Crypto exchange business is unarguably the most lucrative sector in the cryptocurrency industry with major exchanges such as Binance reporting annual revenue worth over $400 million.
With at least 250 companies in the digital currency exchange business today, popular cybersecurity expert and crypto fan John McAfee has joined the list with the launch of a trading platform.
The new exchange dubbed “Mcafee Magic” will reportedly provide traders with sever trading functionalities to enable users to trade multiple cryptocurrencies either manually or automatically across different exchanges via its unique interface at a time.
According to information on the site, the trading platform features two different portals – shadow trading and magic trading.
The shadow trading allows users to simultaneously shadow those of the pro-level, “ranked by the community by their trading success” while the magic trading offers traders several advance trading features such as Auto Sell, Auto Buy, Trailing Sell, Trailing Buy, Complete Auto Trade, Stop Loss, etc.
Mcafee Magic exchange seems not to have full control of users funds as every crypto holding stays on eight other exchange platforms, and are transferred from those accounts at each successful trading. However, this feature requires users to initiate plugin APIs from their exchanges.
Interestingly, users are entitled to conduct snap trade on the platform, even with their pre-set automated trades making “100’s of trades” for them on different exchanges, while doing so.
Other features include the “set and forget,” which allows users to set buy and sell orders at the same time. Traders can also use the Mcafee Magic trading platform to make auto trades on their behalf. There are no jurisdictional restrictions on who can use the exchange.
In the matter of security, the platform assured through FAQs that the site (Mcafeemagic.com) is hosted on “top grade” Amazon Web Service servers, which goes with DDoS protection and can “scale on demand.”
“We are only releasing this platform to the public after extensive testing and auditing processes that stretched months,” the site reads.
