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.
Gold-Backed Russian Crypto Could Crush The USD Standard
“As for mutual settlements, we will consider, of course, a proposal on a cryptocurrency that is tied to gold. But, in my opinion, it is more important to develop settlements in national currencies.”Nabuilna explained that CBR is still unsure whether to use cryptocurrencies and how they could be launch into Russia’s monetary system but the idea of a zero-volatility digital asset is inviting:
“The CBR, in principle, is opposed to cryptocurrencies being launched into our monetary system. We do not see the possibility that cryptocurrencies fulfill the function of monetary surrogates. We have prepared an analytical report and will soon present it which will analyze what cryptocurrency is, what is happening in the world, what approaches different countries to have, and what regulation is envisaged. And, if the phenomenon of cryptocurrency in any perspective may cause risks to our macroeconomic stability, we need to understand that.”As noted in one of the best cryptocurrency sites, Russia is under significant economic sanction from the United States.
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Hottest Cryptocurrency Is Up 330% This Year (And It’s Not Bitcoin)
“Every time we’ve seen a halving event in Bitcoin or Litecoin, the price has risen astronomically,” is what Mati Greenspan believes, who is a senior market analyst at the trading platform eToro. “So if that pattern continues, what we’ve seen so far is small potatoes in comparison,” he said. “This is quite normal for the crypto market.”Right now, cryptocurrencies are undergoing a major renaissance. While Litecoin is reported as the hottest cryptocurrency this year by many best cryptocurrency news sites, Bitcoin is also triggering a new rally and Facebook with its expected crypto project is additionally fueling up the space. All of the developments happening this year have managed to push the price of Bitcoin by 120% since the beginning of the year - and the price of Ether close to 100% this year. Litecoin remains the hottest cryptocurrency - going from $30 at the end of last year to $130 right now.
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