Where to Sell Bitcoin in Canada

Did you see that Bitcoin was having a price rally and felt the urge to cash out your holdings? Are you a bit tight with money this month, so selling your bitcoins seems like the most cost-effective thing to do? Whatever your reasons, MyBTC.ca is here to assist you!

The MyBTC.ca team has created a guide on how to sell your Bitcoin in Canada. We’ll give you a tour of the different options and their pros and cons and show you how to choose the method that works best for you. Also, we’ve included a quick tutorial on how to sell your BTC using the Sell Bitcoin option over at MyBTC.ca.

Selling BTC: A Step-by-Step Guide

Head on over to MyBTC.ca and click the “Sell Bitcoin” option to sell your bitcoin faster than anywhere else in Canada to get you started today, or click here:

Join the MyBTC.ca platform — MyBTC.ca supports the crypto-to-fiat trading pair you need (e.g. BTC/CAD). We offer a streamlined approach to identity verification checks (KYC), so make sure you have your ID within reach.

Make a Bitcoin deposit — In order to sell BTC, you need to send the coins from your external cold wallet, hot wallet application or other third party exchange platform. When sending your bitcoins to sell on MyBTC.ca, you’ll need to copy your Bitcoin autosell address from the MyBTC.ca/sell page.

Sell your bitcoins — As soon as you have sent your BTC and received the email notification that your MyBTC.ca account balance has been populated with Canadian dollar funds, click on the Withdraw button on the page. Here, you’ll need to specify the amount of CAD you want to withdraw and the method of delivery you prefer. Most people opt to send themselves an Interac e-Transfer as it’s simple, familiar and speedy.

How to Choose the Best Option for Withdrawing CAD After Selling Your Bitcoin

Now that you’ve sold your Bitcoin, time to get your hands on those gains! What delivery method should you choose to control and pocket those gains? Depending on your preference, MyBTC.ca offers solid options when cashing out after selling your Bitcoin. Each delivery method including Bank Transfer, Interac e-Transfer and the New MyBTC.ca Black Prepaid Visa card serves its purpose given the needs of the client. For instance, larger amounts $20,000 CAD or more are usually delivered via Bank Transfer within 1-2 business days.

The Interac e-Transfer payout method is the most popular since the majority of Canadians already use this function within their online banking on a daily basis. The cool factor is definitely present when selecting the New MyBTC.ca Black Prepaid Visa card delivery method and even offers a cash back rewards program. Whether your Bitcoin sell amount is big or small, MyBTC.ca offers a payout delivery method to service them all.

How to Sell Bitcoin on MyBTC.ca

To make things even easier for you, we’ll now walk you through the process of selling Bitcoin on MyBTC.ca. As you’re about to see, it’s really quick and straightforward.

1. Visit the MyBTC.ca website and find the Sell Bitcoin option from the toolbar in the top right corner. Click on it.

2. Here, you’ll find the receiving wallet address. You can either copy the destination wallet address using the clipboard provided or scan the QR code.

3. Next, open your wallet account or external exchange account and paste the wallet address. Choose the amount of BTC you’ll sell to MyBTC.ca (between $5 and $100,000 worth of BTC). Confirm the order and wait for the blockchain network to confirm it at least twice.

4. After 2 network confirmations we’ll credit your MyBTC.ca account balance with CAD — minus a fee. MyBTC.ca will then send you an email notification to inform you that your funds are ready to be withdrawn.

Selling Bitcoin or Ethereum Outside of Canada? Sell bitcoin and other cryptocurrencies quickly online via Banxa here to withdraw CAD.

Final Thoughts

By the end of this guide, we’re confident that you’ve learned the basic steps behind selling your bitcoins. Although there’s no learning curve to the process and it’s far from time-consuming, you need a reliable platform that can convert your coins without delays and unnecessary service costs.

The MyBTC.ca team puts a lot of effort into providing the best rates without compromising the platform’s performance and security. Therefore, we invite you to visit the MyBTC.ca/sell page when waiting for the next big Bitcoin bull run.

It is recommended users first complete identity verification on the MyBTC.ca/verification page and sell a small test amount to see how the system works so you’re ready when the time comes to go big.

Published: 2021-12-20


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