EC Nursing and Healthcare

This study specifically looked at how much the Covid-19 epidemic affected Nigerian youth and if it had a positive or negative impact. The pandemic had an effect on young people in Nigeria's cryptocurrency sales. For this study, young people from Ibadan were engaged as participants. Using the convenience sampling technique, the researcher selected easily 220 individuals for the study using the survey's descriptive design. The respondent was given a self-structure questionnaire, of which two hundred (213) were collected. Tables were frequently used to analyse and show data. The study's conclusions showed that the effect of the epidemic (the Covid-19 outbreak) on Nigerian adolescents' cryptocurrency trading was favourable because it facilitated online trading and purchases, increased their savings in liquid currencies, provided a fantastic investment opportunity, and facilitated international transactions because banks were shut down. The study suggests that, especially for emerging countries like Nigeria, the costs of disregarding the utility of cryptocurrencies outweigh the perceived dangers of not legalising them in the future. In order to enable the use of cryptocurrencies and legislates their use, Nigeria must either update its regulatory framework. This update must specify the terms and conditions with respect to privacy law in the interest of countries and citizens, insurance of crypto-assets in the interest of investors, and necessary disclosure of transaction details. Youths in Nigeria could use this innovation as an alternative to their over-reliance on government jobs.

Keywords: COVID-19; Cryptocurrency; Nigerian Youths; Online Transactions

1. Caferra R and Vidal-Tomás D. “Who raised from the abyss? A comparison between cryptocurrency and stock market dynamics during the COVID-19 pandemic”. Finance Research Letters 43 (2021): 101-114.
2. , et al. “The contagion effects of the COVID-19 pandemic: Evidence from gold and cryptocurrencies”. Finance Research Letters 35 (2020): 101554.
3. Goodell JW and Goutte S. “Co-movement of COVID-19 and Bitcoin: Evidence from wavelet coherence analysis”. Finance Research Letters 38 (2021): 101625.
4. Onapajo H and Adebiyi J. COVID-19 is a Big Scam’ Citizens’ Distrust and the Challenge of Combating Coronavirus in Nigeria (2020).
5. Shahzad SJH., et al. “Regime specific spillover across cryptocurrencies and the role of COVID-19”. Financial Innovation5 (2021): 72-79.
6. Tellier H. “Bringing listeners on-air, keeping staff out of harm’s way: How Radio Salaki is responding to COVID-19” (2020).
7. Vidal-Tomás D. “Transitions in the cryptocurrency market during the COVID-19 pandemic: A network analysis”. Finance Research Letters 43 (2021): 101981.
8. Omole OR., et al. “Assessment of the causes and effects of induced abortion among women of reproductive age”. EC Nursing and Healthcare4 (2023): 103-115.
9. Omole OR., et al. “Awareness and perception on exclusive breastfeeding as a birth control method among pregnant women attending antenatal clinic in rural communities”. Merit Journal of Research in Medicine and Medical Sciences2 (2023): 059-067.
10. Akhtaruzzaman M., et al. “Systemic risk-sharing framework of cryptocurrencies in the COVID–19 crisis”. Finance Research Letters 47 (2022): 102787.
11. Akanni LO and Gabriel SC. “The implication of COVID-19 pandemic on the Nigerian economy: he global health hazards and economic impacts of COVID-19”. Centre for the study of the Economies of Africa8(2020): 167-172.
12. Hong MY and Yoon JW. “The impact of COVID-19 on cryptocurrency markets: A network analysis based on mutual information”. PLoS ONE2 (2022): e0259869.
13. Drozdz S., et al. “Complexity in economic and social systems: Cryptocurrency market at around COVID-19”. Entropy 22 (2020): 1043.
14. Nie CX. “Analysis of critical events in the correlation dynamics of cryptocurrency market”. Physica A: Statistical Mechanics and its Applications Journal6 (2022): 126462.
15. Vidal-Tomás D. “Transitions in the cryptocurrency market during the COVID-19 pandemic: A network analysis”. Finance Research Letters2 (2021): 367-374.
16. Assaf A., et al. “Multivariate long memory structure in the cryptocurrency market: The impact of COVID-19”. International Review of Financial Analysis1 (2022): 102132.