Sell Crypto in Canada on Binance: Crypto is very good and to some sense very safe to keep. But, since it’s not popularly accepted locally, you need cash for local purchase. Which is why you need to sell your crypto. If you live in Canada, we have a simple guide to help you sell or convert your crypto to cash.
You can easily sell crypto in Canada using the Binance Mobile App. The good thing is, you’ll have the cash deposited directly into your bank account. Follow the simple steps below.
How to sell crypto in Canada on Binance
Open the Binance Mobile App and click Wallets at the bottom left
Choose Funding from the options at the top (if your crypto is in Spot Wallet, you should transfer it to Funding before you continue). Follow our step by step guide to transfer your crypto from Spot to Funding Wallet.
Go to the P2P from the available options
Choose the Sell from the option available at the top
Select the crypto you wish to trade. E.g. Select BNB or ETH if that’s the crypto you have in your Funding Wallet. And look for a Buyer that is within your sell limit
Go to the Sell button usually in RED Color by the side of the Buyer’s name and Enter the quantity you wish to sell.
Choose Add payment method. Here you can select Add Interac e-transfer and enter your Interac e-transfer details (make sure your Interac e-transfer details are correct)
Now the Sell Trade will be created by Binance and the buyer will pay the money directly into your bank account in Step 7 above.
Once you receive payment, you have to mark the trade as completed by Releasing the Crypto to buyer.
Important Note: Never press the release crypto button if you have not received money from the buyer. Even after getting an SMS notification for credit alert, be sure to double check with your Banking App to know for sure. If you release crypto without buyer sending you money, then it will be difficult for Binance to help you.
This is how to sell crypto in Canada using the Binance Mobile App. It’s safe, easy, fast, and reliable. The cash will be sent into your bank account within minutes.