Bullish is a centralized cryptocurrency exchange (CEX) used for trading digital tokens. The trading platform was founded in November 2021. It is registered in Gibraltar. The Bullish crypto exchange uses a private blockchain to increase security, transparency, and resilience to a new level.
Bullish is a regulated exchange. It requires customers to verify their identity in compliance with KYC and AML requirements standards in the signing-up process. Users can neither register nor trade with the Bullish crypto exchange without completing their identity verification process first. Besides, Bullish is licensed by the Gibraltar Financial Services Commission’s Distributed Ledger Technology Regulatory Framework.
Bullish cryptocurrency exchange services are not available in some locations including the United States, Canada, Japan, China, Israel, and Russia.
The Bullish exchange platform is accessible through a desktop app. The project does not have a mobile app, as of writing this article.
Bullish spot trading enables users to buy or sell orders without leverage. The trading platform does not support margin trading.
As of writing, the Bullish crypto exchange supports six tokens and seven trade pairs. The supported tokens are Bitcoin, Ether, EOS, USD Coin, Litecoin, and Chainlink. Bullish trading pairs include one crypto-crypto market (ETH/BTC) and six crypto-fiat markets.
The Bullish crypto exchange operates a high-performance central-limit-order-book matching engine and DeFi-derived order Liquidity Pools to run automated market-making and yield farming services. The Bullish Order Book pairs the high performance of a traditional Central Limit Order Book (CLOB) with Automatic Market Maker (AMM). Every trading pair is managed by customizable AMM instructions, which reward asset holders who provide liquidity to the asset pair. AMM instructions enable clients to trade and earn income at scale across highly variable market conditions.
Besides, note that Bullish crypto prices are stabilized by deep liquidity and tight spreads.
Bullish exchange fee structure uses a maker/taker model. Makers do not pay fees while takers pay a nominal fee of 0.1%. The Bullish crypto fee structure does not levy fees on both Makers and Takers of the USDC/USD market.
Users also incur transaction fees charged by the associated blockchain when withdrawing crypto from the platform. The fees are as followed:
- BTC – 0.0005
- EOS – Free
- USDC – $5
- ETH – 0.005
- LTC – 0.01
- LINK – 1
Withdrawal of fiat also attracts bank fees. For example, Silvergate Bank USD withdrawal fee charges $30 per transaction.
Bullish offers users the opportunity to earn through staking. They can deposit their funds into the Liquidity Pools and earn decent interest. The Liquidity Pools are operated by the AMM protocol. Bullish also offers API services that enable users easy access to the project's services.
Besides, Bullish also provides a layered custody solution. It combines self-managed hot wallets with complicated, multi-sig, white-list-only transfer protocols used for offline cold storage.
About the Company
Bullish was launched in 2021. The company was created as a subsidiary of Block.one, a blockchain company supported by popular investors such as PayPal co-founder and prominent venture capitalist, Peter Thiel.
The current Bullish trade volume can be viewed above. On January 25, 2022, Bullish volume hit a record daily trading volume of $300 million, with the total volume crossing the $5 billion mark.
Bullish cryptocurrency exchange announced the launch of Longhorn, an update to its AMM. The update enables unprecedented customizability in the range of prices, spreads charges, as well as bids and offers generated on the Bullish cryptocurrency exchange.
Bullish is seeking a merger with special purpose acquisition company Far Peak Acquisition Corp (NYSE: FPAC). The move will see Bullish go public on the New York Stock Exchange. The merger was initially scheduled for 2022.
The Bullish leadership team comprises financial services, blockchain, and technology experts. The parent company Block.one has a reputable founder – Brendan Blumer. Blumer is an experienced tech and blockchain expert who has successfully founded and guided the growth of other tech companies before. He launched Okay.com and an enterprise data-sharing platform for real estate brokers in Asia. He also co-founded the EOS blockchain.