Is Bitcoin entirely anonymous? It’s common for people to say that in reality bitcoin is absolutely anonymous but are not knowledgeable enough to know that is pseudonymous . Bitcoin being pseudonymous rather than the assumed anonymous gives us an understanding that each user has a established public address. So that further tells us theoretically bitcoin address can be traced back using an IP address or an exchange account.
We should be more concerned about to what level or extent is bitcoin anonymous ?
Being anonymous is a concern to ourselves only. We do not want any users to identy who we are behind every transaction and use a pseudonym in order to hide our true identity. I honestly like to cover my tracks and being in pseudo anonymous state allows me to be private and for security purposes.
But I think we can't deny that while the bitcoin is anonymous to many, some criminals took advantage of it to commit fraud or to launder money because in that state they are anonymous to others and convert fiat currency to crypto but that's the downfall side.