Why Countries Are Limiting Access To Cryptocurrency?

Have you ever wondered why so many countries have fought to limit access to cryptocurrencies?

Well, you aren’t alone. The reason why so many national governments want to limit access to virtual currencies is because these types of transactions are anonymous and can’t be tracked. That means national governments can’t track what their citizens are buying, but it also means that they can’t tax the transactions. National governments are fearful of the ramifications, which include a smaller tax base and a citizenry which can buy and sell whatever it wishes without government interference. Governments have begun to restrict access to virtual currency exchanges and forums in an attempt to get their citizens to stop using the currencies. But fortunately, internet users have a way around these restrictions. They can access cryptocurrency exchanges and make trades with all the benefits of anonymity by using VPNs.

Internet Users Are Utilizing VPNs To Avoid Censorship And Content Blocks

VPNs, or virtual private networks, are a tool that internet users utilize in order to avoid content restrictions. VPNs work by creating a secure tunnel between a server located elsewhere in the world and a device connecting to the internet. VPNs encrypt all information and data traveling inside the tunnel, which means that if you use a VPN your online actions can’t be tracked by the government, third parties, or other actors.

VPNs are critical for internet users who are looking to access virtual currency exchanges, especially in countries known to restrict their internet access. For example, if you are traveling to China, which has been known to restrict online access, a VPN will allow you to maintain access to whatever site you want to view.

What Can Users Expect From Cryptocurrencies In The Future?

The outlook for cryptocurrencies remains strong because they offer users a way to make anonymous transactions that can’t be tracked. Unfortunately that also means that governments will increasingly try to restrict access to virtual currencies themselves.

The good news is that VPNs will allow internet users to continue to access cryptocurrency websites, exchanges, and forums without the fear of being tracked. Expect more VPN growth, especially as cryptocurrencies increase in popularity and move further into the mainstream consciousness. National governments may never fully accept virtual currencies, but they can’t completely stop their rise.

Chris San Filippo is a part of the marketing team at Hotspot Shield, one of the top ranked VPNs in the world. Hotspot Shield has over 500 million downloads and has helped users from over 200 countries fight for net neutrality and against censorship. Chris’s work has helped Hotspot Shield earn features in publications like Forbes, Bloomberg, and The Wall Street Journal. In addition to his job with Hotspot Shield, Chris also blogs about web security, cryptocurrencies, and social media trends.