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How to Make Your Bitcoin Transactions Untraceable - Completely Anonymous using BitcoinMixerBitcoin was described to me as a kind of untraceable, anonymous digital cash for the internet. Bitcoin is not fully anonymous. It is only pseudo-anonymous. This is due to the fact that every user has a public address that could theoretically be traced. Yes, Bitcoin is traceable. Here's what you need to know: Blockchain transactions are recorded on a public, distributed ledger. This makes all transactions open.