Cryptocurrency is the new digital monetary mechanism that has a lot of risk in its transactions.The lack of regulation, combined with their technical complexity, makes them an attractive target for scammers who would seek to prey on the misinformed. We tackle this problem by making an Illegitimate Crypto Detection System. To summarise ,we have developed this application that helps the user to verify the legitimacy of the cryptocurrency which he poses or wants to purchase and ensures safety from fraud and threats.
For User interfaces part we would have a Login Screen that will house one Login option with two fields namely Username and Password.We also have Application Interface Screen to analyse the existing cryptos and we have added created gateway options to invest in such cryptos.Lastly we have a profile screen with the details such as PAN NO> and secured and saved card details, phone numbers and email id of the user.
For database part we have used PostgreSQL DBs in production with hundreds of millions of rows with minimal resources.
Finally for the payment system user will be able to transfer funds from their selected and verified bank accounts only to the application and then use a verification password to invest the amount of money in cryptocurrencies and ICO’s of cryptocurrencies.
The Web Version is compatible with Windows(32-64 bit), IOS operating system.
The mobile application will be compatible with android with version Android 4.2 and further versions.
User age should be above 18, with a bank account of his/her own.
valid aadhar/pan card
The application will necessarily require an active Internet connection for its efficient functioning as the application fetches data from the database over the Internet and also so that it allows problem free payments.
As username and password is required to use the application it is mandatory to open an account for user and host verification.
Cryptocurrency is the new digital monetary mechanism that has a lot of risk in its transactions.The lack of regulation, combined with their technical complexity, makes them an attractive target for scammers who would seek to prey on the misinformed.We tackle this problem by making an Illegitimate Crypto Detection System.
The model will be able to predict whether crypto is legitimate or not before investing in it, along with which it will also generate an analytics report which will list down the past crypto price value in different currencies like Rupees, Dollar, Euros, etc.
The model will also reflect the fluctuations in the price value of specific crypto over past years with a graphical representation and analysis.
The parameters for graphical display include the crypto price value over different spans of time and a marginal range of price where the investment will benefit the user.
The analytics report will also unveil the latest trends in cryptocurrency highlighting the better crypto for investment, which will help the user to frame the investment strategies accordingly.
The model will use Logistic Regression to classify whether a cryptocurrency is legitimate or not.
The application will also display the history of a cryptocurrency since its launch in the market along with the information of the developer.
1.To increase crypto literacy in our community.
2.Our goal is to develop an application that helps the user to verify the legitimacy of the cryptocurrency which he poses or wants to purchase and ensures safety from fraud and scam threats. It will also lead to the ultimate cause of increasing crypto literacy in our community.
3.To build up a secure and efficient system with a motive to minimize frauds while investing in cryptocurrency.
4.It will prevent the investors from getting entrapped in any crypto investment frauds or any ICO scams.
5.This system will sustain the information of various cryptocurrencies worldwide and the organisation or a person behind the development of any crypto.
6.This system will be able to analyze the legalization of any cryptocurrency so as to liberate the users regarding their investment strategies and prevent them from investing in any illegitimate cryptocurrency.
