Replying to Avatar Bill Cypher

If you currently do business with swan, look at what you pay in fees and spread to buy then look what they paid in fees to give you those sats on chain. Do the math yourself, I bet you find they are losing money on you as a customer.

I find it unlikely that everyone else is somehow paying 10x the fees I am or costing 1/10th in on chain fees. Once I saw that I moved my DCA somewhere else.

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Guy Swann 2y ago

I highly suspect they use the small buyers as a loss leader for getting a big customer base and it's funded by the people buying in the 4 to 6 figures.

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Bill Cypher 2y ago

I think it is that they need a large % of customers to allow them to custody and never withdraw. Even million sat UTXOs aren't profitable at current fees unless my math is terrible.