Coinbase Wallet - Sell $20K USDC base to USDC polygon, never received?
Hi guys, I am lost as to what's going on.
- I have the latest version of the coinbase wallet app (not coinbase app, the self custody wallet app)
- I used their trade function to sell (basically a swap). $20,000 USDC on the base network to $19,999 USDC on the polygon network. Everything is verified beforehand those are the right coins etc..
- I click sell then confirm, $20k was removed from my USDC base, in the transaction it says "Brighted out" from network Base to network polygon, Status = Complete.
But I never received the ~$20k in USDC polygon? It's been 15 mins and still nothing. On the block explorer everything seem to say success/complete. Anyone know what's going on?
EDIT: I just did another experiment, exact same steps but tested with $2, and received $2 in USDC polygon almost instantly, but the $20k USDC polygon from previous transaction is still nowhere to be found?
EDIT2: I received the 20K in USDC polygon, for anyone else panicking in the future this is the conclusion:
For small amounts <$1000, when you swap from USDC base to USDC polygon (and I assume any other network USDC), the transfer is near instant.
For large amounts, in my case >$5000, the sold USDC will be taken from your account immediately, but the receive USDC will NOT be sent to you until 20-40 minutes later. This is not a one time issue, I actually went back to my old transactions from 6+ months ago, looking for the same "bridge out" trades, and sure enough every single one of them >$5000 are a delay of 20-30 minutes. I just didn't pay too much attention and by the time I checked later everything was ok.
Utter shit design like most things with this wallet, but now you know. So don't panic just wait.