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.
View quoted note →
Login to reply
Replies (4)
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.
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.
you left Swan because you were paying too little ?
I left swan because I talked to multiple people who swan was losing money on. At some point that breaks and breaks means somebody paid for sats they didn't receive. I want to receive the sats I pay for.