Exchange advice to sell >10BTC

[thecodebear]

The problem is if he uses Binance and other exchanges that require KYC he might end up paying taxes I heard that they ask for 50% tax on your capital gains from crypto in Canada. Instead of just paying fees, you'll also have to cover the associated taxes.

If you want to avoid that you don't have any other option but to use p2p exchanges like Bisq or Robosats.

uhh what? Of course he has to pay taxes no matter what exchange he uses. Unless you're literally telling him to break the law lol



OP,
Not sure why people are recommending decentralized exchanges considering their volume is very low, it'd probably take a while to offload 10 BTC on one of them.

Just look up whatever popular centralized exchanges operate in Canada and use one of them. No idea what withdrawal limits different exchanges have. You'll just have to look that up. Usually you can increase the standard daily/weekly withdrawal limit.

[jrrsparkles]

The traditional exchanges are the cheapest and fastest way to convert your BTC to CAD and you already said you have no issues with paying the tax but the only concern is the 1.5% withdrawal fee. Well, exchanges usually charge a fixed rate for withdrawals in most cases so you would be paying a lot less than that 1.5%.