How to Sell Crypto in Canada

If you're looking to sell or cash out your crypto in Canada, check out the tutorial video below on how to do so. Below that, I've also written out the process.

Ndax

From my experience, the best place to sell or cash out your crypto would be with Ndax assuming that they support the coin that you want to cash out.

If you're looking to cash out with Ndax, you'll first want to see if they support the coin. You can see if they support the coin here. If they do, you'll want to create an account with them. Upon creating your account, you'll want to find your wallet address. To do this, select the "Wallet" tab on the left side bar. Then, select the coin that you're wanting to cash out. Select the "Receive" button at the bottom in green. When you do, it may prompt you to choose a network. Select the network you wish to send your coins on. If it doesn't prompt you, then nothing needs to be done. After it should give you your wallet address that you should send your coins to.

In terms of the fees, you would incur a trade fee and a cash withdrawal fee. Ndax's trade fees are 0.2% at near market value. As for cashing out, they have 2 methods: e-transfer and electronic funds transfer (EFT). E-transfers are $1.50 per transfer and you can send a maximum of $3,000 per transfer per day. Their EFTs are $4.99 and have no limits. An important thing to note about EFTs though is that they can only be processed during bank business hours. This means no weekends and holidays. When EFTs are processed though, you typically receive the funds within 24 hours.

Given Ndax's cash withdrawal fee structure, if you plan on cashing out more than $9,000 in a single go, the EFT option would be cheaper than through several e-transfers ($4.99 V.S. $6 minimum) assuming that you don't need the money somewhat immediately.

Sign up with Ndax to get yourself a $10 bonus after a $100 trade

Ndax Doesn't Support The Coin I Want To Sell...

If Ndax doesn't support the coin that you want to sell or cash out, then there are a couple of workarounds for that.

The first would be to see if Bitget has it. Check here to see if they have it. If they do have it, create an account with them if you can. Upon creating your account, hover over the wallet icon in the top right corner, and select "Deposit." In the drop down menu, select the coin and the network. When you do, it'll give you your deposit address. Send your coins over to the address given. When you receive your coins, sell them for USDC (ideally) or USDT if there's no USDC trade pair. If Bitget doesn't have a USDC trade pair for that coin, you can sell it for USDT. After with the USDT, you can buy USDC. Once you have USDC, send it off to Ndax. In terms of the network to send the USDC on, choose Binance Smart Chain (BEP20) as that's the cheapest (0.29 USDC). 

Save 20% on your trade fees on Bitget

If however Bitget is restricted in your region, check out Bitunix. Check here to see if they have it. If they do, then create an account with them. Upon creating your account, hover over the "Assets" tab in the top right corner and then select deposit. You'll then select your coin from the drop down menu along with the network. Upon doing so, you will be presented with a wallet address. Send your coins to the wallet address that is given by Bitunix. When you receive it, sell it for USDT in the spot market. You would then use that USDT and buy USDC. Once you have USDC, send it off to Ndax. In terms of the network to send the USDC on, I normally send it using Solana (1 USDC). 

Save 25% on your trade fees on Bitunix

Nothing Works...

If none of what I've just suggested above works, I may be able to help you find an alternative method. Check out the consultations page as I can work with you 1 on 1 to turn your coins into cash.