Turning your Bitcoin, or another cryptocurrency, into Canadian dollars and sending it to your bank account
Website (instructions for the mobile app below)
Step 1 - Sending the cryptocurrency to your Bitbuy account
a) While logged in, navigate to your Accounts page
Click on 'Accounts', located at the top of the page.
b) Select the cryptocurrency you are depositing
Locate the cryptocurrency you want to send to your Bitbuy account, and click on it. This will bring up a new page with chart details for that coin!
c) Click the 'Transfer' button, and select 'Deposit' from the pop-up that appears
d) Send cryptocurrency to your Bitbuy wallet address
Your cryptocurrency wallet address will be displayed here. You can share your wallet address by clicking on 'Copy to Clipboard' and pasting it into an email or message.
IMPORTANT: The wallet addresses in your account will change periodically for security reasons, however, once a wallet address has been used it will be associated with your Bitbuy account from that point onwards.
d) Wait for your cryptocurrency deposit to be confirmed!
Cryptocurrency deposits made to your wallet address will be automatically credited to your account after a certain number of confirmations on the blockchain. For more information on how long this may take, please click here.
Step 2 - Selling your cryptocurrency for Canadian dollars
a) Start your sale!
While logged in, navigate to the 'Express Trade' page of your account.
b) Complete your transaction
Select the cryptocurrency and the amount you would like to sell. The amount of Canadian dollars you will receive will appear below 'Transaction summary'.
When you are ready to continue, click the 'Sell' button to complete your sale!
For more details about selling via Limit order using our Pro Trade feature, please see here.
Step 3 - Sending your Canadian dollars to your bank account
a) Start your withdrawal request
Once logged in, navigate to your 'Accounts' page.
b) Start your withdrawal request
At the top of the page, click on the 'Withdraw' button.
Please note that you must have a minimum Canadian dollar balance of $50 to do so. If you are not holding enough to meet the minimum, this button will appear inactive.
c) Select your withdrawal method
Choose your withdrawal method (e-transfer or wire) and enter the dollar amount you are looking to withdraw, and the name of your bank. Click 'Next' when you are ready and enter your two-factor authentication code on the next page to complete your withdrawal request.
If you are withdrawing via e-Transfer, we will send it to the email address linked to your Bitbuy account.
If you are withdrawing via Bank Wire or Electronic Bank Transfer, a Bitbuy representative will reach out to you for your banking details after your withdrawal request has been made.
Mobile App
Step 1 - Sending the cryptocurrency to your Bitbuy account
a) Locate the cryptocurrency you want to deposit
Once logged in, you should be brought to the 'Wallets' section of your account. From here, locate the cryptocurrency you want to deposit and tap on it.
b) Locate your Bitbuy deposit wallet address
On the next page, tap on the 'Deposit' button.
c) Send to your Bitbuy wallet address
Your cryptocurrency wallet address will be displayed here. You can share your wallet address by clicking on 'Click To Copy' and pasting it into an email or message.
Any deposits made to that wallet address will be automatically credited to your account after the required number of confirmations on the blockchain.
d) Wait for your cryptocurrency deposit to confirm
Cryptocurrency deposits made to your wallet address will be automatically credited to your account after a certain number of confirmations on the blockchain. For more information on how long this may take, please click here.
Step 2 - Selling your cryptocurrency for Canadian dollars
a) Start your sale
Once logged in, tap on 'Trade' at the bottom of your screen.
b) Complete your transaction
Select the cryptocurrency and the amount you would like to sell. The amount of Canadian dollars you will receive will be displayed below. When you are ready to continue, click the 'Place Sell Order' button to complete your sale.
To learn how to sell via limit order on the mobile app, please see here.
Step 3 - Sending your Canadian dollars to your bank account
a) Start your withdrawal request
Once logged in, tap on the 'Withdraw' button next to your CAD balance.
Please note that you must have a minimum Canadian dollar balance of $50 to do so. If you are not holding enough to meet the minimum, this button will appear inactive.
a) Select your withdrawal method and submit your request
Choose your withdrawal method and enter the dollar amount you are looking to withdraw, and the name of your bank. Click 'Next' when you are ready and enter your two-factor authentication code to complete your withdrawal request.
If you are withdrawing via e-Transfer, we will send it to the email address linked to your Bitbuy account.
If you are withdrawing via Bank Wire or Electronic Bank Transfer, a Bitbuy representative will reach out to you for your banking details after your withdrawal request has been made.