Is my privacy truly safeguarded? Despite Bitcoin offering anonymity, privacy concerns persist. There are numerous techniques available today that can unveil connections between Bitcoin addresses, transaction patterns, and the true identity of the address owner. It's important to note that while tracking transactions on the public ledger of blockchain technology doesn't reveal the intricacies of Bitcoin transactions and public keys, it may facilitate the linking of multiple addresses together for further analysis. Virtual Assets Service Providers retain transaction data for Bitcoin addresses associated with exchanges, custody wallets, and custodians that cater to individual and business clients in the cryptocurrency space. The information collected during registration, known as Know Your Customer (KYC), enables the tracking of a user's real-world identity. These data can be connected thanks to the use of blockchain technology. Additionally, you can trace your Bitcoin transactions using tools such as Bitcoin Explorers and other similar resources. I will be glad to get more contributions on how I can maintain more privacy.
First you have to buy your bitcoins from decentralized exchanges or p2p, do not use centralized exchanges becuse you will be required to do KYC, even if they don’t ask for KYC the exchange may have your logs saved. The second step is to move your bitcoins to a non-custodial wallet that’s open source like Electrum, I would not recommend Trust wallet simply because they are closed source. Thirdly, use Tor when accessing blockchain explorers becuse your address can be linked to you through explorers.
If you have connected your identity to your coins at some point, you can use a mixer service to break the link and make it difficult for anyone to trace you.