Well-known cybersecurity educated and eccentric crypto fan John McAfee has merely launched a cryptocurrency shopping for and promoting platform.
Dubbed “Magic,” the site is touted as allowing prospects to “trade cryptocurrencies on multiple exchanges within a single dashboard, automatically and manually.”
Notably, the commerce appears to be non-custodial, with prospects’ crypto holdings remaining on eight completely different commerce platforms. When a commerce is executed, funds are transferred from these accounts to compete the transaction. To set this up, prospects may wish to plug in APIs from their completely different exchanges.
Two “portals” are on present, one for normal spot shopping for and promoting, the alternative for “shadow trading,” via which a client’s trades shall be set to mimic these of pro-level retailers who’re “ranked by the community by their trading success,” McAfee indicated in a tweeted image.
Totally different choices embody the “set and forget” capability to set buy and promote orders on the an identical time. Prospects might use the platform to make auto trades on their behalf. There usually are not any jurisdictional restrictions on who can use the commerce.
Referring to the security on present, the Magic’s FAQs say that the positioning is hosted on “top grade” Amazon Web Service servers that embrace DDoS security and may “scale on demand.”
The placement moreover reads: “We are only releasing this platform to the public after extensive testing and auditing processes that stretched months.”
Magic seems to have confronted a DDoS assault even sooner than launch. In a pre-launch tweet, McAfee quipped:
“McAfeeMagic.com nonetheless beneath assault. New I.P. sort out in Texas. The additional this goes on, the nearer we get. Amazon AWS servers are “finding out” the assault and shall be up shortly. Compensate for work, make out collectively together with your affiliate or “flash” a random stranger and video while you wait.”
It should be well-known, we don’t advocate taking his advice.
Merely 10 days prior to now, McAfee moreover announced he would launch a cryptocurrency dubbed the “McAfee Freedom Coin” this autumn.
Significantly confusingly, he said on the time:
“The McAfee Freedom Coin is designed to 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 it’s natural market value is free, completely, to grow.”
Nonetheless, the token would not look like linked to the operation of newest commerce, not lower than not however. The Magic website online says it will use the gasoline (ARB) ERC-20 token from a mission known as Arbitraging.
John McAfee image via Gage Skidmore (Creative Commons)