Following the launch of his credit card, John McAfee announced his new trading platform McAfee Magic on June 11, 2019. The project allows manual and automatic cryptocurrency trading on various exchanges.
The Man behind the Magic
John Mcafee is likely one of the most controversial characters in the crypto community.
As discussed on BTCManager, the cybersecurity expert launched an “unhackable” cryptocurrency wallet that was easily compromised only a few months later. In the summer of 2018, the Securities and Exchange Commission (SEC) threatened legal action to his ongoing ICO promotions.
More recently, in April 2019, he declared that he wanted to reveal the true identity of Satoshi Nakamoto, the pseudonymous creator of Bitcoin. He ended up changing his mind within a week after claiming that such a move could damage his case against the United States from his current hide out in the Bahamas.
As of late, McAfee is now onto his next adventure. On June 11, the eccentric British-American cryptocurrency evangelist announced the launch of his cryptocurrency trading platform McAfee Magic.
Combining both automated and manual trading on eight different exchange platforms with more than 500 cryptocurrencies, McAfee aims to deliver an integrated trading experience while still maintaining a smooth, single interface.
One of the main innovations is the shadow trading feature which allows users to copy the moves of the most-experienced traders on the market. This will facilitate the entry of less-experienced users who will be able to make investment choices based on crowdsourced information.
The McAfee tweet also provides other information about platform features as “Trailing” for all eight exchanges, even if the feature is not enabled on a particular platform. A stop-loss option also exists for all trading pairs as well as placing buy and sell orders simultaneously.
In essence, McAfee Magic takes all the functions available on various exchanges and tries to integrate them in a single solution to improve the trader’s experience and make this branch of the market accessible and eventually profitable even to newcomers.
But, it’s not all roses.
The platform debuted on June 12, 2019, but after having faced some technical difficulties caused by a hacking attempt, the site shut down. After having moved the IP address to Texas, McAfee said he was able to track down the alleged Belize-based hackers.