Are Transactions on a Public Blockchain Anonymous?

Transactions on a public blockchain are pseudonymous, not anonymous. While a user's real-world identity is not directly tied to their wallet address, all transactions are publicly visible on the ledger.

Anyone can see the flow of funds between addresses. With advanced analytics and by linking an address to a transaction at a regulated exchange, it is often possible to trace the identity of the person controlling a wallet.

Therefore, a high degree of transparency exists, but not true anonymity.