Moving BTC from Hardware Wallet to Exchange

Hey guys, I've got a question. When I see "This wallet address only accepts tokens transferred by Bitcoin (BTC) network," does that mean if I send BTC from my BitBox, it’s via the BTC network? How do I even check which network it is? Sorry if this is a dumb question, I’m new to this.

You're good man, sending BTC from BitBox goes through the Bitcoin network, no worries there. But that exchange you mentioned? Never heard of it. Got any experience with it? I’d recommend looking into other options for safety.

Wait, tokens? Bitcoin is a coin, not a token. You can’t send other coins through the Bitcoin network. Each coin has its own network. When you transfer BTC from your wallet, it definitely uses the Bitcoin network for the transaction.

OmegaStarScream makes a point. It’s odd they call it a token.

Thanks for the reply! Are you talking about swissmoney? English isn’t my first language, sorry. I haven’t used it before.

Those reviews got me thinking again. Maybe I should look for a different exchange.

Where are you based? We might suggest some better platforms. Also, how did you end up on that site? Did someone recommend it or was it just an ad?

I’m from Germany. I checked out a bunch of sites and watched videos. Most seemed to say swissmoney is safe.

I don’t know that exchange. Maybe this German thread can help.

Germany allows Kraken, which is pretty secure. If your funds are in a hardware wallet, don’t send all to Kraken or Bitstamp at once. Both are decent choices. If you’ve got, say, 2 BTC, don’t send more than 0.1 BTC at first.

I’m Dutch, Kraken works great for me. Germany is close enough, so I think it’s legit.

Exchanges or custodial wallets that accept tokenized BTC often use that confusing wording. Some even treat SegWit as a different network, lol. But if that note says "Bitcoin (BTC) network," it means the main chain. If you can share a screenshot of the available networks, we can help more.

Thanks for all the replies! So is this just a warning not to accidentally send BTC to an Ethereum wallet or something? I’m thinking of using Kraken now. If I want to deposit BTC and see two options: "bitcoin" and "lightning," I should probably go with the "bitcoin" one, right? Not sure about the deposit addresses though, should they be in "bcq1" format? I just don’t want to lose my BTC.

You can’t. If you send BTC to a Forkcoin address, it’ll be tough to recover your funds if you mess up on the chain. You’re good with on-chain Bitcoin. Kraken deposit addresses usually start with a "3."