The well known cybersecurity expert and prominent crypto analyst John McAfee has recently unveiled his new cryptocurrency trading platform. McAfee’s crypto trading platform is dubbed ‘Magic’ and as the site describes it, it allows users to “trade cryptocurrencies on multiple exchanges within a single dashboard, automatically and manually.”
As many crypto currency news sites describe it, this crypto exchange appears to be non-custodial which is why it is a hot topic in the coming altcoin news. This, in other words, means that the users’ crypto holdings will remain on eight other exchange platforms. So, when a trade is executed, the funds will be transferred from those accounts in order to complete the transaction. In order to set this up, however, users will need to plug in APIs from their other exchanges.
As McAfee’s crypto trading platform shows, two “portals” are in the offering. One of them is reserved for normal spot trading while the other one focuses on “shadow trading” in which a user’s trades are set to mimic the ones of pro-level traders who are “ranked by the community by their trading success” as McAfee indicated in a tweeted image.
Among the other features shown in the latest cryptocurrency news, McAfee’s crypto trading platform will include the “set and forget” ability to set buy and sell orders at the same time. This means that users can also use the platform to make auto trades on their behalf. Right now, there are no jurisdictional restrictions on who can use the exchange.
When it comes to the security on offer, McAfee’s crypto trading platform Magic and its FAQs (Frequently Asked Questions) note that the site is hosted on “top grade” Amazon Web Service servers which offer DDoS protection and can “scale on demand.”
“We are only releasing this platform to the public after extensive testing and auditing processes that stretched months,” the site reads.
This is interesting because of the fact that McAfee’s crypto trading platform Magic has faced a DDoS attack even before it was launched. In a pre-launch tweet, John McAfee said:
“ still under attack. New I.P. address in Texas. The more this goes on, the closer we get. Amazon AWS servers are “learning” the attack and will be up shortly. Catch up on work, make out with your partner or “flash” a random stranger and video while you wait.”
Ten days ago, McAfee was in the coming altcoin news for announcing that he would launch a cryptocurrency dubbed the “McAfee Freedom Coin” set to be released this fall.
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