Bull Bitcoin says it is first exchange to add Payjoin for deposits, withdrawals and trading
Bull Bitcoin says Payjoin is now available for deposits and withdrawals
Bull Bitcoin announced deep Payjoin integration with its exchange. The company says it is the first Bitcoin exchange in the world to offer Payjoin as a deposit and withdrawal option.
The announcement introduces two features: Payjoin-by-default and Payjoin trading. Bull Bitcoin is a Bitcoin-only exchange, meaning a service for buying and selling Bitcoin, based in Canada. It says its platform is non-custodial, meaning customers buy Bitcoin directly into their own wallet, which is software for holding Bitcoin.
Bull Bitcoin was founded by Francis Pouliot in Canada in 2013. The company describes itself as the world's longest-running Bitcoin-only exchange. It serves customers in Canada, Europe and Latin America, and says it has been self-funded since its inception.
Main points from the announcement
- Bull Bitcoin says Payjoin is available as a deposit and withdrawal option on its exchange.
- Transactions made through the built-in exchange in BULL Wallet will use Payjoin by default.
- Payjoin trading is intended to make it harder for others to guess the fiat value of Bitcoin transactions.
- The wallet and exchange software is free and open-source.
- The integration is closely based on work by the Payjoin Foundation.
What Payjoin does and how Bull Bitcoin will use it
Payjoin is described as a Bitcoin privacy protocol. The press release shared with Bitcoin Magazine says it does not require a hard fork or a soft fork, which are changes to Bitcoin's rules. It must be adopted by wallets and exchanges.
Payjoin adds an off-chain coordination layer, meaning coordination that does not happen on the blockchain itself. The goal is to make it harder for on-chain analysis to assume which part of a transaction is change returning to the sender, or to guess amounts from round numbers.
Bull Bitcoin says every time a BULL Wallet user buys or sells Bitcoin on-chain through the built-in exchange, the transaction will be a Payjoin by default. The company says this can passively aggregate a wallet's UTXOs. A UTXO is a small amount of Bitcoin left from a previous transaction that can be spent later. Aggregating them can reduce future Bitcoin mining fees, which are the costs paid to include a transaction in a block.
The press release says Payjoin-by-default automates the process of merging coins by spending them to a new address. Bull Bitcoin says this can reduce the size of Bitcoin's UTXO set, making it easier for people to run a Bitcoin node, and can reduce fee pressure for Bitcoin users.
Payjoin trading is intended to protect users from people trying to learn about their financial habits through chain analysis. Because Bitcoin transaction amounts are public, the company says information such as a salary or a strategy such as dollar-cost averaging, which means buying regularly over time, can be inferred. Bull Bitcoin says the implementation reduces round numbers in amounts sent and reduces address reuse, which can make it harder for third parties to guess the fiat value of transactions.
Earlier Payjoin work and how users access the feature
In December 2024, BULL Wallet became the world's first Bitcoin wallet to integrate the Payjoin V2 protocol, according to the article. The company says this was an experimental project coordinated with Dan Gould and the Payjoin Dev Kit team, who have since founded the Payjoin Foundation. It says researchers used insights from that work to improve the Payjoin experience.
To use the new features, a user downloads BULL Wallet, creates a Bull Bitcoin exchange account, and logs into the account through the BULL mobile app. Bull Bitcoin says the rest happens automatically.
The company says that as more people use Bull Bitcoin, the Bitcoin network gains more privacy as a whole. It describes this as part of its philosophy to align the incentives of the company with the interests of all Bitcoin users.
Source for this article
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.