How to Sell Bitcoin for Cash in the GTA | The Coin Shack

How to sell Bitcoin for cash in the GTA

Selling Bitcoin in the Greater Toronto Area comes down to two choices: cash in hand at a store, or money sent to your bank. Here is how both work with The Coin Shack, and what each costs.

TL;DR

Cash today: sell at our Markham store, from 5.00% under $1,000 down to 2.50% from $5,000. Under $1,000 needs no ID.
To your bank: sell online for 1.85%, paid by Interac e-Transfer after one confirmation.
Send exactly the amount shown, on time, or what you are paid changes.
Keep a record of what you paid. Gains can be taxable, so ask your accountant.

Sell for cash at our Markham store

Bring your phone with your wallet to 238 Copper Creek Dr, Markham. We agree the price, you send the Bitcoin to us at the counter, and we hand you cash once it arrives. Trades under $1,000 need no ID.

Our cash sell rate is 5.00% for $100 to $999, 4.00% from $1,000 and 2.50% from $5,000. For $10,000 and more, contact us or our OTC Desk for a quote. The current table is on the store page.

Sell online and get paid to your bank

With a verified account you can sell online any time. Send Bitcoin from your wallet and we pay you by Interac e-Transfer, usually soon after one network confirmation, for a fee of 1.85% included in the price. Larger amounts, from $5,000 to $25,000, can be paid by bank transfer in 1 to 3 business days. See Sell Online.

Before you sell

Send exactly the amount shown. Sending more or less, or sending late, changes what you are paid; the details are in our Terms.
Keep a record of the price you paid for your Bitcoin. In Canada, gains on Bitcoin can be taxable, so ask your accountant.
Selling a large amount? Book a call first so we can plan the timing with you.

Questions

Can I sell Bitcoin for cash in Toronto?

Yes, at our store in east Markham, a short drive from Toronto. Cash sells under $1,000 need no ID.

How fast do I get paid online?

Interac e-Transfer payouts are usually sent soon after your Bitcoin has one network confirmation. Bank transfers take 1 to 3 business days.

What is the minimum I can sell?

$100, online or in store.