What is bitcoin? It is a digital currency, a crypto-currency, a virtual currency (whatever you call it) that came to surface in 2009.
People can exchange bitcoins for goods or services or convert it to other currencies as they can do for any other traditional money. She/he can even transfer bitcoins directly to another person over the Internet.
They are, in essence, long strings of code that have monetary value.
How Does Bitcoin Work?
Unlike the physical money, bitcoins aren’t backed by any government. They’re a decentralized form of money and are managed by using peer-to-peer (P2P) technology. The currency exists in the online world with complicated math, protecting all the transactions.
You can use bitcoins for all sorts of real transactions. For that, you first, need to buy bitcoins. The bitcoins are then transferred directly into your bitcoin account. By skipping the presence of a middleman, the associated transaction fees also is less.
How Can I Buy Bitcoin?
In the UK, you can either buy bitcoins from the seller, from an exchange or receive it through bitcoin ATMs. There aren’t many bitcoin exchanges in the UK, and the popular ones are CoinFloor and CoinCorner. But you can always buy them from a seller through online marketplaces such as LocalBitcoins.
Next, you need a wallet to store the treasure. For small amounts, you can keep them in mobile wallets like Mycelium which stores the private keys on the phone. For keeping large amounts, it is better to get higher levels of security and use hardware wallets like Trezor.
Why Shoud I Use Bitcoin?
Though the VPN providers keep the online activity private and confidential, the payment providers may disclose their transactions.
For this reason, buy VPN with bitcoin. It has only the paid amount linked to the single user account. Out of the many reasons why people use this, one of them is anonymity. Being anonymous with VPN, bitcoin payment is the best way. The providers won’t know who you are but you have paid and they would grant the services.
Apart from the privacy, security, and anonymity it offers, it also is fast, and the transactions are completed at an instant.
With numerous transactions, however, you may lose the anonymity; as hackers can link the wallet codes to IP addresses. Try to use different wallets for each different type of transactions, this will make tracing a link back to you difficult. Also, use disposable email addresses to set-up and access bitcoin services.
Here are the top VPN service providers who support payment through Bitcoins:
It is no doubt the best VPN when you consider service over other things. Not only it’s easy to use, but the download speeds are also fast in comparison to others. Based in the British Virgin Islands, ExpressVPN keeps minimal activity logs.
Being located in Panama, NordVPN focuses more on privacy. It doesn’t keep any logs and also offers a fast service. Go for a long-term subscription and the monthly price comes to a reasonable level. It also provides a Double VPN service to route data through two VPN servers, thus providing more anonymity.
Although IPVanish has a no logs policy, its base in the US concerns many users when it comes to privacy. The service favours torrenting and has a good pricing structure.
Want more indepth analysis for which VPN suits you – check our guide here.