Are Bitcoin transactions private and untraceable?

Bitcoin transactions may be easily tracked using blockchain explorers, however, doing Bitcoin transactions anonymously is increasingly difficult.

A Bitcoin (BTC) transaction can undoubtedly be tracked. Bitcoin explorers allow you to map Bitcoin blockchain activity. Transactions are traceable due to this transparency, and you can think of the blockchain as a kind of open database full of Bitcoin transactions.

Personal data must be submitted to the exchange in order to trade on a central exchange. As a result, Bitcoin addresses can be connected to personal information. Because the data from earlier Bitcoin transactions are not erased, old transactions can always be viewed.

Because Bitcoin's blockchain is totally transparent and every transaction is publicly logged on a distributed ledger, Bitcoin transactions are traceable.

Money flows can be easily tracked thanks to the blockchain's transparency. If the person behind a wallet address is known, then past and future transactions can be tracked. All of these transactions can be examined in depth. This allows you to view how much money was sent when it was sent, and to which wallet.

References

[1] Cointelegraph, 'Are Bitcoin transactions anonymous and traceable?' (online, 2022) <https://cointelegraph.com/explained/are-bitcoin-transactions-anonymous-and-traceable>