With Bitcoin prices skyrocketing nearly two fold in the course of 24 hours, the investor fervor over this new form of digital currency is boiling over into bank accounts across the globe.
Because Bitcoin is stored on a physical drive, it’s more important than ever to keep your network safe and protected from external intruders. Although we always recommend keeping any mined or purchased coins on a removable flash drive somewhere not connected to the internet, trading and selling over the net requires that at least a small portion of your fortune be available online at any given time.
The Department of Homeland Security has also voiced their concerns over the emerging currency, stating that criminal organizations flock to these digital dollars as a method for laundering money and funding their illegal operations both onshore and abroad.
“The anonymity of cyberspace affords a unique opportunity for criminal organizations to launder huge sums of money undetected,” they wrote. “With the advent of virtual currencies and the ease with which financial transactions can be exploited by criminal organizations, DHS has recognized the need for an aggressive posture toward this evolving trend.”
Whatever the outcome of their deliberations, it’s clear that we are entering a new era of decentralized currency unlike anything the internet has seen before. While treading new and unfamiliar territory it’s always smart to keep your chips close to the chest, so whenever you’re trading stocks online be sure to use a service like Express VPN to make sure the contents of your purse stays private.