Cryptocurrency Vs Nigerian Capital Market

Abaenyi, F. C.; Ehiemere, F. N.; Egbunike, A. P.; Umeano, N. C.

doi:10.70878/cjssh.2020.ef0177db

Cryptocurrency Vs Nigerian Capital Market

Authors: Abaenyi, F. C., Ehiemere, F. N., Egbunike, A. P., Umeano, N. C.

Journal: Contemporary Journal of Social Science and Humanities (CJSSH), ISSN 2766-757X

Citation: CJSSH 1(1), 2020-11-09.

DOI: 10.70878/cjssh.2020.ef0177db

Type: Original Research

Abstract

The use of cryptocurrency as a currency for trade has been a long-debated issue over the years and as such, many countries around the world have always tried to ban it. In some nations like Morocco and Bolivia, trading Bitcoins attracts a hefty fine or jail term. In Nigeria, Bitcoin’s legal status is largely ambiguous. However, there have been deliberations as to making bitcoin a legal tender in Nigeria. Furthermore, there has been a lot of debate concerning the Stock market and Crypto Market in terms of similarities and differences. Many argue that the crypto and stock markets vary in prospects and are vastly different in many aspects while some others argue otherwise. Therefore, this paper aims to explore the differences and prospects these markets have in the Nigerian financial structure.

Published by Academic Ink Review Journal. Open Access under CC BY 4.0.