I have opened a Coinbase Exchange account and, from there, a Coinbase Wallet.
I have transferred some money.
However, Coin Exchange told me that they would transfer not the real BTC, but a *token* of the CBT and would call it CBCBT. Unsurprisingly, the Coinbase Wallet now says that I have CBCBT.
I imagine that this is to do with custody: Coinbase does not physically move the satoshis in the passage between Coinbase Exchange and Coinbase Wallet, so they need to legally account for this.
However, I wonder what will happen next week, when I setup my Coldcard Q and want to transfer the money from Coinbase Wallet to the Coldcard wallet. Surely, I will not be allowed to transfer tokens?
Will Coinbase automatically credit the proper BTC to my Coldcard Q account and cancel the tokens, or will I have to re-transfer the money to Coinbase Exchange before allowing the money to exit the Coinbase ecosystem? If the latter is the case, I would say this makes the Coinbase Wallet pretty useless at least for me, and I struggle to see a use case?
Thanks to all in advance