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The traceability of bitcoin transactions is a question of privacy, anonymity, motives, and intentions.
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If it manages to deflect attackers from getting too close to your sensitive data, it means you are still quite untraceable.
Therefore, it really depends on how smartly concealed your pseudonymous identity is. As we explain below, it really is pseudonymous an important distinction. Are bitcoins truly untraceable or only pseudonymous to certain extents? Bitcoin addresses don't have a name assigned. It does not rely on a central server to process transactions or store funds. Bitcoin payments worth ngn 5.4 mn is believed to have been sent as ransom to unknown kidnappers in nigeria, and this is the first time. Hence, below are suggestions which work effectively: If you really want to. If it manages to deflect attackers from getting too close to your sensitive data, it means you are still quite untraceable. You can use a mixer as others have suggested and pay the small fee they charge, or you could simply send your coins as withdrawals from an exchange. Legit cash to coin exchanges now make it really hard to actually get bitcoin out to a bank without a lot of identity proof. The traceability of bitcoin transactions is a question of privacy, anonymity, motives, and intentions. Is bitcoin really decentralized and anonymous?