For Canadians

[lokkom]

How do you cash out your bitcoins?

[BCMB]

QuadrigaCX is my go-to. Depending where you are there may also be some ATMs around. Cities like Toronto and Vancouver have a few.

[lokkom]

Do you actually pay tax? Does the gov know if you used crypto?

[HabBear]

Check out the BTC Sessions videos on YouTube. If Ben Perrin doesn't answer this question, send him an email...he'll respond.

This guy is from Calgary and makes the best informational videos on Bitcoin. And he scores some great interviews with the cryptocurrency industry's finest. The only thing he's missing is a Don Cherry suit to match his wicked shades.

[thomastthom]

I have heard about bitcoing ATM machines placed in Canada. And I am also interested in knowing whether they pay taxes or not. If they do then based on what?

[BCMB]

Do you actually pay tax? Does the gov know if you used crypto?

Yes, I suspect that the any exchange registered in Canada would have a requirement to report to the CRA. It would probably depend on the amount to determine whether or not they would come after you... I'm also not sure how they would determine what your cost basis is if theres no record of your buying.

[Emoclaw]

There aren't many exchanges that support BTC/CAD exchange due to regulatory and/or volume reasons.
QuadrigaCX is a fairly new exchange that has BTC/CAD pair, but it might be risky.
You could also cash out to USD and then buy CAD but fees would be bad.

[caravel]

BTC -> QuadrigaCX -> bank account
BTC -> virwox -> paypal -> bank account
BTC -> OSRS gold -> paypal -> bank account

All the above have been used and confirmed to work by me.

That being said, canadians have it harder then other countries to cash out BTC.
Or at least it feels that way.

[lokkom]

What about coinsquare guys?