Best VPNs for Crypto in 2024

It’s anonymous to a degree, although the blockchain itself is a record of every transaction.

For example, whenever a Bitcoin transaction is completed, it’s recorded on the blockchain. If someone has access to your public address, they can search for it to see how much you’ve sent and received in the past, as well as the public address of who it has been sent to. 

Considering the above, it’s clear to see why the additional privacy provided by a VPN is worth it. Whether you’re using Bitcoin or an altcoin, security should be important to you.

Here’s a simple step-by-step guide to buying cryptocurrency from one of the major exchanges online.

1. Sign up with a VPN provider. 
2. Choose a server-based in your country and connect to it. 
3. Sign up with the exchange of your choice to buy crypto. (You can check which exchanges list specific coins online; Coinbase and Binance are two examples.)
4. Choose your cryptocurrency, and select a form of payment. 
5. You should now have cryptocurrency in your exchange wallet.
6. We’d recommend the use of a hardware wallet to further protect your investments.

In most cases, a VPN is the best method to unblock sites and services across the globe. However, be sure that you’re not breaching its Terms of Service in any way, as crypto exchanges are generally quick to wield the ban-hammer if they suspect that you’re gaming the system in any shape or form.

For example, Coinbase regularly offers ‘free crypto’ rewards for watching short videos about new assets. They’re only available in selected locations, which is one reason why some regions are unsupported by the exchange.

Another example would be BitMEX, which doesn’t allow citizens of the US, Canada, Hong Kong, Republic of Seychelles, Bermuda, Cuba, Crimea, and Sevastopol, Iran, Syria, North Korea, or Sudan to use their service.

Some providers will advertise access in the US, but neglect to mention that the BitMEX terms state:

“If HDR determines that you are accessing the Services or the Trading Platform from any Restricted Jurisdiction, or have given false representations as to your location of incorporation, establishment, citizenship, or place of residence, HDR reserves the right to close any of your accounts immediately and liquidate any open positions.”

Remember, a VPN is best used to enhance privacy rather than to unblock the platforms where you plan to hold any significant amount of money. This is especially true if they also have the power to close your account immediately for going against the Terms of Service.

If anonymity and privacy is your main aim, being able to pay for a VPN with crypto should be a no-brainer, as long as you’re actually willing to part with an asset which may appreciate in the future.

Cryptocurrency supports anonymous payments, and a VPN will protect your movements online. When paired together, you’ll be like a ghost compared to the typical user. That’s the true power of a crypto VPN.

If you’re fond of moonshots, it’s likely you’ll be interested in coins that aren’t freely available on bigger platforms. 

Be wary of promises that seem too good to be true, as many are reminiscent of scams like Bitconnect that have burned people in the past.

If a coin isn’t available on any trusted platforms, there’s probably a good reason why. We’d also stick with known exchanges, even if you can’t access the latest potential meme investments.

A strict logging policy, for starters. Then I’d move on to each of their security features, as well as checking for a third-party audit. Lastly, ensure that they have servers in the location that you’d like to connect from. 

Considering the above, you don’t necessarily need the flashiest provider or any of the most expensive options. What you would benefit from is a VPN that will keep your data safe and secure, while keeping you obfuscated.

It can seem like a chicken/egg situation, especially as crypto can be used to purchase many of the services listed above. We’d opt for the VPN first, to provide anonymity when you first sign up with an exchange.

As long as you’re based in a country that allows trading on a specific platform, there are just a few risks to consider while using a VPN when buying crypto. 

You may need to enter a CAPTCHA or two if you’re signing in from multiple IP addresses with a VPN, while there’s always a chance that crypto trading could be banned in the future depending on your country of origin.

However, the benefits are numerous, while the potential for profit has been enormous during the bull market that has taken place over the last couple of years.