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I just recently started using Coinbase Wallet (which I will from now on refer to as just Wallet) and connected it to Uniswap to be able to buy some Celsius. I have some various coins on Coinbase (not Wallet), so I sent ~60 USD worth of ETH to my Wallet. Then I went to convert it to Celsius, and it says mining fees are high and my 60 USD worth of ETH won't even cover the mining fees to convert 1 USD of ETH to Celsius...

However, back on Coinbase, I can buy, sell or convert ETH into almost any other crypto for very low fees (I think the fee to buy/sell is ~1 USD, conversion seems free?).

Why is this? Are there no blockchain transactions involved when buying/selling/converting on Coinbase?

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Maybe it is because in Coinbase's web interface when an exchange executes, in reality, there is no interaction at all with related blockchains. the onsite exchange is just happening on Coinbase's database, while withdrawals are the ones that are really being processed on the related blockchain.

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