If you want to sell Bitcoin for Canadian Dollars then you are in the right place. Below I will direct you to a Canadian cryptocurrency exchange that allows you to sell BTC for Canadian Dollars and withdraw the funds into your Canadian bank account. I’ve outlined the process in an easy to follow step-by-step guide further down the page.
***Disclaimer: The content provided in this article is not financial advice. We are simply providing an information guide outlining how to sell Bitcoin for Canadian Dollars, if that’s something you already intend to do. All readers should do their own research when deciding to buy or sell any cryptocurrencies online.
Where To Sell Bitcoin In Canada
| Exchange | Bonus | Visit |
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Buy and Sell Cryptocurrencies | Visit |
**Full Disclosure: We are members of the Bitbuy affiliate program and may earn commission on user referrals.
Bitbuy.ca is a top cryptocurrency exchange for Canadians. They offer BTC/CAD trades and allow you to withdraw Canadian Dollars to your Canadian bank account.
Bitbuy is located in Canada and compliant with all Canadian regulations.
How To Sell Bitcoin For Canadian Dollars – 4 Step Guide
Follow this simple four step guide to learn how to sell Bitcoin (BTC) into Canadian Dollars and withdraw directly to your bank account.
Step 1. Join Bitbuy.ca
**Full Disclosure: We are members of the Bitbuy affiliate program and may earn commission on user referrals.
First you will need to open an account with an online crypto exchange that offers BTC/CAD trades and allows Canadian Dollar withdrawals.
Click here to visit BitBuy.ca and select the ‘Sign up to get started’ button. Complete the sign up form to open your account. You will have to verify your phone number and email address to set up the account.
You are also required to verify your identity before using Bitbuy to buy or sell cryptocurrencies. This involves providing your name, birthdate, address, and home address. The verification process is almost instant after you’ve provided the required information.
Step 2. Deposit Your Bitcoin
Next, you will have to deposit the BTC you want to trade for Canadian Dollars.
On your ‘Accounts’ page open the ‘Bitcoin’ drop down menu and select ‘Deposit’.
The BTC deposit page will provide you with a wallet address where you can send the Bitcoin that you want to sell. Bitcoin deposits are credited to your account after 3 confirmations. You can follow the progress of the deposit by selecting ‘History’ from the top menu bar on the Bitbuy website.
**It can take a few minutes before the transaction shows up as ‘In Progress’ on your crypto transactions page.
Step 3. Sell Your Bitcoin
After the 3 confirmations (or shortly thereafter) the BTC deposit will show up in your account. You can now sell your Bitcoin for Canadian Dollars.
Click the ‘Sell’ button beside your BTC amount to go to the Bitcoin Express Trade page.
On the Express Trade page you will have to enter the amount of BTC you want to sell. Here’s a screenshot showing the sale of 0.035 BTC continuing with the example above (screenshot from October 2021).
If you are happy with the value you will receive in Canadian Dollars, click the ‘Sell Bitcoin’ button to process the trade.
Step 4. Withdraw Canadian Dollars To Bank Account
After the Bitcoin sale you will see the Canadian Dollar balance on your ‘Accounts’ page.
You now have the ability to withdraw the Canadian Dollars to your Canadian bank account.
If you want to move the funds from Bitbuy to your bank click ‘Withdraw Funds’ beside your CAD Balance.
On the withdrawal page you can select either Interac e-Transfer or Wire Transfer. For the purposes of this guide we will be using an Interac e-Transfer withdrawal as the example.
Enter your withdrawal amount and select your Canadian bank.
There is a 1.50% fee on Interac e-Transfer withdrawals, and the minimum withdrawal is $50.
You will have to complete a two-factor authentication to complete the withdrawal request. Your Interac e-Transfer will be sent to your registered Bitbuy email address within 24 hours. The withdrawals are often completed within a few hours.
You will need the security answer to complete the Interac e-Transfer. You will find this on the ‘Settings’ page of your Bitbuy account.
That’s it. If you followed and completed those steps you should have sold Bitcoin for Canadian Dollars and withdrew the funds to your bank account.