You can transfer a domain to another registrar once 60 have passed from the date of registration. There are instructions here:
What you may want to do instead is simply point your domain to a new webhost using these instructions:
If you cancel a domain, it is held by the domain registrar and may be sold in auction or otherwise made unavailable to you.
If you wish to use it with a different hosting platform, in most cases all you need to do is update the nameservers as indicated above. For a few platforms they require a bit more assistance (A Records/CNAMEs), so if that's the case in your situation, just let Staff know what needs to be updated.
You can also transfer the domain to a different registrar. There is no cost to do so but the new registrar will likely require you to renew it for at least one year with them.
I have tagged this thread for Staff. Please subscribe to the thread so you are notified when they respond and please be patient while waiting.