John McAfee Unveils Magic Crypto Trading Platform; Promises Your Keys Your Crypto
Just days after announcing his upcoming Freedom digital asset, John McAfee made another bid with a cryptocurrency trading platform.
John McAfee has shared a link to his new trading platform, McAfee Magic. The platform, with a still non-functioning login, looks like an email grabbing operation but promises a lot, including anonymous stealth mode trading and after some initial login issues, appears to be working normally.
The platform was announced in a tweet, amid the current social media tale of McAfee running from the US authorities.
“The ‘Magic’ is that novice traders are not required to fund ‘trader’ accounts. Novices retain control over access to their funds at exchanges. (‘Your keys’ your ‘crypto’) - that’s McAfee Magic,” the platform’s message reveals.
McAfee does not offer a trading engine, but just an access point to eight exchanges, relying on bot orders. Thus, the platform is a decentralized brokerage service, mimicking various types of orders, but is expected to be one part of an entire ecosystem (McAfee hinted at debit cards coming next).
In the past, McAfee has launched other products to great fanfare, such as the Bitfi wallet. But skeptics view the wallet as merely a gimmick, in effect requiring a “brain wallet” to function. The trifecta of a wallet, coin, and exchange service by McAfee are yet to be tested for viability and influence. The Freedom token has not launched yet, and when it does, it will not go on exchanges but will be used as a payment method.
The McAfee Magic exchange has also partnered with Arbitrage (ARB), an ERC-20 token, and the site's footer says it is powered by ARB.
The portal does not exclude traders from any region - a move that follows McAfee’s protests that Binance was restricting traders from certain countries, including the USA.