The cheapest way to cash out crypto in Canada is to sell it on a registered exchange and withdraw Canadian dollars by Interac e-Transfer or EFT. On published fees, NDAX is lowest at a flat 0.20% plus CAD 1.50 for an e-Transfer, Newton charges no withdrawal fee, and Bull Bitcoin is the pick if all you hold is Bitcoin and you want it to go from your own wallet to your bank. Always add the fee and the spread together, because the spread is where most platforms make their money. Selling is a taxable event whichever way you do it.
- Lowest published fee: NDAX, 0.20% flat.
- No withdrawal fee: Newton, Bull Bitcoin.
- Bitcoin only, from your own wallet: Bull Bitcoin.
- Easiest app: Coinbase and Wealthsimple Crypto.
| Platform | Score | Trading Cost | CAD Withdrawal | Notes |
|---|---|---|---|---|
| Coinbase | 9.8 | Up to 1.875% fee on simple trades plus spread | Interac e-Transfer and EFT cash-out; fee not published | CSA-registered |
| Kraken | 9.2 | Pro 0.40% maker, 0.80% taker; Instant 1% plus spread | Interac CAD 10, up to CAD 10,000 | CSA-registered |
| Wealthsimple Crypto | 8.4 | 0.5% plus spread; Active Trader tiers down to 0% | Not retrieved | CSA-registered, CIRO dealer |
| Bull Bitcoin | 8.0 | No fee; spread only, about 2% each side on the Oct 1 live quote | Free e-Transfer, CAD 10 to 10,000 | Bitcoin only, FINTRAC MSB |
| Newton | 7.9 | Spread 1.00% to 1.15% on BTC, ETH, USDC | Zero withdrawal fees | CIRO dealer |
| NDAX | 7.8 | Flat 0.20% | Interac CAD 1.50; EFT CAD 4.99 | CIRO dealer |
Cryptocurrency has had some big runs, and while many are holding and waiting for the next one, more and more Canadian crypto traders are asking me how to withdraw their crypto assets into their Canadian bank accounts in the most cost-effective way. Having tested over 50 different exchanges, which I shared on this website OCryptoCanada, I've created a list of the best crypto exchanges and methods for withdrawing your crypto funds in Canada. Let's get started.
First, you need to decide which crypto asset you'd like to withdraw. If it's Bitcoin only, Bull Bitcoin sends the proceeds straight to your bank without the network and withdrawal fees exchanges often add, though you should read its spread before you click.
Which Exchange Is Best To Cash Out Crypto In Canada?
Coinbase: Easiest Way To Cash Out
9.8/10Best for: people who want a familiar app and a large coin list.
CSA-registered Restricted Dealer in all provinces and territories.
- FeesSpread plus a Coinbase fee of up to 1.875% on simple trades, depending on payment method.
- CAD WithdrawalInterac e-Transfer and EFT cash-out are supported. The fee is not published, so look at the preview before you confirm.
- Coins200+ assets
Pros
- Large coin list, so you can sell almost anything for CAD directly.
- Registered in every province and territory.
Kraken: Cheaper Selling On Kraken Pro
9.2/10Best for: larger sales where Pro's lower fees matter.
CSA-registered Restricted Dealer.
- FeesKraken Pro starts at 0.40% maker and 0.80% taker, and falls at higher volume. Instant buy and sell is 1% plus a spread.
- CAD WithdrawalInterac e-Transfer costs CAD 10, with limits of CAD 10,000 per transaction and CAD 100,000 a month.
- CoinsAbout 490 assets, derived from the public pair list
Pros
- Pro fees drop as your volume rises.
- Big coin list for selling altcoins straight to CAD.
Cons
- The flat CAD 10 withdrawal fee hurts on small sales.
Wealthsimple Crypto: Cash Out Next To Your Other Accounts
8.4/10Best for: people who already hold TFSA, RRSP or cash with Wealthsimple.
CSA-registered CIRO dealer member.
- FeesA flat 0.5% plus a price spread on market orders, or Active Trader status with 0.5% falling to 0% and a 0% spread. Orders under CAD 100 carry CAD 1.
- Withdrawal LimitsUp to CAD 10,000 daily and CAD 25,000 weekly across all coins, per a help article summary.
The fee schedule's own example is a 0.50% fee plus a 1.00% spread, or 1.50% all in. That is a long way from the 1.5% to 2% spread I quoted before. Read the schedule, which was updated on September 24, 2026.
Bull Bitcoin: Bitcoin Straight To Your Bank
8.0/10Best for: Bitcoin-only sellers who keep coins in their own wallet.
FINTRAC MSB Registered money services business, not on the CSA list.
Bull Bitcoin sends the BTC directly to your wallet, allowing you to avoid typical withdrawal and network fees that exchanges often have, which is a money saver. Bull Bitcoin allows direct transfers to Canadian bank accounts via Interac e-Transfer, making the process straightforward and efficient. The process is simple:
- Sell BTC for CAD.
- Select your withdrawal method. Most choose Interac e-Transfer, which is free, instant, and runs from CAD 10 to CAD 10,000. Bill payment and wire transfers are also free, with a CAD 25 minimum.
- Check your bank details. Make sure the account details are correct to avoid any issues with the transfer.
Bull Bitcoin has no processing fee, and the cost is a displayed spread. On the live page quote I checked on October 1, 2026, each side sat about 2.0% from the mid-price, a round-trip gap of about 4.0%. That is derived from the quote, not a published rate, and Prime users over $100,000 in volume get discounted rates. I used to call this the absolute cheapest way to convert BTC to CAD. I would not say that today without you checking the live quote first.
What I really love about Bull Bitcoin is that if you don't wish to withdraw your BTC to a Canadian bank account, you can pay any Canadian bill with Bitcoin. Similar to Bull Bitcoin is Bitcoin Well, which charges a 2.0% spread to sell on its online portal with no withdrawal fees, but I prefer Bull Bitcoin because of the extra options it has.
The major inconvenience with Bull Bitcoin is that you can only operate with BTC. Many people have different crypto assets and prefer to sell crypto to stablecoins first, like USDC, which is equivalent to the US dollar, and only after that withdraw to their Canadian bank account. In this case, you'll need to use centralized crypto exchanges. Remember that selling one coin for another counts as a taxable trade. Some platforms I used to mention have changed. Bitbuy accounts moved to Coinsquare Capital Markets in 2024, and since Robinhood closed its WonderFi purchase on June 1, 2026, those users are being moved to the Robinhood app, so I no longer recommend it to new users.
Newton: No Withdrawal Fees
7.9/10Best for: frequent cash-outs where flat withdrawal fees would add up.
CSA-registered CIRO investment dealer since March 18, 2026.
Next is Newton, which is almost tied with NDAX in my tests. While they don't charge for withdrawals, their spread is at a medium-high level in my experience. The published figure is 1.00% to 1.15% on Bitcoin, Ethereum and USDC, 1.25% to 1.45% on Litecoin, Solana and Stellar, and 1.50% to 1.60% on everything else. I used to quote 0.5% to 0.8%, which no longer matches the official schedule. Newton also covers up to CAD 5 of network fees on your first withdrawal each day, which can save a little. Limits are CAD 10,000 per e-Transfer and CAD 50,000 a week by e-Transfer and EFT combined.
NDAX: Lowest Published Fee
7.8/10Best for: altcoin sellers who want the lowest fee and a Canadian platform.
CSA-registered CIRO dealer member since December 19, 2024.
Based on my tests, NDAX was the cheapest and yet very reliable crypto exchange to withdraw crypto to CAD and later to your bank account. They charge a flat 0.20% on every buy and sell. When I tested it, their spreads were the most minimal among Canadian exchanges, so always calculate the fee plus the spread, because most of the "free withdrawal" places will take advantage of the spread. NDAX does not publish its spread, so my result is my own measurement and it may have moved. It also charges CAD 1.50 for an Interac e-Transfer withdrawal (up to CAD 10,000) and CAD 4.99 for a direct bank deposit.
In case you don't know what a spread is, the spread in cryptocurrency trading is the difference between the price at which you can buy a cryptocurrency (buy price) and the price at which you can sell it (sell price) on an exchange.
For example, if you can buy Bitcoin for $30,000 and sell it for $29,900, the spread is $100. This spread represents the exchange's profit margin on each trade and can affect the overall cost of your transactions. It's a sort of hidden fee you don't see, and this is how exchanges make money. With NDAX, my average spread was only 0.36%, which is very low in my tests. The majority of Canadian exchanges usually charge over 1%.
Sell Cryptocurrency On NDAX: Step By Step
- Go to Quick Buy/Sell.
- Select the coin you wish to sell.
- Enter the crypto and amount you want to sell for CAD.
- Review and confirm the quote.
- Click confirm selling, then withdraw the CAD to your bank.
As mentioned, there are more ways and exchanges where you can cash out your crypto in Canada to your bank account in Canadian dollars, but I highlighted the cheapest options in this article. I no longer list the Bitget P2P marketplace. Bitget is not available to Canadians, and a peer-to-peer route needs expertise and carries risk.
If the article was helpful, please support my blog by using my referral links in the article.
Do You Pay Tax When You Cash Out Crypto In Canada?
Yes, selling crypto for Canadian dollars is a transaction you report. The CRA says a capital gain means you include half of it, called the taxable capital gain, in your income for the year, and the example on its page turns a $5,600 gain into $2,800 of taxable gain. Whether your sales are a capital gain or business income depends on how often you trade and how business-like you are. Allowable capital losses can only be deducted against capital gains. They carry back three years or forward indefinitely. Keep a record of the CAD value on the day of each sale. My tax reporting guide shows the full list.
Does Gifting Crypto Avoid Tax?
No, and I need to correct what I used to write here. I used to suggest gifting your crypto so it would not count as income. The CRA lists gifts and donations as a transaction type to report. Giving crypto away is a disposition, so you may have a capital gain on the coins you give if they rose in value, and the person receiving it sells later with their own gain or loss. Buying a gift card with crypto is also a taxable event for you. There is no tax-free exit here.
What Are The Other Ways To Cash Out Crypto In Canada?
Gift Cards And Spending
There are other ways to use cryptocurrency in Canada without selling to a bank. The most popular and reliable service I know for bills is Bull Bitcoin, and gift cards are available from Coincards and others. Every one of these counts as a sale for tax, and I cover the options in spending Bitcoin in Canada. Newegg.ca takes crypto through BitPay, with limits.
Bitcoin ATMs
Another way to sell cryptocurrency in Canada is to use a bitcoin ATM. Not every machine buys, and the federal government proposed a ban on crypto ATMs on May 6, 2026. If you do find one, the usual process goes like this, though ATMs differ and some will ask for ID:
- On the ATM, select withdraw or sell.
- Enter your phone number and the SMS verification code.
- Select your crypto and enter the amount.
- Open your wallet app and send the exact amount of crypto shown.
- Scan the QR code on the ATM and confirm.
- Wait for the SMS saying your crypto is ready, which could take minutes or hours.
- Click redeem, enter your phone number and code, then enter the redemption code from your receipt.
- Take your cash and receipt.
When you're looking to cash out bitcoin in Canada, I recommend using a registered crypto exchange. They are safe, offer the lowest fees, and you can withdraw Canadian dollars straight to your bank account. If you choose to spend crypto or gift it, be mindful of the taxes you will be liable for.
When I cash out, I send my funds to Coinbase and sell and withdraw there. The last time I did it was about two weeks ago.
What Changed For Cashing Out Crypto In Canada In October 2026?
- Wealthsimple updated its crypto fee schedule to a flat 0.5% plus a spread, or Active Trader tiers down to 0% with a 0% spread, plus CAD 1 on orders under CAD 100.
- Robinhood closed its WonderFi acquisition. Bitbuy and Coinsquare users are being moved to the Robinhood app in phases.
- The federal government proposed a ban on crypto ATMs, which affects the ATM cash-out route.
- Newton was admitted to CIRO membership as an investment dealer.
Other Ways To Sell Or Spend Your Crypto
Frequently Asked Questions
What Is The Cheapest Way To Cash Out Crypto In Canada?
On published fees, NDAX at a flat 0.20% plus CAD 1.50 for an Interac e-Transfer, but always add the spread, which NDAX does not publish. Newton has no withdrawal fee, and Bull Bitcoin has no fee at all with the cost in its spread.
How Do I Withdraw Crypto To My Canadian Bank Account?
Sell the crypto for CAD on a registered exchange, then withdraw by Interac e-Transfer or EFT. Kraken charges CAD 10 for e-Transfer, NDAX CAD 1.50, and Newton and Bull Bitcoin charge nothing.
Is Cashing Out Crypto Taxable In Canada?
Yes. A sale is a transaction you report. The CRA says half of a capital gain is taxable, and gains can be business income if you trade like a business.
Does Gifting Crypto Avoid Tax In Canada?
No. The CRA lists gifts and donations as reportable transactions, so you may have a capital gain on the crypto you give away.
What Is A Spread And Why Does It Matter?
The spread is the gap between the buy and sell price, and it is how most platforms earn money. A platform with no fee can still cost more than one with a fee if its spread is wide.
Can I Cash Out Bitcoin Without Selling On An Exchange?
You can send it to Bull Bitcoin or Bitcoin Well, which pay out CAD by e-Transfer or bill payment, or use a Bitcoin ATM that buys, though ATM availability may change after the federal ban proposal.
Oleg,
I am new to Bitcoins however I now have $110375.97USD. +1.940143 BTC. Trust Wallet and Eth I want to withdraw some of that and I don’t know how to, Could you help me out. I just got a message to withdraw within 24 hours!! Thank you so much. I remain,
Email: gardening2u@gmail.com
Phone” 613-220-3458
I would suppose it’s scam email. You don’t get such requests usually, watch out.
I dont know how to sell my bitcoin
Pl video call me how to sell coinbase
Hi Oleg, I have a Cryptocurrency account I want to withdraw money from into my Canadian TFSA Bank Account. What amount would you suggest is best to not raise a red flag with my bank? Please reply to: vernacularlady@gmail.com