Looking to sell Bitcoin in Canada and turn your BTC into Canadian dollars? MyBTC.ca gives Canadians a dedicated way to cash out Bitcoin from a personal wallet, hardware wallet or external cryptocurrency platform and receive CAD. If you can send it, you can sell it!
Unlock your crypto assets like Bitcoin today! There’s no need to place trades on a complicated exchange. Send Bitcoin to your MyBTC.ca cryptocurrency exchange auto-sell address and, once the transaction reaches the required blockchain confirmations, your BTC is automatically converted into Canadian dollars.
From there, your CAD balance is ready for withdrawal using an available Canadian payout method like Interac e-Transfer.
Sell Bitcoin for Canadian Dollars
Bitcoin trades globally around the clock. It never sleeps and neither does MyBTC.ca, giving Canadian BTC holders a local off-ramp when it’s time to move some of that value back into Canadian bucks in your bank.
Your account provides the Bitcoin address needed to initiate the sale. Send the amount of BTC you want to cash out and, after 2 confirmations on the Bitcoin blockchain, the sell order executes and converts your Bitcoin into CAD.
MyBTC.ca currently supports Bitcoin sell orders ranging from $5 to $500,000 CAD per transaction, giving customers the ability to sell anything from a small amount of BTC to a considerably larger position.
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MyBTC.ca has served Canada’s Bitcoin community since 2016, providing Canadians with a 100% local option for moving between BTC and CAD.
How to Sell Bitcoin in Canada
Already have Bitcoin in your personal wallet, favourite trading platform or gaming account? Here’s how the MyBTC.ca sell process works:
- Sign into or complete identity verification to onboard your MyBTC.ca account.
- Navigate to Sell Bitcoin.
- Copy your unique Bitcoin auto-sell address or scan the QR code.
- Open the wallet or cryptocurrency platform holding your BTC.
- Send the amount of Bitcoin you want to sell to the address provided.
- Wait for 2 Bitcoin network confirmations.
- Your BTC is automatically sold & converted to CAD & credited to your account balance.
- Withdraw your CAD using an available payout method like Interac e-Transfer.
Once the sale has completed, MyBTC.ca notifies you that the Canadian-dollar funds have been added to your account balance.
IMPORTANT: Do not send any other digital asset to the above Bitcoin (BTC) auto-sell address as it may not be recoverable and result in permanent loss.
Where to Sell Bitcoin in Canada
Canadians have several ways to turn BTC into dollars, including a Canadian crypto exchange, Bitcoin ATM, peer-to-peer platform or P2P marketplace, and other cryptocurrency service providers. Each cash-out method can have different fees, limits, verification requirements, security measures and payout options. Comparing those differences can help you decide how you want to convert your crypto assets into Canadian cash.
Cryptocurrency exchanges like MyBTC.ca take a different approach.
Instead of requiring you to move your Bitcoin onto an exchange and manually place a market order, MyBTC.ca uses intelligent auto-accept technology with your dedicated Bitcoin auto-sell address. Send BTC to that address and, after the required network confirmations, your Bitcoin is automatically converted into CAD so you can withdraw.
Sell From Your Existing Bitcoin Wallet
Your BTC might be sitting in a Bitcoin wallet, hardware wallet, hot or cold crypto wallet, or on another cryptocurrency trading platform. If your wallet allows you to send BTC over the Bitcoin network, you can transfer the amount you want to sell directly to your MyBTC.ca auto-sell address.
That’s fine. If you can send Bitcoin from that cryptocurrency wallet on the Bitcoin network, you can transfer the amount you want to sell to your MyBTC.ca auto-sell address.
You don’t have to move your entire Bitcoin balance. Send the amount associated with the sale you want to make and keep the rest wherever you currently store it.
From BTC to a CAD Balance
Once your Bitcoin transaction reaches 2 network confirmations, MyBTC.ca executes the sell order and converts the BTC into fiat currency CAD.
That CAD is then reflected in your MyBTC.ca balance and can be withdrawn using an available Canadian withdrawal method.
It’s the reverse side of buying Bitcoin: CAD to BTC when you buy, BTC back to CAD when you sell. As you trade, make capital gain, or do whatever you do with Bitcoin, MyBTC.ca is your dedicated on & off ramp.
Cash Out Bitcoin With Interac e-Transfer
For many Canadians, Interac e-Transfer is already part of everyday banking.
The MyBTC.ca platform supports CAD withdrawals by Interac e-Transfer from $20 to $25,000 per transaction. The current withdrawal fee is $5, with a listed timeframe of 0–6 hours, and in some rare circumstances longer. Typically during regular hours, process times are near-immediate.
Customers withdrawing larger amounts can also use Bank Transfer (similar to a Wire Transfer), currently available for transactions from $20,000 to $75,000, with a listed fee of $10 and timeframe of 1–2 business days.
Got a question? Contact our industry leading 100% Canadian customer support.
Selling Larger Amounts of Bitcoin
Sometimes cashing out Bitcoin means considerably more than a few hundred dollars.
MyBTC.ca currently supports BTC sell orders of up to $500,000 CAD per transaction. Withdrawal limits are separate, and multiple withdrawal requests may be submitted per day.
If you’re planning a substantial Bitcoin sale and have questions about your big transfer, sending BTC or withdrawing your resulting CAD balance, contact our Canadian client specialists before making the transfer. Our staff will guide you through the process so you can cash out with confidence.
A real person can help you understand the process before you move your Bitcoin.
How Much Bitcoin Can I Sell?
You don’t need to sell one whole Bitcoin, and you certainly don’t need to liquidate your entire wallet.
Bitcoin is divisible, allowing you to choose the amount of BTC you want to turn into Canadian dollars. MyBTC.ca’s current Bitcoin sell-order range is $5 to $500,000 CAD per transaction.
That makes the same sell system useful for someone cashing out a small amount of BTC and someone handling a much larger transaction.
Before You Send Your BTC
Bitcoin transactions are generally irreversible once sent and confirmed, so take a moment to check the details before pressing send.
Every cryptocurrency transaction sent over the Bitcoin network should be reviewed carefully before it is submitted. Check the receiving address, confirm that you’re sending BTC on the correct network and review any Bitcoin network fee charged by your wallet before approving the transfer. Once confirmed, blockchain transactions generally cannot be reversed.
Copy your MyBTC.ca Bitcoin auto-sell address directly or use the supplied QR code rather than manually typing a cryptocurrency address. MyBTC.ca’s existing Bitcoin sell instructions specifically recommend copying the address or scanning its QR code to reduce the risk of an input error. These are simple security measures that will help keep you safe.
Confirm the address, make sure you’re sending Bitcoin (BTC) on the Bitcoin network, and verify the amount before authorizing the transaction.
Frequently Asked Questions
Can I sell Bitcoin in Canada?
Yes. MyBTC.ca allows Canadians to sell BTC and automatically convert it into Canadian dollars after the required Bitcoin network confirmations.
What is the minimum amount of Bitcoin I can sell?
The current minimum Bitcoin sell order on MyBTC.ca is $5 CAD worth of BTC.
What is the maximum Bitcoin sell order?
MyBTC.ca currently lists a maximum of $500,000 CAD per Bitcoin sell transaction.
What does it cost to sell Bitcoin?
The current MyBTC.ca fee schedule lists the Bitcoin sell-order fee at 4.95%.
When is my Bitcoin converted into Canadian dollars?
BTC sell orders execute and convert to CAD after the Bitcoin transaction reaches 2 confirmations.
Can I sell Bitcoin from a hardware wallet?
Yes. You can send the BTC required for your sell order from an external wallet capable of making a standard Bitcoin transaction. MyBTC.ca’s existing sell instructions specifically accommodate Bitcoin held in external cold wallets, hot wallets and third-party cryptocurrency platforms.
Can I cash out Bitcoin with Interac e-Transfer?
After your BTC has been sold and converted to a CAD balance, Interac e-Transfer is one of the available withdrawal options. The current per-transaction range is $20 to $25,000. Need more faster? All good, you can withdraw multiple times. Contact our team to plan your big sell transaction.
Can I withdraw a larger amount to my bank?
Yes. Bank Transfer is currently available for withdrawals between $20,000 and $75,000 per transaction, and the fee schedule notes that multiple withdrawal requests can be submitted per day.
Do I have to sell all my Bitcoin?
No. You decide how much BTC you want to send and sell, provided the transaction falls within the applicable limits.
Can I buy Bitcoin again through MyBTC.ca?
Absolutely. MyBTC.ca supports both directions. Buy Bitcoin with Canadian dollars when you want BTC, or sell Bitcoin and convert it back into CAD when you want your money fast.
Need Help Selling BTC?
Selling Bitcoin can involve real money and, in some cases, substantial amounts of it. If you have a question before sending your BTC, talk to us first.
MyBTC.ca’s Canadian client specialists are available by phone, text and email to help with the sell process, your account, transaction questions and CAD withdrawals.
No need to figure out a large Bitcoin transaction through a chatbot. Talk to a real human and get the information you need before you send.
More About Selling Bitcoin in Canada
Bitcoin doesn’t have a closing bell. The network runs continuously, and BTC can move between Bitcoin addresses at any hour of the day.
MyBTC.ca connects that decentralized network back to something very familiar to Canadians: CAD in your Canadian account.
Send BTC from your own wallet to your MyBTC.ca auto-sell address. After two blockchain confirmations, the Bitcoin is converted into Canadian dollars. From there, choose an available withdrawal method and move your CAD where you need it.
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