Most VPN providers will offer customers various forms to pay for their VPN services. While in general most customers are happy paying for a VPN using a credit card or PayPal, the users who value financial anonymity would seek to deal their payments in cryptocurrencies.
One of the most popular cryptocurrencies for payment with extra security is Bitcoin.
DOWNSIDE OF PAYING BY CREDIT CARDS/PAYPAL
VPN subscribers are often users who are seeking anonymity on the web, and sometimes prefer to keep their payments for their VPN anonymous. However, using a credit card or PayPal leaves one in the position whereby your personal information such as your full name, email and billing address are all stored by the payment processing company and linked to your VPN subscription and could be traced back to you personally.
Your transaction history using credit cards and PayPal could be shared among parties such as banks, governments, tax authorities, third-party payment processors and just about anyone with the authority to do so.
If you have chosen your VPN on the basis of maximum anonymity (Read: 6 Types of VPN Users), and wish to add an extra layer of security by paying for your VPN in a safer method, here’s why BolehVPN encourages your VPN payments in Bitcoins.
ADVANTAGES OF PAYING IN BITCOIN
- Bitcoin is the most commonly accepted cryptocurrency payment method.
- Bitcoin is more private because your name is not attached by default. It adds another layer of complexity to payment back-tracing, as compared to payments by credit card/PayPal where snoopers need to work harder to track who you are.
- As payments in Bitcoin can be made without divulging any personal info, this gives it stronger protection against identity theft.
- Bitcoin is an open digital currency worldwide. Users have full control to send/receive Bitcoins in all corners of the world as well as perform almost instantaneous and fast transactions.
- Since Bitcoin is decentralised, there is no ‘middle man’ who can control or manipulate the Bitcoin protocol. Bitcoin uses a peer-to-peer technology payment network to operate without banks or a central authority. This means almost zero commissions and lower transaction fees on transfers than other value transfer alternatives.
- Because Bitcoin is autonomous, the system makes it impossible to block purchases based on region/site/service. Such when public donations to WikiLeaks were banned by major payment providers (Bank of America, VISA, MasterCard, PayPal and Western Union), Bitcoin made it possible for WikiLeaks to continue receiving community donations.
Bitcoin + VPNs go hand-in-hand for anyone who seeks a more anonymous and overall private dealing with their VPNs. Of course, additional privacy is never a bad thing and at BolehVPN we too offer for our users to subscribe our service with Bitcoins and other forms of cryptocurrencies such as Dash and ZCoin.