VeraCrypt is intended to be an up to date replacement for TrueCrypt, which was discontinued in 2014. The interface of VeraCrypt is basically a clone of TrueCrypt, but it is not compatible with files that have been encrypted for it. The main issue is the time taken to load encrypted volumes or devices. 30-90 seconds is quite normal and older processors may take double that time. VeraCrypt says that this is necessary for improved security, but after a while I became tired of being able to boil an egg before the volumes and devices loaded. Similar on-the-fly encryption programs can mount the encrypted files much more quickly, and I think that the trade-off for improved security is being spoiled by the egg timer wait for them to load with VeraCrypt. Unless you are trying to keep a top level expert from accessing your files, it may be better to stick to a program that loads the encrypted files in a more reasonable length of time.
If you trust it (I do), this is an excellent package. Very similar to TrueCrypt in most ways, including how easy it is to use in basic mode and how much more complicated it is to use in "paranoid" mode. The delay in mounting volumes is very long, even on a fast machine. This release (1.17) has reduced that delay noticeably, but you still have time to make coffee while it works. Opened volumes process with no apparent delays, and there is also no delay when closing them.
The primary disadvantages are the slow volume mounting and the inability to use a keyfile during the boot process. The ability to encrypt the whole disk or partition is an enormous advantage, since it eliminates any concern with sensitive information being left in the page or hibernation files, or in disk free space, or in file slack areas or alternate streams. Be sure to create a "rescue disk."
Those having used Truecrypt should try this piece of software. It's based upon Truecrypt code, looks like it and works similarly.
I have noticed relatively long pause when mounting devices; if the storage with encrypted volume is slow, the delay can be quite unpleasant. However, I found it works at least as quickly as its predecessor and has lesser security issues.
My only advice is to avoid using the same Truecrypt volume with Veracrypt. Instead, create new volume and copy data to it, due to known security problems.
So far, my experience with Veracrypt is very good. I only had hard time decrypting my operating system to re-encrypt it with Veracrypt, system seemed to slow down considerably when being encrypted. Apart from that, good tool.
Currently, I'm using VeraCrypt, it's a good replacement for truecrypt, the interface is actually the same, so you won't get lost, you can mount the old Truecrypt container, or convert them to Veracrypt format, and that's is what I've done.
The only cons that I noticed is the lack of speed when mounting, it's taking more time than Truecrypt. tested on a core i7 3770k with 4go ram.
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