How To Sell Bitcoin And Cash Out To A Canadian Bank Account

• NDAX flat fee0.20%
• Wealthsimple flat fee0.50%
• Kraken Pro taker0.80%
• Newton spread, low end1.00%
• Coinbase fee, top1.875%
• Bull Bitcoin and Bitcoin Wellabout 2%

Read the table carefully. A platform can charge no fee and still cost the most, because the spread is the whole price. NDAX looks cheapest on paper and does not publish its spread. Coinbase and Wealthsimple add a spread to their fee. Treat these as published costs, not a final quote, and look at the sell preview before you confirm.

Part of my guide to cashing out crypto in Canada.

How Do You Sell Bitcoin In Canada Step By Step?

While many people want to hold bitcoin and other cryptocurrencies for the long term, it's never a bad idea to take profits. There could be a million reasons why you might want to sell bitcoin, but it's not always obvious how to do it. In my guide on how to buy bitcoin in Canada I covered the way in. Here is the way out. Depending on how you bought bitcoin in the first place, there are several ways you can sell it in Canada.

1. Decide where the coins are. If they are already on an exchange, you can sell there. If they are in your own wallet, you need to send them to a platform that will buy them.
2. Choose a platform from the table. For a small sale, a flat withdrawal fee matters more than the trading fee. For a large sale, the spread matters most.
3. Send a test amount first. If you are sending from a wallet, send a small amount, confirm it arrives, then send the rest. Wait for the network confirmations the platform requires before you sell.
4. Place the sell order. A market order sells at the quoted price right now. A limit order waits for your price and, on some platforms, avoids the spread. Check the preview.
5. Withdraw Canadian dollars. Interac e-Transfer is usually fastest. Check the per-transaction limits: Bull Bitcoin allows CAD 10 to 10,000, Kraken and NDAX allow up to CAD 10,000 per transaction, and Newton allows CAD 10,000 per e-Transfer and CAD 50,000 a week.
6. Record the sale. Save the date, the amount of Bitcoin, the CAD proceeds and what you originally paid.

How Do You Get The Cash Into Your Bank Account?

Selling is only half of cashing out. The other half is the withdrawal, and its fee and limit can matter more than the trading fee on a small sale. These are the payout terms each platform publishes.

For a large sale, check the per-transaction cap before you start, because splitting a payout across several days is a nuisance. If you are not sure which route to use, my page on the best crypto exchanges in Canada shows the full ranking.

Where Is The Best Place To Sell Bitcoin In Canada?

If You Hold Only Bitcoin And Keep It In Your Own Wallet

Bull Bitcoin FINTRAC MSB and Bitcoin Well are built for this. Bull Bitcoin has no processing fee and the cost is a displayed spread, which works out to about 2% from the mid-price on its live quote on October 1, 2026. Payouts by Interac e-Transfer are free, instant and run from CAD 10 to 10,000, and it also pays bill invoices. Bitcoin Well charges a 2.0% spread to sell on its online portal with no withdrawal, account or hidden fees.

If You Already Hold It On A Registered Exchange

Selling where the coins sit saves a network fee and a transfer delay. Coinbase, Kraken, Wealthsimple Crypto, Newton and NDAX are all registered in Canada and pay out to your bank by Interac or EFT. If you are a regular trader, Kraken Pro fees fall with volume, and Wealthsimple Crypto Active Trader status takes the fee from 0.5% down to 0% at very high volume, with a 0% spread throughout. NDAX keeps a flat 0.20% on everything. Based on my own tests it also had very tight spreads, though it publishes no spread figure, so that is my measurement and not a promise.

If You Are Selling A Large Amount

Over a certain size the spread, not the fee, decides your result, and an OTC desk can be worth a call. Bitcoin Well Infinite says it targets clients transacting $50,000 or more a year and onboards in a day or two, and Bull Bitcoin gives discounted rates to Prime users over $100,000 in volume. Remember that a business receiving $10,000 or more in virtual currency must report it to FINTRAC, and expect identity checks. That is normal, and it is the same on every registered platform.

If You Hold It On A Platform That Has Changed

Bitbuy accounts were moved to Coinsquare Capital Markets in 2024, and since Robinhood closed its WonderFi purchase on June 1, 2026, those customers are being moved in phases to the Robinhood app. If that is you, sell or withdraw through whatever the platform now offers, and export your full transaction history first. The CRA does not endorse specific software, but it does recommend you regularly export your records, because exchanges keep records for different lengths of time.

Can You Sell Bitcoin At A Bitcoin ATM In Canada?

Some machines buy bitcoin as well as sell it, but not all. You send the exact amount from your wallet to the ATM's QR code, wait for the network, then redeem for cash with a code and your phone number. It can take anywhere from minutes to an hour. The fees at the machine I tested were far above any exchange, ID applies from $1,000, and the federal government proposed a ban on crypto ATMs on May 6, 2026. See my Bitcoin ATM guide before you plan on this route. For most people, selling on a registered exchange is cheaper and simpler.

How Much Tax Do You Pay When You Sell Bitcoin In Canada?

Selling Bitcoin, whether you make a profit or a loss, counts as a transaction you report. The CRA says you work out a capital gain from your proceeds less your adjusted cost base, usually the cost of the crypto plus expenses to acquire it, and any outlays to sell. You then include half of it, the taxable capital gain, in your income. A $5,600 gain on the CRA's own example becomes $2,800 of taxable gain, taxed at your marginal rate. If you trade so often or so business-like that it is a business, the gain is business income and fully taxable instead.

Capital losses work differently. You cannot deduct allowable capital losses against employment income. They only offset capital gains, and you can carry them back three years or forward indefinitely. The CRA also says you must file a return to report a capital sale even if you owe no tax. Use my free Canada crypto tax calculator for a rough estimate, and read the full walk-through in how to report your crypto taxes in Canada.

Should You Sell Your Bitcoin Now?

I do not call tops or bottoms, and nobody else reliably does either. What I can say is practical. Decide your reason first: you need the cash, you are rebalancing, or you are locking in a gain. Sell in pieces if the amount is large, because that spreads the price you get and the tax event across your own timing. Compare the platforms in the table before the sale, not after. And do the tax math before you press confirm, because the bill arrives next April whether or not you kept the cash.