Title: Cryptocurrency And Financial Inclusion: Bridging The Conceptual Gap In Nigeria
Authors: Kabiru Adamu Salihi
Volume: 9
Issue: 12
Pages: 367-372
Publication Date: 2025/12/28
Abstract:
The main purpose of this research is to determine the functions of cryptocurrencies as a transactions medium in developing country such as Nigeria. Also, the research aimed at examining the extent to which the adoption of cryptocurrency has disrupted traditional financial systems, as well as investigating the potential benefits and challenges of using cryptocurrency for emerging market such as Nigeria. Data was collected through documentary literature. Thus, the methodology used in study is purely content analysis, through secondary data by reviewing relevant journal articles and other contributions posted on the internet. The study concludes that, cryptocurrency offers benefits such as reduced transaction costs, faster settlement times, and increased transparency in transactions. However, there are also challenges such as regulatory and legal hurdles, security concerns, and limited understanding of cryptocurrency. The study also will highlight the factors that influence the adoption of cryptocurrency in international trade, including regulatory and legal frameworks, security concerns, awareness and understanding of cryptocurrency, transaction costs, and integration with existing systems. The study recommends that government need to address the cryptocurrency challenges in terms of regulation, security, and market stability, thereby harness the potential opportunities of cryptocurrency and financial inclusion.