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If speed-focused streaming VPNs like Surfshark and CyberGhost aren’t what you’re after, Mullvad and Proton VPN sit in a different category entirely: both are built by privacy-first companies with genuinely audited no-logs policies, open-source apps, and a track record of picking transparency over growth-at-all-costs marketing. The choice between them isn’t about which is “better” so much as which privacy model fits how you actually want to pay for and use a VPN.
The core philosophical difference
Mullvad’s entire pitch is anonymity by design: sign up and you get a randomly generated account number — no email, no username, no password required. You can pay with a card, but you can also mail literal cash (EUR, GBP, SEK, DKK, NOK, CHF, CAD, or AUD) to Mullvad’s office in Gothenburg, Sweden, along with your account number, and they’ll credit it with no bank record ever linking you to the account. Bitcoin and Monero are also accepted. It’s the closest thing to a truly anonymous VPN subscription that still comes from a mainstream, audited provider.
Proton VPN takes a different approach: it requires an email address (a free Proton Mail address works fine) but leans on jurisdiction and infrastructure design instead. Proton AG is headquartered in Geneva, Switzerland, a country outside the Five/Nine/Fourteen Eyes surveillance alliances with no mandatory data-retention law currently in force for VPN providers — though a proposed Swiss ordinance update, which could take effect as soon as 2026, would require providers with 5,000+ users to log IP addresses for six months if it passes. Nothing has changed yet, but it’s a real regulatory risk Mullvad’s cash-and-account-number model sidesteps entirely.
Pricing
Mullvad keeps this deliberately simple: a flat €5/month (roughly $5.50 depending on exchange rate), no tiers, no annual “discount” that’s really just a longer commitment, no renewal price hikes, and no bonus-month checkout gimmicks. What you pay in month one is what you pay in month twelve. It covers up to 5 devices.
Proton VPN runs a more familiar tiered structure. The Free plan has no time limit or data cap — genuinely free forever, not a trial — but restricts you to servers in 10 countries and 1 simultaneous connection. The paid VPN Plus tier runs roughly $2.99/month on the 2-year plan, up to about $9.99/month billed monthly, and unlocks the full server network, Secure Core, NetShield, and up to 10 devices. Proton also bundles VPN Plus into its higher Proton Unlimited plans alongside Mail, Calendar, and Drive, which can be a better deal if you already use those.
Network size and infrastructure
Proton VPN wins decisively on raw numbers: roughly 18,700+ servers across 130+ countries on the paid tier, one of the larger networks among privacy-first VPNs. Mullvad runs a deliberately smaller footprint of 700+ servers in 50+ countries, all WireGuard-capable up to 10 Gbps, with a stated policy against “virtual” servers — if Mullvad lists a server in a country, it’s physically located there, not geo-spoofed from somewhere else. Proton doesn’t publish the same physical-location guarantee across its entire network, so if that specific promise matters to you, Mullvad is the more transparent option even though its list of countries is shorter.
Standout features
Proton VPN’s Secure Core is its headline privacy feature: traffic routes through two servers instead of one, with the first hop always landing on Proton-owned (not leased) hardware in Sweden, Switzerland, or Iceland before exiting through your chosen location. That protects against a compromised exit server ever being able to trace traffic back to your real IP. Proton also includes NetShield, a built-in ad and tracker blocker, on paid plans.
Mullvad doesn’t offer a multi-hop equivalent or a built-in ad blocker in the same polished way, but it counters with radical pricing transparency and a public commitment to never introduce tiers, upsells, or “premium” paywalls beyond the single flat rate — a direct contrast to the antivirus/identity-protection upsell bundles common at Surfshark and NordVPN.
Audits
Both are genuinely, repeatedly audited — not a one-time press release. Mullvad has been through four public Cure53 audits (2018, 2020, 2022, and June 2024), plus additional 2025 reports from Assured AB, MASA, and X41 D-Sec. Proton VPN has published five consecutive annual no-logs audits (most recently 2026, from Securitas/independent auditors), each concluding the examined server infrastructure showed no evidence of logging browsing activity, DNS queries, or connection metadata. Neither company is relying on an old, stale audit — both keep re-verifying, which is the real signal to look for versus providers who tout a single audit from years ago.
Comparison at a glance
| Feature | Mullvad | Proton VPN |
|---|---|---|
| Price | Flat €5/mo (~$5.50) | Free tier, or ~$2.99–9.99/mo paid |
| Account signup | No email — random account number | Email required |
| Anonymous payment | Cash by mail, Bitcoin, Monero | Card, PayPal, crypto (paid tier) |
| Devices | 5 | 1 (free) / 10 (paid) |
| Servers | 700+ in 50+ countries | 18,700+ in 130+ countries (paid) |
| Multi-hop | No | Yes (Secure Core) |
| Ad/tracker blocker | No | Yes (NetShield, paid) |
| Jurisdiction | Sweden (outside Eyes alliances) | Switzerland (outside Eyes alliances, pending ordinance risk) |
| Latest audits | 4x Cure53 (2018–2024) + 2025 reports | 5 consecutive annual no-logs audits |
| Free plan | No | Yes (uncapped, 10 countries, 1 device) |
Verdict: who should buy which
Editor’s pick: if you want to try before committing, read our full Proton VPN Review 2026 for the complete breakdown of its free tier and Secure Core feature.
Pick Mullvad if account anonymity is the actual priority — you don’t want your VPN provider to ever hold an email address tied to your payment, and a smaller but honestly-labeled server network is a fair tradeoff. It’s also the simpler buy: one price, no upsell emails, no tier confusion.
Pick Proton VPN if you want to try before paying (the free tier has no catch), need the larger server network for geographic flexibility, or want Secure Core’s extra hop of protection against exit-server compromise. It’s also the better fit if you already use Proton Mail or Drive and want everything under one subscription.
Neither is a bad privacy choice — this is one of the few VPN matchups where both companies have earned their reputation through repeated independent audits rather than marketing claims.
FAQ
Is Mullvad or Proton VPN more private?
Both are legitimately privacy-focused, but they optimize for different things: Mullvad minimizes what it ever knows about you (no email, optional cash payment), while Proton VPN maximizes jurisdiction and infrastructure transparency (Swiss law, Secure Core, repeated audits). Neither has a history of logging or leaking user data.
Can I actually pay Mullvad with cash?
Yes — mail eligible currency to Mullvad’s Gothenburg, Sweden office along with your account number, and they credit your account on receipt. It’s a real, working option, not a gimmick, though it’s obviously slower than paying by card.
Does Proton VPN’s free plan actually work, or is it a bait-and-switch?
It’s a genuine free tier with no time limit and no data cap, not a trial — you get 10 country choices and 1 device. The catch is server selection and speed are more limited than paid VPN Plus, not that it stops working after a trial period.
Which one is faster?
Both run on WireGuard and are fast enough for HD/4K streaming and normal browsing; neither publishes numbers suggesting a dramatic real-world speed gap. Proton’s larger network can mean less server congestion in popular locations, while Mullvad’s smaller network is well-maintained with 10 Gbps-capable hardware.
Sources consulted: security.org (Mullvad pricing/testing), costbench.com (Mullvad and Proton VPN pricing), spliiit.com and vpnfree.us.com (Mullvad audits/servers), kycnot.me (Mullvad anonymous payment model), protonvpn.com/blog (official no-logs audit announcement), vpn.com (Proton VPN security/audit analysis), criticnest.com (Proton VPN audit history), toolradar.com and gizmodo.com (Proton VPN pricing/free plan details).
