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The easiest way for Binance users to convert their Bitcoin to CAD to send to a Canadian bank

Dec 04, 2020
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byNDAX Labs

How to sell Bitcoin on Binance in Canada?

Canadians looking for a safe and affordable way to sell their Bitcoin on Binance for Canadian dollars to send to their Canadian bank can use both Binance and NDAX -- a Canadian bitcoin exchange.

  • Sign in or create an account on NDAX to get a Bitcoin wallet address
  • ➁ Send your Bitcoin from your Binance wallet to your NDAX wallet
  • ➂ Trade your BTC to Canadian dollars
  • ➃ Send your Canadian dollars to your bank account

                       


                             

Sign in or create an account on NDAX to get a Bitcoin wallet address on a Canadian cryptocurrency exchange.

  • Sign in or create an account on NDAX
  • • On your dashboard, select the WALLET icon on the left-hand side of the screen
  • • In your wallet, select BITCOIN
  • • Scroll down and click the GREEN DEPOSIT BUTTON
  • • Copy your Bitcoin address

You will be sending your Bitcoin from Binance to this address to deposit into your NDAX account

             


                           

Send your Bitcoin from your Binance wallet to your NDAX wallet  

  • Log in to your Binance account.
  • • Click on WALLET on the upper right-hand side of the page, then select SPOT WALLET
  • • Click WITHDRAW on the top right-hand side
  • • Select BITCOIN from the list
  • • Enter or paste the BTC address from NDAX into the field labelled Recipient's BTC Address
  • • Enter the withdrawal amount
  • • Click SUBMIT
  • • Click CONFIRM
  • • Next, you will be asked to verify your identity (Security verification), click GET CODE and enter the required codes
  • • You have now transferred your Bitcoin from Binance.

Note: Phone verification code and email verification code will be valid only for 30 mins.

                     


                                                             

Trade your BTC to Canadian dollars

Selling your Bitcoin in Canada (BTC/CAD)

  • • Go back to the NDAX trading platform
  • • Click TRADE on the left-hand side of the screen
  • • On the trade page, click SELL (Red button) on the right side of the screen
  • • Click the small GREY ARROW in the upper left corner of the screen to pick the BTC/CAD pair
  • • Click on MARKET
  • • Enter ORDER SIZE (How much you want to sell) either in BTC or CAD
  • • Click PLACE SELL ORDER

                                     


                                                           

Send your Canadian dollars to your bank account

Send a withdrawal to any Canadian bank

  • • Click WITHDRAW at the top of the screen
  • • Select the FIAT TAB on the left side of the screen
  • • Ensure CAD is selected and click the WITHDRAW button
  • • Choose the method of withdrawal: EFT or WIRE TRANSFER
  • • Select BANK ACCOUNT or ADD ACCOUNT if this is your first time.
  • • Type in the amount you would like to withdraw or click MAX
  • • Click WITHDRAW NOW

You have now successfully converted your Bitcoin from Binance to Canadian dollars.

                         


                           

Also see:

                           


                                   

For any other questions, please contact our support team or visit our help desk.

If you are based in Canada and looking for a Canadian Bitcoin exchange, then take a look at  NDAX. NDAX is an easy-to-use, beginner-friendly exchange that can give you easy access to trade Bitcoin and other cryptocurrencies like Ethereum, XRP, Litecoin, Cardano, Dogecoin, EOS, Tether,  Polkadot, Chainlink and Stellar.

Happy trading!