Why Do Some Crypto and FOREX Traders Leave Themselves at Risk?

When you consider that anyone trading currencies is involved in money, it does not take a genius to figure out that these people are going to be a prime target for those involved in online financial fraud. Internet fraudsters make a living out of stealing cryptocurrency and hacking trading accounts in order to transfer the balance of the trading account to an account where the money cannot be recovered. This is why all currency traders should be very careful about how they connect to the internet.

 A lot of crypto and FOREX traders tend to work from home or coffee shops. Now when working from home there is much less risk of exposing account data or a private key for crypto currency. However, risks are increased by those that work from coffee shops, bars, restaurants, and shared office spaces. Internet fraudsters target wall these locations in search of easy prey to defraud.

Even shared office spaces are no longer safe as there have been numerous people using the internet connection provided by the office space and their accounts hacked. Some fraudsters purposely use these spaces in order to capture data on the WiFi router that can build up a profile of the people using he shared space regularly. Once the fraudsters have pieced together jigsaw, they are able to begin taking money from people’s accounts, transferring cryptocurrency, or begin identity theft activities.

For those of you out there that are trading in currency or even on the stock exchanges, the safest way to work outside of your home is by using VPN software.

VPN software is well-known in China because the country does not allow platforms such the world’s most popular search engine Google or the long-time top dog in social media Facebook. In order to be able to connect to these platforms from within China, people have been using VPNs – see here for more information プライバシー 保護.

The reason people can get away with using VPNs in China is because the VPN tunnel that is created is so secure. It is a multi-layered tunnel, and on each layer, there is a new level of encryption. For the Chinese government to hack every one of these tunnels would just be a waste of resources.

As a result, the safety and security provided by VPNs has earned a reputation within the financial world. Traders are able to connect via a VPN to their trading platform be it, stocks, shares, virtual currencies, or FOREX. The VPNs are used when the trader is connected to a network that is effectively public. Even an office workspace in this instance is considered public.

Another great use for VPN software is at work. A lot of traders have full time jobs and connect to their work WiFi router in the belief that it is safe. This is not always the case as businesses are always targeted by hackers from either within the company itself or by cyber criminals that have managed to gain access to the office WiFi.

The only sure-fire way for anyone involved in finance to protect themselves while connecting to the internet from outside their home is by using VPN software.

Post Author: Jennifer Slegg

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