OK can provide a basic level of pseudo anonymity by using it properly. The OK ledger is public and can be seen by anyone in the whole world. Always remember that it is your responsibility to adopt good practices in order to protect your privacy.
Okcash works with an unprecedented level of transparency. All OK transactions are public, traceable, and permanently stored in the Okcash network. Okcash addresses are the only information used to define where OK are allocated and where they are sent. These addresses are created privately by each user's wallets. However, once the addresses are used, they become tainted by the history of all transactions they are involved with. Anyone can see the balance and all transactions of any address. Since users usually have to reveal their identity in order to receive services or goods, constantly used Okcash addresses cannot remain fully anonymous. For these reasons, OK addresses should only be used once, users must be careful not to disclose their addresses.
To protect your privacy, you should use a new Okcash address each time you receive a new payment. Additionally, you can use multiple wallets for different purposes. Doing so allows you to isolate each of your transactions in such a way that it is not possible to associate them all together. People who send you money cannot see what other Okcash addresses you own and what you do with them. This is probably the most important advice you should keep in mind while using OK coins.
Unless your intention is to receive public donations or payments with full transparency, publishing an Okcash address on any public space such as a website or social network is not a good idea when it comes to privacy. If you choose to do so, always remember that if you move any funds with this address to one of your other addresses, they will be publicly tainted by the history of your public address. Additionally, you might also want to be careful not to publish information about your transactions and purchases that could allow someone to identify your Okcash addresses.
Because the Okcash network is a peer-to-peer network, it is possible to listen for transactions' relays and log their IP addresses. Full node clients relay all users' transactions just like their own. This means that finding the source of any particular transaction can be difficult and any Okcash node can be mistaken as the source of a transaction when they are not. You might want to consider hiding your computer's IP address with a tool like Tor or i2P so that it cannot be logged.
Some online services called mixing services offer to mix trace-ability between users by receiving and sending back the same amount using independent Okcash addresses. It is important to note that the legality of using such services might vary and be subjected to different rules in each jurisdiction. Such services also require you to trust the individuals running them not to lose or steal your funds and not to keep a log of your requests. Even though mixing services can break trace-ability for small amounts, it becomes increasingly difficult to do the same for larger transactions.
Many improvements can be expected in the future. Graphical user interfaces are getting improved all the time to provide user friendly payment request features and discourage addresses reuse. Various work and research is also being done to develop other potential extended features.