SOCIAL AND ECONOMIC IMPLICATIONS OF CRYPTOCURRENCY AND BITCOIN MINING TECHNOLOGY AMONG NIGERIAN YOUTH: A COMPARATIVE ANALYSIS

Abstract This study explores the social and economic implications of cryptocurrency and Bitcoin mining technology among Nigerian youth, providing a comparative analysis of its multifaceted impact. As cryptocurrency adoption and Bitcoin mining continue to rise, particularly among the younger demographic in Nigeria, this research investigates the profound effects on their economic opportunities, social interactions, and overall livelihood. By examining the economic benefits, such as income generation and employment opportunities, alongside potential challenges like regulatory uncertainties and environmental concerns, this paper aims to offer a balanced perspective on the burgeoning industry. Additionally, the study delves into the social dynamics influenced by cryptocurrency engagement, including changes in peer networks, digital literacy, and social mobility. Through a combination of qualitative and quantitative methods, including surveys, interviews, and data analysis, this research provides a comprehensive overview of how Bitcoin mining technology is reshaping the economic landscape and social fabric of Nigerian youth. The findings aim to inform policymakers, stakeholders, and the global community about the potential of cryptocurrencies to drive economic growth and social change, while also highlighting the need for sustainable and inclusive policies to harness this potential effectively. Keyword: cryptocurrency, Block chain, Bitcoin, mining, Nigerian, youth.