John McAfee’s ambitious new project “Magic” goes live
One of the most ardent supporters of cryptocurrencies, noted cybersecurity expert and chief crypto proponent John McAfee has just launched a trading platform dubbed “Magic,” according to a CoinDesk report. Touted by many as something different, the site will give users the freedom to “trade cryptocurrencies on multiple exchanges within a single dashboard, automatically and manually.”
It is notable that the platform is non-custodial in nature, with users’ crypto holdings remaining in eight other cryptocurrency exchanges. When a trade will be executed funds are transferred from those accounts to complete the transaction.
According to McAfee, two portals are on offer–one for normal spot trading and the other for shadow trading. McAfee Magic provides traders with a standard set of advanced trading features, such as Auto Buy, Auto Sell, Trailing Buy, Trailing Sell, Stop-Loss, Complete Auto Trade etc. Other prominent features of the platform include the “set and forget” ability to set buy and sell orders at the same time.
McAfee Magic is powered by an ERC20 token called Arbitrage (ARB) and the website’s FAQ says the site is operational in all jurisdictions.
According to the information on the website, McAfee Magic allows traders to “consolidate the world of cryptocurrency into a single powerful toolbar”. At the same time, the platform can provide standard trading tools for all exchanges.
The site also reads: “We are only releasing this platform to the public after extensive testing and auditing processes that stretched months.”
Speaking on Monday, McAfee said, “Sorry to be late with my magnum opus trading platform. But I did not anticipate having to mud wrestle the Bahamian Police Commissioner along with dodging assassins this week — but better late than never — here it is.”
He also added that he would be coming up with crypto debit cards next week.
Recently, the eccentric McAfee had also made the announcement that he would be coming up with a cryptocurrency dubbed “McAfee Freedom Coin” this autumn.