Transfer of BTC from hardware wallet to swissmoney

[megmegu]

Hello,
i don't know if this is the right place for this question but I would like to know what this means: "This wallet address only accepts tokens transferred by Bitcoin (BTC) network". If I transfer Bitcoin from a hardware wallet (BitBox), is it transferred by BTC network? How do I know which network it is using?
I'm entirely new to this, please excuse my little understanding of this topic.
I appreciate all the help i can get.

[1714728920]

1714728920

[OmegaStarScream]

Yes, sending your funds with the Bitbox should sent through the bitcoin network. Nothing to be worried about.

What I'm more concerned about is this exchange you're referring to. Although I don't see any bad reviews, I don't think I have ever come across it. Have you used it before? Regardless of where you're from, there are probably some better alternatives.

[Hatchy]

Hello,
i don't know if this is the right place for this question but I would like to know what this means: "This wallet address only accepts tokens transferred by Bitcoin (BTC) network". If I transfer Bitcoin from a hardware wallet (BitBox), is it transferred by BTC network? How do I know which network it is using?
I'm entirely new to this, please excuse my little understanding of this topic.
I appreciate all the help i can get.

Tokens? The Bitcoin network, only accepts Bitcoins not tokens and this means that you cannot transfer any other kind of coins through the Bitcoin network. All coins or tokens like you had mentioned works on different networks depending on which they were created on. So what ever network it was created on would be the only network on which it can be sent through.when you transfer BTC from your hardware wallet, it utilizes the Bitcoin network to process and validate the transaction.

What I'm more concerned about is this exchange you're referring to. Although I don't see any bad reviews, I don't think I have ever come across it. Have you used it before? Regardless of where you're from, there are probably some better alternatives.

I did a quick search on the exchange, and from what I got, op shouldn't trust such exchange with his funds. Here, read some reviews make by some users on trust pilot
https://www.trustpilot.com/review/swissmoney.com

[Charles-Tim]

i don't know if this is the right place for this question but I would like to know what this means: "This wallet address only accepts tokens transferred by Bitcoin (BTC) network". If I transfer Bitcoin from a hardware wallet (BitBox), is it transferred by BTC network? How do I know which network it is using?

OmegaStarScream is right.

Although, bitcoin is not a token but a coin. I wonder why a wallet should call it token.

[megmegu]

Yes, sending your funds with the Bitbox should sent through the bitcoin network. Nothing to be worried about.

What I'm more concerned about is this exchange you're referring to. Although I don't see any bad reviews, I don't think I have ever come across it. Have you used it before? Regardless of where you're from, there are probably some better alternatives.

Thank you for your reply. Do you mean swissmoney? (Sorry english is not my first language). I have not used it before, no.

[megmegu]

Hello,
i don't know if this is the right place for this question but I would like to know what this means: "This wallet address only accepts tokens transferred by Bitcoin (BTC) network". If I transfer Bitcoin from a hardware wallet (BitBox), is it transferred by BTC network? How do I know which network it is using?
I'm entirely new to this, please excuse my little understanding of this topic.
I appreciate all the help i can get.

Tokens? The Bitcoin network, only accepts Bitcoins not tokens and this means that you cannot transfer any other kind of coins through the Bitcoin network. All coins or tokens like you had mentioned works on different networks depending on which they were created on. So what ever network it was created on would be the only network on which it can be sent through.when you transfer BTC from your hardware wallet, it utilizes the Bitcoin network to process and validate the transaction.

What I'm more concerned about is this exchange you're referring to. Although I don't see any bad reviews, I don't think I have ever come across it. Have you used it before? Regardless of where you're from, there are probably some better alternatives.

I did a quick search on the exchange, and from what I got, op shouldn't trust such exchange with his funds. Here, read some reviews make by some users on trust pilot
https://www.trustpilot.com/review/swissmoney.com

These reviews made me think about it again yes. Then maybe I need to transfer to a different one.

[OmegaStarScream]

These reviews made me think about it again yes. Then maybe I need to transfer to a different one.

Where are you from? maybe we can recommend some more reputable services for you. I'm also curious as to how you found that site. did someone get in touch with you? or you stumbled upon some ads?

[megmegu]

These reviews made me think about it again yes. Then maybe I need to transfer to a different one.

Where are you from? maybe we can recommend some more reputable services for you. I'm also curious as to how you found that site. did someone get in touch with you? or you stumbled upon some ads?

Germany. I just looked up some sites, watched many videos about these exchange websites and most of them were convincing that swissmoney is relatively safe.

[LoyceV]

Germany. I just looked up some sites, watched many videos about these exchange websites and most of them were convincing that swissmoney is relatively safe.

I don't know the site. Maybe this German topic helps you.

[philipma1957]

I think Germany lets you use Kraken.

Kraken is fairly safe.


If your money is in a hardware wallet do not move it all into Kraken or maybe bitstamp

both kraken and bitstamp have decent reputations.  I do believe they both use germany.

If you have say 2 btc do not try more than .1 btc in the exchange you pick.

[LoyceV]

I think Germany lets you use Kraken.

I'm Dutch, and Kraken works for me. Germany is close enough so I expect it to be allowed.

[nc50lc]

but I would like to know what this means: "This wallet address only accepts tokens transferred by Bitcoin (BTC) network".
-snip-
How do I know which network it is using?

Those Exchanges or Custodial wallets that support alternatives such as tokenized Bitcoins in various networks to deposit Bitcoins often use that misleading message.
Heck, some even separate SegWit as another network. (lol)

The main takeaway is the mentioned "network" at the end of the note.
It shows "Bitcoin (BTC) network" so it means the main chain of the Bitcoin network;
But if you can show a screenshot (or reply) of all available networks displayed there and the corresponding notes, we can answer that with utmost certainty.

[megmegu]

Big thank you to everyone for your replies.
Does that mean that it is just an information or warning that I do not accidentally send bitcoins to my ethereum wallet in the exchange for example?
I think I am going to do it with Kraken now. If I want to deposit BTC in my exchange wallet the options for networks are "bitcoin" and "lightning", then the "bitcoin" option is the better option for the time being I would say?
Although I am not sure about the deposit addresses and if they have to be in the "bcq1" form.
The only thing I care about right now is that I don't lose my bitcoins through transfers

[LoyceV]

Does that mean that it is just an information or warning that I do not accidentally send bitcoins to my ethereum wallet in the exchange for example?

That's not possible. But you can send Bitcoins to for instance a Forkcoin address, and it will be very difficult (or impossible) to get your money back if you deposit to an exchange on the wrong chain.

I think I am going to do it with Kraken now. If I want to deposit BTC in my exchange wallet the options for networks are "bitcoin" and "lightning", then the "bitcoin" option is the better option for the time being I would say?

Correct. You have on-chain Bitcoin.

Although I am not sure about the deposit addresses and if they have to be in the "bcq1" form.

The Kraken deposit address probably starts with a "3".