After months of extensive testing, John McAfee has finally released a crypto trading platform. The cross multiple exchanges trading platform will enable users to make snap crypto trades from a single interface.
The platform, dubbed Magic will enable both manual and automatic trades. An interesting feature is the non-custodial reserve of funds that any of eight exchanges will hold. Therefore, once a trader executes a trade , the system will automatically transfer funds from the exchange reserve to complete the trade.
McAfee Trading will have Multiple Exchanges
According to McAfee’s official website, users will have to integrate APIs of exchanges that the platform does not support. Present on the platform are eight exchanges namely; Binance, Kraken, Bittrex, HitBtc, Livecoin, Poloniex, Exmo and Huobi. Notably, two dashboard portals will be available for spot on trading and shadow trading respectively.
The Cyber Security Expert twitted that,
‘…shadow trading portal, in which a user’s trades will mimic those of pro-level traders whom the community has ranked by their trading success,
Additional features on the trading platform include a set and forget button. Noteworthy, this feature will enable users to set – buy and sell orders- simultaneously. Other features include auto trades and no jurisdictional restrictions on the usage of the platform.
In regards to the platform’s security, the site commented that they released the exchange after a thorough testing and auditing process.
Furthermore, the site goes on to further mention how they have hosted the platform on a DDOs protected Amazon Web Server. AWS servers have a high level of security and provide better opportunity for scaling.
The launch comes amidst speculation of a ‘McAfee Freedom coin’. The coin is a free market value digital asset that will not be pegged to any external entity or commodity.
While announcing the launch of the cryptocurrency, John McAfee they had developed a coin that will;
‘…. confront the problem of exchange head-on… It is not based on any commodity nor is it connected to the value or behavior of any external item or entity. The value of the coin will always be zero in relation to any other currency yet its natural market value is free, completely, to grow.”
However, on a side note the operation of the digital currency would in no way be related to the crypto trading platform. The site explained that they would be using an arbitraging ERC-20 token for the exchange.