How to Sell Bitcoin in Canada Like a Pro

Welcome to the Great North of Crypto: Selling Bitcoin in Canada

So, you’ve got some Bitcoin stacked in your digital wallet and you’re ready to cash out. Maybe you’re eyeing a new snowmobile, or perhaps just want to escape crypto volatility faster than a loon in flight. Either way, selling Bitcoin in Canada is totally doable—if you know where to start.

With a growing number of platforms, evolving regulations, and different fees depending on where you click, it can feel like navigating a moose through downtown Toronto. But don’t worry—we’ll walk you through every detail on how to sell Bitcoin in Canada, the best platforms to use, fees to watch for, and who’s actually accepting crypto these days.

Oh, and we’ll sprinkle in a little humor, some expert tips, and a maple-syrup-smooth style while we’re at it.

Sell Bitcoin in Canada: What Are Your Options?

Let’s cut to the chase. If you want to sell Bitcoin in Canada, you basically have three main routes:

1. Centralized exchanges (CEX) like Coinbase Canada, Wealthsimple Crypto, and others.

2. Peer-to-peer platforms like Paxful or LocalBitcoins (though not everyone’s cup of Tim Hortons).

3. Crypto ATMs, which are great for quick, small transactions—less so for larger amounts due to high fees.

Centralized Exchanges: Fast, Easy, Regulated

Most Canadians choose to sell Bitcoin in Canada online using a centralized exchange. Why? They’re easy, fast, secure, and regulated under FINTRAC (Financial Transactions and Reports Analysis Centre of Canada). These platforms include:

• Coinbase Canada

• Wealthsimple Crypto

• Kraken

• Bitbuy

• Newton

Let’s dig into two of the most popular: Coinbase Canada and Wealthsimple Crypto.

Selling Bitcoin on Coinbase Canada: Simple, Slick, and Globally Trusted

Coinbase Canada is part of the globally recognized Coinbase brand. It’s designed with simplicity in mind—perfect for beginners. You just log in, go to your assets, select Bitcoin, hit the “Sell” button, and boom—you’re on your way to converting digital gold into loonies.

Why Use Coinbase Canada?

• User-friendly interface—a five-year-old could probably use it (but don’t let them).

• Top-tier security—we’re talking Fort Knox level.

• Linked Canadian bank accounts via Interac e-Transfer.

But there’s a catch…

Coinbase Canada Fees

Coinbase doesn’t exactly have the lowest fees. They charge:

• 1.49% for bank account sales.

• Up to 4% if you’re using a card.

• And the exchange rate spread? Sneaky, but real.

So if you’re selling $1,000 in Bitcoin, expect to see a decent chunk carved out by the time you’re counting your cash.

Want to sell Bitcoin in Canada online through Coinbase? Just make sure you calculate all costs. The interface is friendly, but the fees can turn nasty faster than Canadian weather.

Wealthsimple Crypto: Canadian-Born and CRA-Approved

If you like your platforms local and regulation-tight, Wealthsimple Crypto is calling your name. This Toronto-based fintech darling lets you buy, sell, and even automate your crypto investing—right from the same dashboard you use to manage your TFSA.

How to Sell Crypto on Wealthsimple

Here’s the 5-step quick and dirty:

1. Log into your Wealthsimple account.

2. Click “Crypto.”

3. Select your Bitcoin stash.

4. Hit “Sell.”

5. Choose your amount, confirm, and you’re done.

But Wait—What About Fees?

Ah yes, the dreaded Wealthsimple crypto fees. While Wealthsimple markets itself as transparent, there are still a few things to know:

• Trading fee: 1.5% per transaction (built into the price spread).

• Crypto withdrawal? That’ll be a problem. Wealthsimple doesn’t support crypto withdrawals to external wallets. That’s right—if you want to move your Bitcoin elsewhere, you can’t. You need to convert it to CAD first.

Wealthsimple Crypto Withdrawal Fees

Because of this setup, wealthsimple crypto withdrawal fees don’t exist in the traditional sense. You’re essentially forced to sell crypto into Canadian dollars before moving it to your bank. And that comes with its own cost—the 1.5% spread.

Best Crypto Exchange Canada: Top Contenders Reviewed

Not all exchanges are built the same. Some are sleek and secure, others feel like sketchy garage sales with fancy interfaces. When choosing the best crypto exchange Canada offers, you want low fees, solid reputation, easy CAD integration, and top-notch security.

Here’s how some of the best compare:

Who Accepts Cryptocurrency in Canada? Spend Your Satoshis

You’ve sold your Bitcoin. But what if you’d rather spend than sell? There’s a growing list of merchants and services that accept cryptocurrency in Canada.

Businesses That Accept Bitcoin in Canada

• Newegg.ca – tech gadgets and computer parts galore

• Overstock – furniture and home decor

• CanadaHelps.org – donate to your favorite cause

• Burger King (select locations) – Whoppers for Bitcoin? Yes please.

Some small cafes, barbershops, and even lawyers (yes, really) in major cities like Toronto, Vancouver, and Montreal now accept crypto through QR-code payment systems.

Still, it’s far from mainstream. While the question of “who accepts cryptocurrency in Canada?” has more answers than ever, most Canadians still choose to convert to CAD before spending.

Selling Bitcoin in Canada Online: The Steps, Risks, and Tips

Selling crypto online in Canada isn’t rocket science—but it’s not a walk in the park either. If you’re serious about getting the most for your Bitcoin, here’s how to play it smart.

Step-by-Step to Sell Bitcoin in Canada Online:

1. Choose an exchange – Pick one with the right balance of fees and features.

2. Verify your identity – All regulated exchanges require KYC (Know Your Customer).

3. Transfer your Bitcoin – From your wallet to the exchange.

4. Sell – Choose market or limit order.

5. Withdraw CAD – Straight to your Canadian bank account.

Risks to Watch For

• Price Volatility – Bitcoin price can swing faster than a hockey puck. Timing is everything.

• High Fees – Especially on Coinbase or using credit card methods.

• Scams – Only use regulated platforms. Always.

What’s the Bitcoin Price in Canada?

Let’s get one thing straight—the Bitcoin price isn’t static. It moves minute by minute and varies slightly by exchange due to liquidity and demand.

As of writing (and let’s pretend we’re on May 27, 2025), Bitcoin price in Canada might be somewhere around CAD $98,000. But yesterday? It could’ve been $102,000. And tomorrow? Who knows—Elon Musk might tweet again.

So always check the real-time Bitcoin price on a reliable platform before hitting “sell.”

Tax Talk: Do I Have to Pay Taxes on Sold Bitcoin?

Unfortunately, yes. In Canada, crypto is taxed like a commodity, meaning when you sell Bitcoin for CAD, you trigger a capital gain or loss.

• Held for investment? You’ll pay tax on 50% of the gain.

• Day trading like a madman? That might count as business income.

You’ll want to keep detailed records and perhaps hire a CPA who speaks fluent crypto.

Tips for Getting the Most When You Sell Bitcoin in Canada

Here are some golden nuggets:

• Use limit orders instead of market orders for better prices.

• Avoid selling during high volatility unless you enjoy heart attacks.

• Compare platforms—fees can vary by up to 3-4%!

• Beware of hidden fees like spreads and withdrawal costs.

• Double-check withdrawal times—some platforms can take days.

Final Word: Sell Smart, Stay Safe, and Stack CAD

Selling Bitcoin in Canada isn’t just about clicking “Sell” and calling it a day. It’s about knowing your platform, understanding your fees, keeping an eye on the Bitcoin price, and avoiding rookie mistakes.

Whether you’re using Coinbase Canada, Wealthsimple, or the next best crypto exchange in Canada, the key is to stay informed, stay cautious, and maybe even have a little fun while you’re at it.

And hey, if you’ve made a tidy profit? Don’t forget to treat yourself to a double-double and a box of Timbits. You’ve earned it.