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RE: Pt. 1: How to Buy Bitcoin and other cryptocurrencies (Australia main)
Well the sheer nature of running an exchange means you'd have to have a sufficient float of each coin you service, and no doubt they would, or at least should adjust this float to cater for fluctuations in demand, and coin price movements, and yes they would profit largely from price arbitration between exchanges. They're essentially a retailer, not an exchange/marketplace.
Livingroomofsatoshi works in a similar way.