“Magic”, a digital currency trading platform launched by John McAfee

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Renowned cybersecurity expert and crypto enthusiast John McAfee launched his own digital currency trading platform called “Magic” on the 12thand June 2019. John made the official announcement via his Twitter account.

McAfee Magic, considered a revolutionary digital currency trading platform, allows users to trade their cryptos on multiple exchanges simultaneously through a single interface. In fact, the platform facilitates trading over 500 cryptocurrencies, both manually and automatically.

Magic can be considered a non-custodial trading platform, as users’ digital currency holdings remain on the 8 exchanges that Magic has links with. Thus, whenever a user initiates a trade, funds are withdrawn from accounts the user has on other exchanges in order to complete that trade transaction. All a user needs to do is plug in the APIs of other crypto exchanges to set up the feature.

What it offers:

The McAfee Magic platform operated by ARB, an ERC-20 token, offers two portals: “spot trading” and “shadow trading”. While the former allows users to make normal spot trades with advanced trading features, the latter allows them to imitate the trades of professional traders who hold community rankings based on their trading success on a variety trading and trading pairs.

Apart from this, Magic offers a feature called “set and forget” which allows users to sell and buy orders simultaneously. Additionally, users can also take advantage of the platform’s auto-trade feature where trading robots can perform hundreds of trades on behalf of the user 24/7. On top of that, converting fiat to your favorite cryptocurrency at an OTC desk will also be available soon, reports say.

Additionally, merchants are not required to fund merchant accounts. Control and access to funds on the various crypto exchanges is completely up to the traders themselves.

Security:

As stated on Magic’s official website, the platform is hosted on Amazon’s premier AWS servers, which are highly scalable and offer maximum security.

However, it should be noted that McAfee Magic suffered a hack even before its official launch. The update on the attack was shared via Twitter by the founder himself.

Meanwhile, McAfee also made an announcement about ten days ago about the launch of its own digital currency, called McAfee Freedom Coin. The crypto will have an increasing natural value in the market, but its value in terms of any currency will also be 0, says McAfee. The coin is expected to launch this fall. If that’s not all, McAfee also recently announced that the launch of the crypto-based debit card service will follow next week.

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