Oleg Galeev

6 mins ago

How And Where To Spend Bitcoin and Other Crypto In Canada

You’ve got Bitcoin and other cryptos that you wish to spend. Unfortunately, when you sell crypto for Canadian dollars, you’ll be liable for capital gains tax on profits. If you’re selling a large sum, the tax bill could be large. You might also incur withdrawal fees and network fees when converting to Canadian dollars. This cost can add up, so it doesn’t always make financial sense to sell crypto. To help you solve this problem, we’ve researched some of the places where you can spend bitcoin and other cryptocurrencies in Canada directly, without having to sell first. 

Web Stores & Services That Accept Bitcoin In Canada

Coincards 

Coincards Canada website screenshot

Coincards is the most reliable way to spend Bitcoin and other cryptocurrencies. You can shop prepaid Visa and Mastercards that you can use in stores and online. These cards work like debit cards. Just select an amount from $25 to $250 then receive the card in the mail. 

Coincards also have hundreds of gift cards you can purchase. You can buy gift cards for Amazon, Air Canada, Best Buy, and hundreds more.

Coincards accepts bitcoin payments, which makes it a great way to be able to spend cryptocurrency without having to sell it back to Canadian dollars first. With Coincards, you can spend Bitcoin in Canada pretty much anywhere you like. 

Coincards accepts the following cryptocurrencies:

  • Bitcoin
  • Ethereum
  • Monero
  • Litecoin
  • Dash
  • Dogecoin
  • Dai
  • USDC

Bylls

Bylls website screenshot

You can spend bitcoin in Canada with Bylls. Bylls is a solution for anyone looking to pay their bills with Bitcoin. Bylls have a list of more than 9,000 corporate billers. All you need to do is send Bitcoin to Bylls and they will send fiat to the company you wish to pay your bill. It’s easy to do and you can add your account and invoice numbers associated with the company. 

You can also use Bylls to purchase gift cards for popular brands in Canada, which makes it easy to spend your Bitcoin. 

Bitrefill

Bitrefill website screenshot

Bitrefill is a convenient way to spend bitcoin and other cryptocurrencies. They have thousands of gift cards you can purchase to spend your bitcoin. Categories include gaming, entertainment, groceries, travel, and many more. They have gift cards for hundreds of brands and stores across Canada such as Best Buy, Hudson’s Bay, and Telus. 

With Bitrefill, you can also top up prepaid mobile phones across popular mobile networks including Freedom, Rogers, and Fido. 

Using Bitrefill is simple. Just enter the amount you wish to purchase, pay with crypto by scanning the QR code, then receive your voucher. You do not need to create an account, but you can if you’d like to carry a balance with Bitrefill, making it even more convenient to spend bitcoin in Canada. 

Bitrefill is international and allows you to purchase gift cards in other currencies. It’s perfect for when you’re travelling or sending gifts abroad. 

Bitrefill supports crypto payments in:

  • Bitcoin
  • Ethereum
  • USDT
  • Dogecoin
  • DASH
  • Litecoin

Purse

Purse.io website screenshot

With Purse, you can spend cryptocurrency on Amazon. To use Purse, simply use their platform to search for the Amazon product you’re looking for or import an Amazon wishlist. Select the product you wish to purchase then checkout using your preferred cryptocurrency. 

The unique thing about Purse is that you can receive a substantial discount just for spending crypto. Once you’ve selected the item you want to buy, you can use the sliding discount tool to select what discount you’d like to receive. The higher the discount, the longer your item will take to ship. The lower the discount, the faster you will receive your item.

Pulse works by matching Amazon gift card holders with people who wish to spend bitcoin and other cryptocurrencies on Amazon. Buyers get a discount while gift cards holders receive crypto. 

Purse currently accepts

  • Bitcoin
  • Bitcoin Cash
  • Ethereum
  • Litecoin
  • ZCash

Newegg

Newegg website screenshot

Newegg is an online retailer with thousands of products in gaming, technology, software, electronics, and more. Select the products you’d like to purchase and they will be shipped directly to your door. If you’d like to spend your bitcoin on Newegg, then you can do so using Bitpay. Bitpay is a cryptocurrency payments processor. With Bitpay you can manage your bitcoin in your Bitpay wallet and receive a Bitpay Mastercard to spend your Bitcoin on Newegg and at other retailers. 

Bitpay accepts 

  • Bitcoin
  • Ethereum
  • Litecoin
  • Dogecoin
  • Wrapped Bitcoin
  • Bitcoin Cash
  • USD-Pegged stablecoins

SilverGoldBull

Silver Gold Bull website screenshot

Silver Gold Bull is an online Canadian store where you can buy silver, gold, and platinum coins and bars. Silver Gold Bull will accept bitcoin as payment, making it a great way to spend bitcoin from the comfort of your home. 

All cryptocurrency orders over $10,000 must be processed over the phone. When you spend cryptocurrency at Silver Gold Bull, you will receive a 4% discount. 

Silver Gold Bull allows you to spend bitcoin and other cryptocurrencies including:

  • Bitcoin
  • Bitcoin Cash
  • Litecoin
  • Ethereum
  • Dash

Fastbtc

FastBTC website screenshot

FastBTC is a Canadian company that allows you to receive quick cash for your bitcoin. You can buy and sell bitcoin and other cryptocurrencies using their website. When you sell bitcoin, you can receive cash as an Interac e-Transfer. There is no sign-up required. FastBTC is great when you want to exchange your crypto for fast cash and don’t want to wait for a withdrawal to process on a crypto exchange. 

To use FastBTC, just go to the website and enter your email address. Then, send bitcoin to the generated wallet address and wait to receive your e-Transfer. 

Overstock

Overstock is a US-based online retailer accepting bitcoin and shipping to Canada. Overstock specializes in home furniture and furnishings such as beds, couches, lamps, and much more. With Overstock, you can spend bitcoin on their website to pay for your order. 

Charity/Donation

There are various charities accepting bitcoin in Canada. At Crypto Giving you can find a list of charities where you can spend cryptocurrency including bitcoin, Ethereum and more. Donating to a charity can have benefits for the charity that they wouldn’t get with cash donations. When the market goes up, your donation will increase in value for the charity. 

You can claim charitable donations on your income taxes. Charities can provide you with tax receipts just as they would if you donated cash. However, unlike securities, cryptocurrency donations are not exempt from capital gains tax and you will have to pay any capital gains due on your donation. 

Conclusion

There are many web stores that accept bitcoin payments in Canada. With the number of gift cards available to purchase, and the ability to pay your bills with crypto, there is less need to convert crypto to fiat. Bear in mind that spending bitcoin and other cryptocurrencies count as taxable transactions, and you may have to pay tax as a result. For more information on paying taxes on cryptocurrency in Canada, see our ultimate tax guide

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