How to Sell Your Bitcoin in Canada

Are you ready to sell your Bitcoin or Ether? Whether you’re selling a small amount to reward yourself or pay the bills or you want to cash out completely during the bull run, we’ve got you covered.

For our up-to-date guide, see Ways You Can Turn Your Bitcoin Into CAD.

Now you can send anywhere from $5 to $500,000 CAD worth of bitcoin to easily have them sold immediately — giving you a balance that you can withdraw to your bank account. Isn’t that amazing?

Once you have a CAD balance, you can request to send yourself an Interac e-Transfer of up to $25,000 per transfer, or a Bank Transfer for larger amounts up to $75,000.

Watch this video that will take you step by step through the process.

We’ll send over your funds expeditiously — boasting the fastest delivery timeframe in the Canadian Bitcoin space. Selling Bitcoin & Ether couldn’t get any faster and easier!

How to Sell Your Crypto on MyBTC.ca, Step by Step

1. Log in and complete identity verification if you haven’t already. ID is required to sell.
2. Choose the coin you want to sell: Bitcoin (BTC), Ether (ETH) or USD Coin (USDC).
3. Copy the receiving wallet address shown in your account and send your crypto to it from your wallet.
4. Once the required blockchain confirmations are reached, your crypto converts to CAD automatically and lands in your account balance.
5. Request a withdrawal by Interac e-Transfer or Bank Transfer.

Sell Fees, Limits and Confirmation Times

• Sell limits: $5 to $500,000 per order.
• Sell fee: 4.95% ($1.00 minimum). For example, selling $2,000 worth of Bitcoin costs $99 in fees.
• Confirmations needed: 2 for Bitcoin, 12 for Ether and 30 for USDC.

Withdrawal Options

• Interac e-Transfer: $10 to $25,000 per withdrawal, $5.00 fee, usually 0 to 6 hours. You can submit several requests a day, up to $100,000.
• Bank Transfer: $20,000 to $75,000 per withdrawal, $10.00 fee, 1 to 2 business days. Up to two per day ($150,000).

Need a walkthrough? See how to withdraw CAD with Interac e-Transfer.

Quick Answers

Do withdrawal limits cap how much I can sell? No. They apply to taking CAD out of your balance, not to the amount of crypto you can sell.

What about tax records? You can export your full order and withdrawal history as a CSV file from the History section of your account. MyBTC.ca doesn’t give tax advice, so check with a qualified Canadian tax professional.

Why hasn’t my sale converted yet? Your crypto converts once the required confirmations are reached. Bitcoin blocks are confirmed roughly every 10 minutes, so a busy network can add some waiting time.

Can I cancel a sale after I send my crypto? No. Blockchain transactions can’t be reversed, so make sure you’re sending the right coin to the right address.

Can I sell from a business account? Yes. MyBTC.ca supports both personal and business accounts. Contact our Corporate Wealth team to set one up.

Looking to purchase other cryptocurrencies while your sell order processes? Add more buying power! Buy cryptocurrencies fast online via Banxa using your credit card to send to your wallet so you can hit your trading target.

It’s not a profit unless you pull the trigger to lock in those gains, so try it out for yourself today, and thank you for choosing MyBTC.ca!