John McAfee's New Crypto Trading Platform 'Magic' Goes Live

gepubliceerd op by Coindesk | gepubliceerd op

Noted cybersecurity expert and eccentric crypto fan John McAfee has just launched a cryptocurrency trading platform.

Dubbed "Magic," the site is touted as allowing users to "Trade cryptocurrencies on multiple exchanges within a single dashboard, automatically and manually."

Notably, the exchange appears to be non-custodial, with users' crypto holdings remaining on eight other exchange platforms.

When a trade is executed, funds are transferred from those accounts to compete the transaction.

Two "Portals" are on offer, one for normal spot trading, the other for "Shadow trading," in which a user's trades will be set to mimic those of pro-level traders who are "Ranked by the community by their trading success," McAfee indicated in a tweeted image.

Users can also use the platform to make auto trades on their behalf.

Magic seems to have faced a DDoS attack even before launch.

Just 10 days ago, McAfee also announced he would launch a cryptocurrency dubbed the "McAfee Freedom Coin" this autumn.

"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."

The token does not seem to be linked to the operation of new exchange, at least not yet.