Bull Bitcoin has recently gone global, expanding services in France. The privacy-focused Bitcoin exchange bootstrapped its team and expanded to other countries. whole eurozone. It is only one-year after they announced their expansion in Costa Rica.
“Bull Bitcoin is probably the longest-running Bitcoin-only, self-custodial exchange,” Theo MogenetBitcoin Magazine quoted Bull Bitcoin’s Europe General Manager in an article. interview.
“When you buy Bitcoin from us, it goes straight to your wallet, we never hold client funds—and it reflects Francis’s vision of privacy and the cypherpunk ethos.”
https://x.com/Bull Bitcoin_/status/1881371651251769619
Found in Montreal Canada in 2013 Bull BitcoinThe non-custodial model of exchange is the main claim to fame for. Bull Bitcoin does not take fiat money and then credit your bitcoin account. Instead, users are required to provide a Bitcoin address public before making a purchase. Bull Bitcoin can now quickly transfer bitcoin to a user’s chosen wallet after receiving fiat.
They were also early supporters of the Lightning Network You can also find out more about the following: Liquid NetworkAll of these platforms offer their users significant privacy advantages.
They have also developed a product line that is not focused on trading or speculation, but rather on bitcoin being used as a currency.
Bull Bitcoin allows users to use bitcoins for their monthly payments, such as electricity bills, rent, data plans and even real estate. Bull Bitcoin also offers a Bitcoin wallet app It is in its very early stages but has already gathered a list of impressive features.
One subtle but powerful difference between Bull Bitcoin and most other exchanges is their bitcoin-only stance, which rejects selling altcoins that are the bread and butter of most exchanges — monetizing the speculative fervor of the crypto markets.
Bull Bitcoin ignores most of the cryptocurrency market and concentrates on Bitcoin. This allows Bull Bitcoin to adopt cutting-edge technology before its competition. Bull Bitcoin’s team doesn’t have to worry about compliance or technical debt, which are inherent risks when supporting hundreds of altcoins.
This has resulted in a highly profitable business with a small and lean team, which is now international.
Privacy Is Not A Crime
Bull Bitcoin’s founding story could be the final element to its success. Started by French Canadian entrepreneur Bitcoin Maximalist Francis PouliotVC funds have not been received by the company.
Although it was not easy to stick to the original cypherpunk vision that bitcoin would be the sovereign currency, the company has been able to take decisions and implement strategies other exchanges avoid. 
Now they enter the EU as many other cryptocurrency companies are departing from the EU. Businesses like Deribit left Europe years ago Even giants such as Tether have been squeezed from the European Union because of regulatory pressure. Bull Bitcoin has jumped into the fray, recognizing an opportunity for reaching a previously underserved audience.
Bull Bitcoin’s compliance approach is very different from that of other participants in the market. Many crypto exchanges have overcomplimented, out of excessive caution. Bull Bitcoin has stayed true to the letter, while looking for ways to protect its users against overzealous politicians and regulators.
“We have a lot of experience dealing with the government. We come from Canada so we are used to government oversight. The compliance burden of the European Union, although much higher than Canada, doesn’t scare us,” Bitcoin Magazine: Francis Pouliot.
Theo Mogenet has been added to the list
“We have certain obligations in terms of fighting money laundering — that we cannot really circumvent. But as you mentioned, when, for example, a government, be it in Canada or here in Europe, will ask for a bulk of transactions without any judicial mandate, without any legal basis to do so, our policy is just to fight back and make sure that we can use every piece of legislation that is out there — to basically push back on the government’s demand.”
Expansion into Costa Rica
Bull Bitcoin is expanding beyond Canada and Europe. Bull Bitcoin has been making its way into Latin American markets in recent years.
First to be the first “Bitcoin exchange in the country,” it quickly integrated with the very popular mobile text payments service SINPE Móvil, allowing users to trade sats for fiat quickly and in a way the local population was familiar with.
Francis, his team and their videos of enjoying Central American weather have become increasingly popular amongst farmers’ markets, and many other retailers.
Francis protested against the Covid regulations in Canada and urged Francis to move away from Costa Rica.
Bull Bitcoin has partnered up with The Bitcoin JungleThe open-source grassroots initiative is similar to that of the Bitcoin Beach Community in El Salvador. It maps out and teaches Costa Ricans how they can benefit from Bitcoin and use it to leverage its ecosystem and money.
What are the burdens of self-custody?
Bull Bitcoins’ commitment to the cypherpunk ideals hasn’t been without its challenges. While self-custody is a way to reduce the burden on the company, it also poses a security and compliance risk. This requires a highly educated and responsive user base.
A self-hosted webpage is an impressive feature. “simple chat system” The approach gives users quick and reliable access without having to depend on third-party platforms, to an experienced Bitcoiner that can provide them with a fast turnaround.
“In our case, it’s a self-hosted permanent chat. So it’s running on our servers. Like no client data is shared with outside parties. And you will basically chat with a human, usually like, for example, in Europe, it would often be me or Jimmy or customer support officer. Sometimes it’s even Francis that is answering to clients,” Theo Mogenet, the company’s customer service manager, spoke about his process.
The processes they have in place are designed to prevent scams and to protect users. They even call their customers when the track is on customer service.
“We can also have like a 10-, 15-minute conversation with them to make sure that they know what a Bitcoin wallet is, what the risks with self-custody are to be sure that they are not pressured or pushed by someone to do that,” Theo explains on the podcast.
The phishing scam is a problem that affects Bitcoin and cryptocurrency exchanges. Naive users are talked into purchasing crypto in order to give to the scammers to ease pressure or to escape from lies.
The team is also active in providing support to the company. in 2022 Bull Bitcoin acquired VeriphiA “white glove service provider for Bitcoin self custody”. The company had a strong presence in Quebec’s Bitcoin scene, and gained a great deal of expertise with self-custody.
This service has been integrated with their entire product range and is available on a special website. bitcoinsupport.comUsers can choose from a variety of education and consulting packages that will help them on their journey to bitcoin self-custody.
The Fork War: The Self-Hosted Infrastructure
The focus on self-hosted infrastructure did not come from a place of ideology alone, but was a hard-earned lesson from the 2017 Bitcoin fork war—the internal conflict within the Bitcoin industry about what path Bitcoin scaling development should take and who got to decide this.
Francis Pouliot, in a speech from 2017, explained to the audience the challenges the Bitcoin community was facing at that time. He also discussed the economic node game theory and the Bitcoin consensus thesis, which ultimately won out.
Faced with a faction of the Bitcoin community called Bitcoin Unlimited that wished to scale Bitcoin by increasing the block size—a technical option rejected by Bitcoin Core developers at the time—Francis Pouliot and the Bull Bitcoin team led an effort to educate and rally Canadian Bitcoin businesses against the proposed hard fork, as seen in this letter of intent from 2017 Signed by 16 Canadian companies
Bull Bitcoin has also begun building. CyphernodeThe a “modular Bitcoin full-node microservices API server architecture and utilities toolkit to build scalable, secure, and featureful apps and services without trusted third parties.”
A year later this software suite became open source software, which allowed Bull Bitcoin as well as associated companies to have a voice in that split. They could choose the version of Bitcoin they wanted to show their support for, or the version they would follow if there was a contentious split in the Bitcoin network.
Software independence could be useful to combat another battlefront in the culture war. A corporate alliance consisting of data service providers, mining pools and exchanges would join the fight and seek a consensus change for the Bitcoin Protocol, called the NY Agreement. It supported a SegWit2x version of Bitcoin.
Blockchain.com and Coinbase were among the 50 companies that made up this alliance, which included mining pools on paper with more than 80% of hashing power And yet, they are also behind you. challenged developer and community consensus.
Bitcoin Unlimited and NY Agreement Coalition would lose this fork-war to the community and developer consensus who used tools like Cyphernode and supported the backward-compatible SegWit Soft fork is a solution to scaling Bitcoin which maintains consensus with the older versions and will eventually be successful.
Bull Bitcoins’ role in fighting for the decentralization and privacy of Bitcoins in 2017 along with their adherence to cypherpunk ideals over the past decade makes them legends of Bitcoin.
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Source: bitcoinmagazine.com
