Upvote:4
Is it safe? If your personal security is good (i.e. nobody knows you have it) then it's as safe as carrying any other sum, but you have a lot to lose if you're unlucky and some malicious individual picks you as their target.
However, you will need to declare the money whenever you cross a border. Specifically, on your arrival in Canada you'll need to declare any amount greater than C$10,000 at Canadian customs and fill in a CBSA declaration card (Source). Since these requirements relate to money laundering you'll need a watertight explanation for why you need that much cash and where you got it. Note that this also applies to Traveller's Cheques, banker's drafts and other 'monetary instruments'
There is no limit on the amount you can carry, but the larger the sum, the more likely you will be to have a long conversation with a border guard.
Unless you really, really have no choice, you're much better using a bank to transfer the money.