You can use CoinSmart's iOS app to conduct a number of transactions for your everyday trading :)
Once you've sold some crypto or funded your account with CAD, you will (of course) have a CAD balance. You can transfer this balance to any bank account at anytime - also referred to as a "Withdrawal". For example, if you have a BTC balance in your CoinSmart wallet and you sell it for CAD, you can now withdraw this amount to your bank account.*
To withdraw your CAD, please follow the steps outlined below:
- Sign-in to the app and you'll be directed to the main wallets page.
- Tap on the "Fiat" tab.
- Once here, you'll see your CAD Wallet - tap on it and tap "Withdraw" on the bottom right corner.
- Here you'll see all the information you need to enter to complete the transfer. Please ensure all the information is correct, especially:
- Transit Number (usually 5 digits)
- Account Number (usually 7 digits)
- Institution Number (usually 3 digits)
- Once you've entered all the information and ensured that it's correct, you're all set! The funds will be processed by our team and will be delivered to you within a few days.**
Fairly simple, right? Posted below is a video walkthrough for this same process - be sure to check that out!
Once the banks have approved the information and confirmed the transfer, the funds will be deposited into your bank account. You can find more guides to help you with other transactions on our main FAQ page.
As always, if you ever have any questions or need any help you can reach out to us directly via:
- E-mail: firstname.lastname@example.org
- Chat (Available 24/7)
And we'd be happy to help you make your trading experience a great one!
*CoinSmart's minimum withdrawal amount is $50.
**Canadian Dollar Withdrawals are sent via Electronic Funds Transfer (EFT). We conduct them in batches once every business day. They are usually reflected in user's bank accounts within 1-2 business days but take anywhere from 1 - 5 business days depending on sending and receiving bank transfer times.