Noted cybersecurity specialist and eccentric crypto admirer John McAfee has just launched a cryptocurrency trading platform.
Dubbed “Magic,” the web page is touted as allowing for people to “trade cryptocurrencies on multiple exchanges within a single dashboard, quickly and manually.”
Notably, the exchange seems to be non-custodial, with people crypto holdings remaining on eight other exchange platforms. When a trade is executed, funds are transferred from those people accounts to contend the transaction. To set this up, people will want to plug in APIs from their other exchanges.
Two “portals” are on offer you, a single for usual location trading, the other for “shadow trading,” in which a user’s trades will be set to mimic those people of pro-level traders who are “ranked by the neighborhood by their trading accomplishment,” McAfee indicated in a tweeted image.
Other attributes contain the “set and forget” capability to set acquire and sell orders at the very same time. Customers can also use the platform to make car trades on their behalf. There are no jurisdictional constraints on who can use the exchange.
With regards to the protection on offer you, the Magic’s FAQs say that the web page is hosted on “top grade” Amazon Web Provider servers that appear with DDoS defense and can “scale on need.”
The web page also reads: “We are only releasing this platform to the public after substantial screening and auditing processes that stretched months.”
Magic would seem to have faced a DDoS assault even right before launch. In a pre-launch tweet, McAfee quipped:
“McAfeeMagic.com nevertheless less than assault. New I.P. handle in Texas. The more this goes on, the closer we get. Amazon AWS servers are “learning” the assault and will be up soon. Capture up on function, make out with your spouse or “flash” a random stranger and online video even though you wait around.”
It must be mentioned, we do not endorse taking his tips.
Just 10 days ago, McAfee also announced he would launch a cryptocurrency dubbed the “McAfee Flexibility Coin” this autumn.
Rather confusingly, he claimed at the time:
“The McAfee Flexibility Coin is intended to confront the issue of exchange head-on… It is not based on any commodity nor is it connected to the price or behavior of any external product or entity. The price of the coin will always be zero in relation to any other forex yet it is pure market place price is totally free, wholly, to expand.”
However, the token does not appear to be linked to the operation of new exchange, at least not yet. The Magic web page suggests it will use the gasoline (ARB) ERC-20 token from a venture named Arbitraging.
John McAfee image via Gage Skidmore (Artistic Commons)