Sell Crypto in Canada

Cryptocurrency is here to stay. Bitcoin, ETH, and other cryptocurrencies are becoming more ingrained in Canadian life, and I expect this trend to continue into the future.

If you found this page you most likely have some cryptocurrency that you are looking to sell for Canadian Dollars. If this is the case, then you are in the right place.

On this page I will point you in the direction of a popular Canadian cryptocurrency exchange that allows you to sell a variety of major cryptocurrencies for Canadian Dollars. I will also outline a simple four step guide you can follow to sell your crypto at the exchange website. At the bottom of the page I will link to articles outlining how to sell specific cryptocurrencies such as Bitcoin and Ethereum.

**Disclaimer: The content provided on this page is not financial advice.  All readers should do their own research when deciding to sell any cryptocurrencies online.

Best Crypto Exchanges For Canadians

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Kraken.com is our recommended exchange for Canadians interested in selling cryptocurrency for Canadian Dollars. Kraken has several Canadian Dollar trading pairs available including BTC/CAD, ETH/CAD, USDC/CAD, XRP/CAD, SOL/CAD, and more. If Kraken does not have a Canadian Dollar pairing, you can add the step of trading your cryptocurrency into BTC (or any currency they offer a Canadian Dollar pair for) first and then selling for CAD.

Kraken makes it very easy to withdraw your Canadian Dollars to your bank account after selling your crypto. Kraken allows Interac e-Transfer withdrawals of up to $10,000 daily with a set withdrawal fee of $10. If you have a larger sum to withdraw you can also use the EFT option which has a fee of 0.35% of the withdrawal amount.

4 Step Guide To Selling Crypto

Follow this simple four step guide to sell any of the major cryptocurrencies for Canadian dollars.

**I will be using the Kraken Pro platform version in this tutorial because it’s a little bit more complicated. The simple Kraken version is very straight forward, but the options are very limited and the fees are slightly higher (1% flat for trades vs -0.02% to 0.4% in Kraken Pro).

Step 1. Open An Account at Kraken.com

You will need to create an account with an online cryptocurrency exchange that has Canadian dollar trading pairs, and allows users to withdraw funds into Canadian bank accounts.

Click here to visit Kraken.com, then enter your email in the Create An Account form to start the sign up process. You will have to agree to the terms and verify your email to create your account.

After your account creation you will still have to verify your identity with Kraken by completing their Know Your Customer process before you can use the full functionality of the exchange.

Step 2. Deposit Cryptocurrencies

Next you will have to deposit the cryptocurrencies you want to sell into your Kraken account.

On your Kraken Pro home page click ‘Deposit’ from the top menu bar and select (or search for) the digital currency that you want to deposit. You will then have to select the Network that the deposit will be sent on and you will be provided with a unique deposit address where you can send your funds. Here is an example screenshot showing where to click for an Ethereum deposit:

After selecting the network that you’re sending the cryptocurrency on you will by taken to a page that will provide you with the wallet address for depositing the cryptocurrency. This page will also outline the deposit fee, minimum deposit amount, and expected processing time. For example an ETH deposit on the Ethereum Network will be automatically credited to your account after 30 confirmations, which is expected to take around 6 minutes. You can monitor the progress of the deposit in the Recent Activity section of your Kraken Pro home page.

Step 3. Sell Cryptocurrency For Canadian Dollars

After the cryptocurrency deposit shows up in your account it’s time to sell your coins for Canadian Dollars. Click ‘Trade’ in the main Kraken Pro menu (under ‘Home’). Then select the trading pair at the top of the screen and select ‘ETH/CAD’.

To quickly sell the ETH make sure you have the ‘Sell’ button clicked and the type of order set to ‘Market’. Then enter the quantity of ETH you want to sell and click the Trade button.

This page will show the order book as well, so you can monitor what price your trade will receive.

If you have a specific Canadian Dollar amount you want to sell for you can switch the ‘Market’ tab to ‘Limit’ and add your sell order to the book. Your order would then have to be filled by a buyer.

Step 4. Withdraw Canadian Dollars to Bank Account

You will now see the Canadian dollar balance resulting from the cryptocurrency sale in the ‘Balances’ section of your Kraken Pro home page.

Click the 3 dots on the far right of your Canadian Dollar balance line and select ‘Withdraw’.

On the CAD withdrawal page you can select ‘Interac e-Transfer’ or ‘Wire Transfer’.

Interac e-Transfers are available for withdrawal amounts between $10 and $10,000, and wire transfers are available for withdrawal amounts of $50 and up.

We will be using the Interac e-Transfer withdrawal method for this guide.

Enter your withdrawal amount and select your bank.

On the next page you will have to enter your two-factor authentication code to complete the withdrawal request.

You will then receive the Interac e-transfer to your Bitbuy registered email address within 24 hours (usually within an hour). You will find the security answer for the Interac e-Transfer on the ‘Settings’ page of your Bitbuy account.

Sell Specific Cryptocurrencies in Canada

Below you will find a list of our cryptocurrency specific “how to sell” guides. Each of these guides includes a simple step-by-step guide, with screenshots, outlining how to sell each specific cryptocurrency into Canadian Dollars and withdraw to your bank account.

Sell Bitcoin

BTC is the market leader in the cryptocurrency industry. It has the brand recognition and security that sets it apart from other cryptocurrencies in the space. On this page I provide a simple four step guide you can follow to sell your Bitcoin for Canadian Dollars and transfer the funds to your Canadian bank account.

Sell Ethereum

ETH is arguably the most popular cryptocurrency for online transactions, and is second only to Bitcoin in market cap. On this page I provide a simple four step guide you can follow to sell your ETH for Canadian Dollars and transfer the funds to a Canadian bank account.

Sell Litecoin

Litecoin was established back in 2011 as a spinoff of Bitcoin. It is one of the earliest cryptocurrencies that is still in use today. On this page I provide a simple four step guide you can follow to sell LTC for Canadian Dollars and withdraw to your bank account.