The sad truth, I suspect, is that Coinbase simply makes a very fat profit on people who buy #Bitcoin’s.
Today I'm raising some concerns based upon observations of a withdrawal I recently made from Coinbase. I suspect the issues I'm pointing out apply to many exchanges and custodians across the ecosystem.
https://blog.lopp.net/problems-with-coinbase-withdrawal-fees/
Discussion
Of course they do. They're dealing with all the regulatory B.S., interfacing with ACH in a way that doesn't freak out banks, etc. If you want to be able to easily buy KYCed bitcoin from your checking account or wire transfer, they do a good job and they earn that profit.
I tried Swan recently to see if they were better and… goddamn, that's one janky service!