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11. How Bitfinex users can convert their Bitcoin to CAD to send to a Canadian bank

Updated June 3, 2021

Canadians looking for a safe and affordable way to sell their Bitcoin on Bitfinex for Canadian dollars to send to their Canadian bank can use both Bitfinex https://www.bitfinex.com/

  • Sign in or create an account
  • Send your Bitcoin from your Bitfinex wallet to your NDAX wallet
  • Trade your BTC to Canadian dollars
  • 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 your dashboard, select the WALLET icon on the left-hand side of the screen
  • In your wallet, choose BITCOIN
  • Scroll down and click the GREEN RECEIVE BUTTON
  • Copy your Bitcoin address
    You will be sending your Bitcoin from Bitfinex to this address to deposit into your NDAX account.
    • Send your Bitcoin from your** Bitfinex wallet to your NDAX wallet.
  • Log in to Bitfinex
  • Go to the withdrawal page
  • Select BITCOIN
  • Paste the external address you copied from NDAX
  • Enter the amount you want to withdraw
  • Select the WALLETS you will be withdrawing funds from
  • Press REQUEST WITHDRAWAL

You now successfully sent a withdraw from Bitfinex to NDAX.


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 Bitfinex to Canadian dollars.