into the public eye. National governments are going to resist this, and will probably pass even more draconian penalties for using Bitcoin and other virtual currencies. They will attempt to use geo-location restrictions and other bans to keep their residents from accessing exchanges online. That makes VPNs even more vital, since they will help people around the world maintain access to virtual currencies.
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