Singapore, Singapore, October 21, 2019 --(PR.com
)-- All individual U.S. taxpayers are now required to report cryptocurrencies as part of their income. Earlier in the month, the Internal Revenue Service (IRS) has updated the main tax reporting form for individuals with the inclusion of a question about cryptocurrencies. This long-awaited update is the result of rapidly growing interest of the US based consumers to own and transact in cryptocurrencies.
It is undeniable that the advent of cryptocurrencies has triggered a revolution in the global financial market. In the recent years, there has been a growing drive around the world to make cryptocurrencies a part of the mainstream economy. The most important benefit of cryptocurrency is that it provides a faster and cheaper way to move money and make payment. These digital currencies can also help eliminate all types of middlemen who inevitably raise the costs of the transactions.
As crypto transactions have gained popularity around the world, BitVPN has emerged as one of safest alternatives to protect these transactions. This decentralized VPN doesn’t pass though a single point, but through multiple nodes with layers of encryption. As a result, it becomes much more difficult to track the private data of a consumer that uses BitVPN. Based on a decentralized structure, BitVPN empowers users to retain their internet privacy and stay invisible from all kinds of surveillance and censorship.
Instead of using any single central server, decentralized networks are built upon a peer-to-peer mesh network where individual computers across the globe are involved in distribution of data and information with layers of data scrambling and encryption. Compared to the more conventional centralized network, it offers a wide range of benefits in terms of system reliability, scale, and privacy protection.
“The decentralized structure enables BitVPN to become truly anonymous, private, and secure. Because of the decentralized nature, data is handled by numerous servers that are operating independently across the world. And it’s impossible for any hackers to collect all the scattered data and do something bad with them,” said a spokesperson from BitVPN. “By utilizing decentralized P2P mesh network, a single point of failure or attack is no longer a risk to the entire BitVPN’s network. BitVPN makes sure that each and every step of data processing is encrypted, scrambled, and encrypted again.”
With an open attitude towards cryptocurrency, BitVPN is all set to add Top and Bitcoin as payment methods very soon.
About BitVPN: BitVPN is a decentralized VPN service on blockchain offering the ultimate internet privacy solution and ensuring an anonymous online browsing experience for the users. With BitVPN's decentralized data structure, users can surf, unblock, and stream any content anonymously wherever they are. With layers of data encryption and scrambling in a decentralized VPN network, BitVPN protects users from data breaches and cyber attacks.