Because bitcoin accounts aren’t tied to names and transactions are encrypted (hence “cryptocurrency”), the money can be used anonymously. But at the same time, the decentralized blockchain allows Bitcoin to ensure the money isn’t counterfeit without needing the backing of any government, banking institution, or other centralized authority. Why is this so important, Banking on Bitcoin notes that the first bitcoin was created in January of 2009, right as the global financial system was collapsing. Even now, many individuals and even countries haven’t fully recovered. What bitcoin enthusiasts want us to remember is that while Bitcoin contains plenty of risks, so does anything. Stock markets have crashed. Government currencies have been hyperinflated until they are useless. Bitcoin came out of the “cypherpunk” movement, radicals who believe cryptocurrency can create a better world. That’s right, no one is sure at all who invented Bitcoin. Banking on Bitcoin spends a lot of time going over the possible real identity of the person (or group) who used the name “Satoshi Nakamoto” when creating the currency. But despite the odd origins, Bitcoin has gotten increasingly legitimized with figures such as the Winklevoss twins (the brothers who sued Mark Zuckerberg over Facebook) investing millions and working with the government to develop regulations. Cryptocurrencies are complicated, but Banking on Bitcoin gives a solid overview of the mechanics and history from a digital dollars used to buy drugs on the “dark web” to an investment opportunity that everyone and their aunt is talking about. Watch it before you invest yourself. Although please, whatever you do, don’t mortgage your house.
The strength of AirVPN's privacy features is proven by its ability to dodge controls imposed by the Chinese government. You have to set up an account before you can pay for the service. This step requires a username and a valid email address. You can set up a burner email account with a webmail service for this necessity - you don't need to give your real name. Remember to create a pseudonym to use with your Bitcoin account. Also, don’t forget that you have to protect your identity when collecting payments as well as when paying out of your wallet. You probably don’t need full anonymity in your day-to-day life. As such, why not run your regular finances through a standard bank account, You can then reserve your Bitcoin transactions for activities that you want to remain private. Avoid contact between your Bitcoin account and your bank account(s) to avoid links between you and your Bitcoin wallet. Paying for digital services when you’re in Europe can present a problem. EU requirements specify that all charges for online services have to include Value Added Tax (VAT).
VAT is levied at the rate of the European country in which the customer is making the purchase. It is not levied at the rate of the service provider’s location. The VAT rule applies to companies that are based outside of the EU as well. These requirements make matters complicated if you’re travelling within Europe and not in your home country. That’s because online service companies have to provide the address of your bank account. This applies even if the payment is processed by a third party company. Thus having a PayPal account, or paying through Bitcoin, doesn’t protect you. The Bitcoin payment processor has to return details of your address to the service provider along with confirmation of payment. If the two identifying pieces of information don’t match the location of your IP address, the service cannot be provided. A simple solution to this problem is to make sure that you don’t appear to be in an EU country when you sign up for a VPN (or other service). That way, all of the location identification requirements disappear.
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