Cryptocurrencies are gaining in popularity. Here’s why

By: Chris San Filippo


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Cryptocurrencies have been making plenty of headlines lately. The value of Bitcoin has soared in 2017, & is currently pushing $15,000 per unit. J.P. Morgan Chase CEO Jamie Dimon had been critical of Bitcoin all throughout the past year. But even he has become a convert, he recently said

There are plenty of reasons why cryptocurrencies have seen so much success. Internet users are looking for privacy & anonymity, especially with so many high profile hacks in recent years. Target, Sony, & Equifax are just a few of the major companies that have seen hacks. In addition, more government deregulation has allowed corporations to get their hands on more personal data from Internet users. For example, the US Congress passed a law earlier this year that made it easier for ISPs to collect and sell the Internet browsing histories of their customers. With privacy concerns abound, there’s no wonder users are flocking to cryptocurrencies.

Why Countries Are Using GeoIP Restrictions To Block Cryptocurrency Usage

Cryptocurrencies are great for individual Internet users, but they are generally seen as in opposition to the interests of national governments. National governments want more people using their physical currencies, not less. And they want the value of these currencies to rise, or at least remain static. Virtual currencies are seen as a threat, because a rise in their usage typically means that the value of traditional currencies fall. And of course, there are tax ramifications–when cryptocurrencies are being used, it becomes difficult for national governments to track which individuals owe taxes. As a result, more countries are looking into restricting or outright blocking virtual currency exchanges Online within their borders.

How Internet Users Are Bypassing Content Blocks

VPNs, or virtual private networks, allow internet users to bypass Content restrictions so that they can access virtual currency exchanges & other affiliated sites online. VPNs create a secure tunnel between an Internet connected device & a server located elsewhere around the world. VPNs change the IP address of their users in addition to providing end-to-end encryption. Browsing the Web anonymously is one of the major perks of VPN use, & it is why it goes hand in hand with cryptocurrencies. Countries are likely to continue with their crackdown on virtual currencies. As they do so, you can look for the use of VPNs to increase, as users want to maintain anonymous, secure access to cryptocurrencies like Bitcoin.

It is important to know how & why Internet users choose VPNs. Users can choose a VPN client simply by using a search engine to find the VPN of their choice. They are doing so in order to bypass Content restrictions, protect their Online communications, & to anonymize their Web experience. It is also key to know why countries are using geo-location restrictions in order to block cryptocurrency exchanges & other types of Web Content.

 Chris San Filippo is SEO & Affiliate Manager with VPN provide HotSpot Shield.
(The views expressed in this guest post are solely that of the author. This Website may not necessarily subscribe or agree with the same.)

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