Dubbed “Magic,” the site is touted as allowing users to “trade cryptocurrencies on multiple exchanges within a single dashboard, automatically and manually.” Notably, the exchange appears to be non-custodial, with users crypto holdings remaining on eight other exchange platforms.
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Two “portals” are on offer, one for normal spot trading, the other for “shadow trading,” in which a user’s trades will be set to mimic those of pro-level traders who are “ranked by the community by their trading success,” McAfee indicated in a tweeted image. Somewhat confusingly, he said at the time:
“The McAfee Freedom Coin is designed to confront the problem of exchange head-on… It is not based on any commodity nor is it connected to the value or behavior of any external item or entity.