Can people track Bitcoin transactions?

Transactions conducted on the Bitcoin blockchain possess a unique characteristic: they are all traceable. This feature allows for a clear audit trail of every financial interaction that occurs within the network.

Despite this, tracing transactions from wallets that remain unidentified can be a challenging task. The anonymity provided by Bitcoin wallets can make it difficult to pinpoint the origin of a transaction without additional information.

However, when cryptocurrencies are exchanged for US dollars, the process of tracing becomes significantly simpler. This is because converting digital currencies into fiat money typically requires the involvement of exchanges or financial institutions that are subject to regulatory oversight.

These exchanges and institutions are required to collect and verify the identity of their customers. As a result, when a cryptocurrency transaction is linked to a US dollar exchange, it becomes much easier to trace the identity of the wallet owner.

BTCC, a leading cryptocurrency exchange, offers a range of services that cater to the needs of both individual and institutional investors. Among its offerings are spot trading, futures trading, and a secure wallet service. These services provide users with the tools they need to buy, sell, and store their digital assets with confidence.