CRYPTO-CURRENCIES PRACTICES AND BUSINESS PERFORMANCE: Evidence from Online Shopping Firms in Nigeria
Sr No:
Page No:
23-30
Language:
English
Authors:
Emumena, Moses Oghenebrozie*, Clinton, Emmanuela Nneka PhD, Professor Odiri, V.I.O
Received:
2025-03-09
Accepted:
2025-03-23
Published Date:
2025-03-27
Abstract:
In this study, we investigated the extents to which crypto-currencies practices
influence business performance by focusing on online shopping firms in Nigeria. The study
used three (3) traded crypto-currencies – Bitcoin, Etherum and the United States Dollar Tether;
hence, the independent variable is crypto-currencies practices while the dependent variable is
business performance. A survey one hundred and thirty-three (133) crypto-exchangers who had
traded crypto-currencies like Bitcoin, Ethereum and the United States Dollar Tether were
sampled. The questionnaires administered were analyzed using descriptive, regression
diagnostic and inferential statistical techniques. The multiple regression results revealed among
others that there is significant relationship between crypto-currencies practices (Bitcoin,
Ethereum and the United States Dollar Tether)and the performance of online shopping firms.
Hence, performance of online shopping firms partly depends on crypto-currencies practices. In
view of the findings, the study recommends among others that the Nigerian government via the
Central Bank of Nigeria should regulate, control and encourage the practices of cryptocurrencies by using the global digital financing system software; this software would help
monitor crypto-currency practices and be able to attract more crypto –exchangers, which will in
turn contribute to increased economic activities and business performance in Nigeria.
Keywords:
Bitcoin; Litecoin; Etherum; Cyrpto-currencies; Business performance; USDT.