John McAfee’s New Crypto Trading Platform ‘Magic’ Goes Live | ELEVENEWS
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John McAfee’s New Crypto Trading Platform ‘Magic’ Goes Live

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Noted cybersecurity expert and eccentric crypto fan John McAfee has just launched a cryptocurrency trading platform.

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. When a trade is executed, funds are transferred from those accounts to compete the transaction. To set this up, users will need to plug in APIs from their other exchanges.

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.

Other features include the “set and forget” ability to set buy and sell orders at the same time. Users can also use the platform to make auto trades on their behalf. There are no jurisdictional restrictions on who can use the exchange.

Regarding the security on offer, the Magic’s FAQs say that the site is hosted on “top grade” Amazon Web Service servers that come with DDoS protection and can “scale on demand.”

The site also reads: “We are only releasing this platform to the public after extensive testing and auditing processes that stretched months.”

Magic seems to have faced a DDoS attack even before launch. In a pre-launch tweet, McAfee quipped:

“McAfeeMagic.com still under attack. New I.P. address in Texas. The more this goes on, the closer we get. Amazon AWS servers are “learning” the attack and will be up shortly. Catch up on work, make out with your partner or “flash” a random stranger and video while you wait.”

It should be noted, we don’t recommend taking his advice.

Just 10 days ago, McAfee also announced he would launch a cryptocurrency dubbed the “McAfee Freedom Coin” this autumn.

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. The value of the coin will always be zero in relation to any other currency yet it’s natural market value is free, completely, to grow.”

However, the token does not seem to be linked to the operation of new exchange, at least not yet. The Magic site says it will use the fuel (ARB) ERC-20 token from a project called Arbitraging.

source:coindesk.

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Opera’s Browser With Built-In Crypto Wallet Launches for iPhones

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Users of Android phones and desktop computers have had the option to use Opera’s blockchain-friendly browser for months now, but iPhone owners have been left out of the fun.

That’s now changed with the launch of the latest version of Opera Touch for iOS.

As per a blog post from the firm, the new browser option is largely identical to the above-mentioned offerings, providing a built-in cryptocurrency wallet and the ability to run Web 3.0 and decentralized apps (dapps) without a third-party plugin.

Opera says:

“We believe that the Web of today will be the interface to the decentralized web of tomorrow (Web 3). With built-in Crypto Wallet, the browser has the potential to renew and extend its important role as a tool to access information, make transactions online and manage users’ online identities in a way that gives them more control.”

The wallet currently allows users to hold, transact and make payments in ethereum and all ERC-20 standard tokens and stablecoins, as well as collectibles such as CryptoKitties via the ERC-721 standard.

The Opera website says the wallet can automatically detect and list any ERC-20 tokens used in ethereum dapps, such as in-game currencies.

Dapps can be accessed by typing their address directly in the browser, avoiding the need to use third-party extensions

In order to start using dapps, users will need to purchase ethereum (ETH) and store it in the Opera wallet. Once there, a selection of dapps will be listed in the store in the app, the post says.

source:.coindesk.

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JPMorgan to Start Customer Trials of Its ‘JPM Coin’ Crypto

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JPMorgan Chase is to start trials of its “JPM Coin” cryptocurrency in conjunction with corporate clients.

According to a report from Bloomberg Japan on Tuesday, Umar Farooq, the investment bank’s head of digital treasury services and blockchain, said that customers would trial the technology with the ultimate aim of speeding up transactions, such as payments between firms and bond transactions.

The trials are being conducted on the assumption regulatory permission will ultimately be granted, according to Bloomberg.

First revealed in February, JPM Coin initially runs on top of Quorum, a private version of ethereum developed by the bank.

JPM Coin will function as a stablecoin, with fiat cash being deposited at the bank in exchange for the token, which can then be transferred via a permissioned distributed ledger. The recipient can later redeem the token for cash from JPMorgan.

Initially linked to the U.S. dollar, the coin is expected to be extended to other fiat currencies in time. Real-world trials were expected in “a few months,” according to a report at the time.

Discussing JPM Coin’s state of development, Farooq told Bloomberg in today’s report: “The technology is very good, but it takes time in terms of licensing and approval. It must be explained.”

As well as inter-firm remittances, he said that the cryptocurrency could be used to settle bonds and commodities transactions. Clients in regions including Europe, the US and Japan have already shown interest, according to Farooq. He would not name any companies involved in the upcoming trials, the report states.

source:.coindesk.

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Russia May Allow Crypto Trading in Upcoming Legislation: Official

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As Russia’s cryptocurrency bill slowly inches forward, a government official has hinted at what may lie ahead when the legislation is finally passed.

According to a report from local news source Interfax.ru, Deputy Finance Minister Alexei Moiseyev told journalists on Friday that among the options currently being discussed is to allow the buying and selling of cryptocurrencies. Crypto payments are not on the table, however.

Worryingly for the country’s crypto community, the bill could still see cryptocurrency use banned outright.

Moiseyev said that the finance ministry had met with the Russian central bank and the Federal Security Service, the nation’s security agency, to discuss the bill.

“There is a range [of possibilities] from prohibition to the possibility of purchase,” he explained. “Like with foreign currency, it would be possible to buy and sell [cryptocurrencies], but impossible to use them for payments. After a political decision is made on this issue, we will have the responsibility.”

Russia’s bill on digital financial assets was expected to be considered at the plenary session of the State Duma on March 19, but was postponed.

According to the report, Anatoly Aksakov, head of the Duma Financial Market Committee, has said that Russia must adopt a bill on cryptocurrency before the end of this year in order to comply with recommendations from international watchdog, the Financial Action Task Force (FATF).

In related news, FATF announced new standards on Friday that include a controversial requirement that “virtual asset service providers,” including crypto exchanges, pass information about their customers to one another when transferring funds between firms. Its 37 member nations are not obliged to apply its guidance, but non complying countries can be blacklisted, which would be harmful financially.

source:.coindesk

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