Canada: sell crypto and withdraw CAD to your bank (Kraken)
A plain walkthrough of the steps in Kraken's own help pages. Screens change, so treat the official pages linked below as the source of truth. This is not financial or tax advice.
Before you start
- CAD withdrawals to a bank are for Canadian clients: Interac e-Transfer (C$10 fee, minimum C$15, 0 to 1 business days or instant) or EFT (0.35% fee, minimum C$50, 2 to 5 business days).
- Canadian clients must be verified. Canadian regulatory limits on net purchases depend on your client classification (Permitted, Accredited or Eligible). Check Kraken's article on these classifications.
- Only withdraw to a bank account you control, with a name matching your verified Kraken account, and not to a third-party payment processor.
- Kraken lists direct CAD pairs for BTC, ETH, USDT, SOL, DOGE and XRP, but not for ADA.
1. Sell the crypto
- In the Kraken app: tap +, then Sell, and pick the asset you hold.
- Enter the amount (you can switch between cash value and crypto amount). The cash is credited in the default currency saved in the app; to receive Canadian dollars, change it in Account settings before you sell.
- Tap Continue to review the sale, then Confirm. Your new cash balance appears in Portfolio.
2. Withdraw to your bank
- On the Kraken website: Transfer tab, then Withdraw. Choose the asset (Canadian dollar).
- Under Method, choose e-Transfer or EFT, then add your bank account the first time, using a nickname and the name on the account.
- Select the bank account, enter the amount (numbers only, no currency symbols), click Review Withdrawal, check the details and click Withdraw.
Fees, timing and limits to watch
- Fees: this calculator models the Kraken Pro order-book fee (0.80% taker at the base tier) and the C$10 e-Transfer withdrawal. The one-click sell in the app is a different product, with a 1% fee plus a spread. Compare the fee shown on the review screen before you confirm.
- Another option in Canada is Newton, shown in the comparison with its published fee range instead of one number.
- Taxes are not included in any estimate here.