To pay for VPN services, users often adopt ways that are less secure or partially secure. Making payment through such modes could therefore pose a major security threat to the credentials of the users and at times, who knows, they might be compelled to part ways with their hard-earned money during online transactions as well.
To take care of such a problem, the newly devised Bitcoin payment method promises to be an effective one. It makes sure that the money is received only by the intended user and not by any third party hacker. So let us know more what this Bitcoin payment method is and how does it provide additional security.
What is Bitcoin?
It is a peer-to-peer (P2P) cash system available as an open source facility and could be used free of cost. It involves the use of digital currencies via decentralized system where the users need not to rely on any trusted party or on a central server for payment. Alongside allowing for instant payments to users located almost anywhere in the world, it also provides an apt solution to get rid of double-spending. The entire payment system including the creation of money and its transfer to the concerned party is carried out with the help of cryptography.
Hazards of using cards and cash for VPN payment
Card worries: Making payment for VPN services through credit card or Visa card could invite the intruders to peek into your credentials and can even use the same for fraudulent purposes. This may drag you into two-fold trouble. Your hard earned money could go in vain and you might become the victim of a treacherous plan executed by the antisocial elements, since it is your card that has been used to satisfy their cause.
In addition, several VPN users would like ultimate anonymity, that you won;t be able to get through Credit Card or Debit Card, as it is registered on your name and includes your complete details like name and address.
Cash furies: Next, suppose that if you are paying the amount in cash in the wake of dangers of credit card payment, you might be tracked using CCTV cameras. Moreover, in most of the cases, such a cash payment is not even possible since the service providers are located far away in some other geographical location. Hence, to avoid hassles in the payments, Bitcoin has emerged as a prominent source.
How is Bitcoin beneficial for VPN
- Bitcoin gives your ultimate anonymity, as it is peer to peer payment system, and does not include any information of sender. It is protected and sent to the correct party through cryptography codes, which do not contain any information of the party it.
- Using Bitcoin assures you the most prominent protection level and hides your identity from the third party intruders over the internet with the help of digital signatures.
- It uses Block chain, which is publicly distributed database and is responsible for taking of double-spending. Besides this, it also plays an effective role in confirming transactions.
- Bitcoin works on a public-key cryptography system that provides the user with a digital wallet with an arbitrary length of cryptographic keypairs. The keys thus provided are converted into Bitcoin addresses (or the wallet addresses) that are used as receiving endpoints for all the VPN payments.
Example of Wallet address: 175tVfb7K1S7NoJ4Dx6rewG9MQrcZv245W. Every Bitcoin wallet address like this one consist of strings with random numbers and alphabets of about 33 characters where each address starts with digit 1.
Considering all the security measures that Bitcoin allows the users to avail of, they score heavily over the rest of all the methods while paying for VPN services. It is for this reason that the facility is being utilized the users in large numbers with each passing day. Currently, the Bitcoin network has been embraced willingly by as many as 32 countries and the rest ones are also expected to follow into their footsteps soon.
You can also see here the all time Top 10 VPN Providers list.
Wish you a Happy and Private Internet Life !!
Latest posts by Faisal Arshad (Posts)
- Router Vulnerabilities Compromise Data Security of 300,000 Computers - March 6, 2014
- Torguard’s Smart DNS Unblocks Websites at Blazing Speeds - March 5, 2014
- Find the Best Logless VPNs for 2014 and Ensure Your Anonymity - March 5, 2014