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Forex and Crypto Literacy as Tools for Entrepreneurial Empowerment
Subject area: Management and Commerce · Area of research: Finance and Entrepreneurship
Abstract
Entrepreneurial empowerment through financial literacy has gained increasing attention in today's rapidly evolving digital economy. This paper explores the role of forex and cryptocurrency literacy on Nigerian entrepreneurs, emphasizing their role in financial independence, risk management, and business sustainability. The study highlights how knowledge of these financial instruments enables entrepreneurs to diversify income streams, leverage emerging investment opportunities, and navigate economic uncertainties. While forex literacy allows entrepreneurs to engage in global financial markets and optimize currency fluctuations, crypto literacy fosters financial inclusion through decentralized finance (DeFi) and blockchain innovations. However, challenges such as regulatory uncertainties, market volatility, security risks, and knowledge gaps hinder effective utilization of these financial tools. By synthesizing empirical research, this study underscores the need for structured literacy programs to equip entrepreneurs with the requisite skills for managing forex and cryptocurrency markets. The findings contribute to the discourse on financial education and its role in enhancing entrepreneurial success in emerging economies.
Keywords
Forex literacy, Cryptocurrency literacy, Entrepreneurial empowerment
How to cite this paper
@article{1707323,
author = {Longji Auta Linus, Maryam Lawal, Maimuna Momoh, Elizabeth Dooshima Yonkor, Jane Shwepmo Yarima},
title = {Forex and Crypto Literacy as Tools for Entrepreneurial Empowerment},
journal = {Iconic Research And Engineering Journals},
year = {2025},
volume = {8},
number = {9},
pages = {21-32},
issn = {2456-8880},
url = {https://www.irejournals.com/formatedpaper/1707323.pdf},
abstract = {Entrepreneurial empowerment through financial literacy has gained increasing attention in today's rapidly evolving digital economy. This paper explores the role of forex and cryptocurrency literacy on Nigerian entrepreneurs, emphasizing their role in financial independence, risk management, and business sustainability. The study highlights how knowledge of these financial instruments enables entrepreneurs to diversify income streams, leverage emerging investment opportunities, and navigate economic uncertainties. While forex literacy allows entrepreneurs to engage in global financial markets and optimize currency fluctuations, crypto literacy fosters financial inclusion through decentralized finance (DeFi) and blockchain innovations. However, challenges such as regulatory uncertainties, market volatility, security risks, and knowledge gaps hinder effective utilization of these financial tools. By synthesizing empirical research, this study underscores the need for structured literacy programs to equip entrepreneurs with the requisite skills for managing forex and cryptocurrency markets. The findings contribute to the discourse on financial education and its role in enhancing entrepreneurial success in emerging economies.},
keywords = {Forex literacy, Cryptocurrency literacy, Entrepreneurial empowerment},
month = {March},
}