- “Magic” has the capacity to “trade cryptocurrencies on multiple exchanges within a single dashboard.”
- The platform has the ability to make auto trades as well as manual.
The United States presidential hopeful and Bitcoin bull John McAfee new crypto trading platform has been launched. The platform is referred to as “Magic” and has the capacity to “trade cryptocurrencies on multiple exchanges within a single dashboard, automatically and manually.”
The exchange does not hold any the digital assets for its users as they the custody services are provided by the eight cryptocurrency exchanges currently accessible via “Magic.” When a user places an order, the funds are moved from the respective accounts to complete the transaction. Notably, the users need to complete the set up by plugging in APIs from their respective exchanges.
There are a couple of “portals” provided on the trading platform with the first one used for ordinary spot trading and the second one for what is known as “shadow trading,” which involves copying trades by pro-level traders who will be “ranked by the community by their trading success.”
The new exchange platform other features include the “set and forget” which allows buy and sell orders to be placed concurrently. The platform has the ability to make auto trades for the users as well. Significantly, there are not jurisdiction restrictions for using this platform. A section of the website says:
“We are only releasing this platform to the public after extensive testing and auditing processes that stretched months.”