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ABSTRACT
The overview of the study was to examine the effect of ease of making payment, financial literacy and the level of crime on cryptocurrency in Nigeria; case study of Benin city. The study utilized various statistical tools in analyzing data obtained through the administration of 100 structured questionnaires. Specifically, the study employed the Least Squares method for its estimation. The result of the regression obtained showed that ease of making payment has a positive and significant relationship with use of cryptocurrency given the t statistic value was 3.5which was observed to be statistically significant. In evaluating the relationship between crime rate and cryptocurrency; the study established that crime rate had a negative but significant relationship with cryptocurrency operations. Further, the estimated tvalue for FINL at the pvalue of 0.05 as observed did not pass the ttest in absolute value. Thus, financial literacy was found to have a positive but statistically non significant relationship with cryptocurrency operations. The study recommends that relevant agencies of government ought to be proactive regarding cryptocurrencies by building necessary regulatory and monetary architectures or apparatuses around the new financial technology so that Nigeria and Nigerians are not left out of this interesting shift in monetary paradigm.
