Bull Bitcoin Becomes First Exchange to Add Payjoin Privacy Deposits, Withdrawals, and Payjoin-by-Default Trading

Bull Bitcoin announced deep Payjoin integration with its exchange, claiming to be the first Bitcoin exchange in the world to offer Payjoin as a deposit and withdrawal option. The update unlocks two new concepts: “Payjoin-by-default and Payjoin trading,” according to he press release shared with Bitcoin Magazine.

Founded by Francis Pouliot in Canada in 2013, Bull Bitcoin is the world’s longest-running Bitcoin-only exchange. Its non-custodial platform lets customers in Canada, Europe, and Latin America buy Bitcoin directly into their own wallet and sell Bitcoin to their bank account. Bull Bitcoin also develops BULL Wallet, a free and open-source self-custodial Bitcoin wallet. The company has been self-funded since its inception. 

Payjoin is a Bitcoin onchain privacy protocol that breaks basic assumptions made by on-chain analysis firms about user behaviour. One such assumption is that one of the unspect transaction outputs (UTXOs) resulting from a bitcoin transaction will be change returning to the sender. Or that amounts are more often than not denominated in dollars. Payjoin protocols add an off-chain coordination layer such that the amounts sent and returned to the sender obfuscate user intent and thus protect their privacy on-chain. Payjoin does not require a hard fork or a soft fork into Bitcoin consensus. Instead, it must be adopted by user wallets and exchanges to scale, but it also does not depend on collective action to benefit individual users. Bull Bitcoin’s Payjoin integration is closely based on the Payjoin Foundation‘s work.