John Mcafee launched a cryptocurrency Exchange platform, mcafeemagic.com, that was designed to work as a portal to numerous cryptocurrency exchanges at once. Hence, a user who doesn’t have access to a particular cryptocurrency can connect the API of another Exchange on the platform to seamlessly trade in all cryptocurrencies.
While one would argue on why to use a combined Exchange platform when it requires opening an account on every Exchange whose API we wish to connect, the platform offers added functionalities and added security for all types of traders professionals to the novice.
The ‘Magic’ is that traders have those advanced features even if they do not exist on many exchanges! – that’s McAfee Magic.
The advanced features that McAfee Magic would offer are Auto Buy, Auto Sell, Trailing Buy, Trailing Sell, Stop-Loss, Complete Auto Trade, etc. It also includes a Shadow portal functionality, which enables novice traders to copy the trades of notable professionals on multiple Exchanges.
The native cryptocurrency or fuel of the Exchange is Arbitrage (ARB). Arbitrage is an ERC-20 token that runs the arbitraging smart contracts which have designed Bots to generate profit from arbitraging between different Exchanges.
The Portal Faced a Launch Time Attack
The Exchange launch was soon affected by a DOS attack. John Mcafee gave regular updates of the attack supposedly originating from Texas. He tweeted,
McAfeeMagic.com got hit with a cloaked version of hoic. It was a DOS attack. My enemies must be losing sleep in their attempts to annoy me. However, I will track them down. I never fail:
Nevertheless, on early on 13 June 2019, he confirmed the launch and the fact that they have gotten rid of the attackers. He tweeted,
“WE ARE UP!!!!! The hackers are banished to the writhing mass of nothing from which they came. http://McAfeeMagic.com is up, live, and waiting for your caress. I believe the wait was worth it. Tidbits of the Magic listed below. Enjoy my friends, followers, and detractors.”
Mcafee, himself, vouch for the security, authenticity, and functionalities of the Exchange which according to him, “its the only second software to be worthy of the McAfee brand.”
Do you think that Mcafeemagic is better than the existing Exchanges? Please share your views with us.
Disclaimer The views, opinions, positions or strategies expressed by the authors and those providing comments are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of CoinGape. Do your market research before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.
Nivesh from Engineering Background is a full-time Crypto Analyst at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com