The latest crypto winter has brought terrible news for crypto enthusiasts. Investors and traders watched how crypto assets went from hot to full-on meltdown, with no coin being spared by the collapse. Even the most established assets were greatly affected by the freezing temperatures, and none has recovered yet. Several exchanges went bankrupt, a couple of stablecoins were wiped off the board, and governments worldwide have started cracking down on crypto. This brutal crash served as a wake-up call, reminding us of the volatile nature of digital currencies and the risks they entail.

But is this reason enough to declare that the crypto bubble has finally burst? The hype has quieted, and the trading volume has decreased considerably over the past few months. Still, if we look at the bigger picture, it’s pretty obvious that the crypto phenomenon is far from being over. Despite the uncertainty and doubt that are looming over the industry at the moment, digital currencies continue to march toward mainstream adoption. Many platform exchanges like Binance are still up and running, offering updates on the Bitcoin price and providing users with easy access to various crypto services. Investors and traders are slowly but surely finding their way back to crypto, and many still hold hope that this could bring them substantial earnings.

We can safely say that the crypto craze has been brought down a notch, but it’s still a part of the financial reality of the moment. However, while most focus on what this means for the biggest players in the industry, we should not forget that the average crypto users also play an important role in the equation. If you own crypto or intend to delve into digital assets in the future, you may wonder how this might benefit you. So, here’s a comprehensive list with all the advantages you can expect as a crypto user.

Lower costs

The traditional financial system has many flaws, but one of the biggest drawbacks for consumers is probably represented by the high fees that banks and monetary institutions incur for providing custody services and processing transactions. If you want to keep your fiat money in an account or conduct a transfer, you must resort to an intermediary, a bank, or a financial provider that will most likely charge a certain fee for these services.

With crypto, things work a bit differently. Since digital currencies are based on blockchain technology, a decentralized public ledger distributed over a peer-to-peer system that records and stores transactional data, there is no need for a third party to oversee and facilitate transactions. This means crypto users don’t have to trust an intermediary to hold their digital assets. They can handle storage with a digital wallet, thus eliminating custody costs. As for transfers or using crypto as a payment method, the fees are significantly lower or even inexistent. Any fee you have to pay in this respect doesn’t enter the pockets of a financial institution but is rather used to ensure the well-functioning of the infrastructure.

Ease of access

Having a bank account or credit card has become commonplace nowadays, but not all can enjoy these financial products’ perks. The traditional banking system, as advanced as it might be, doesn’t cater to everyone due to the limitations imposed by the eligibility criteria. That leaves many people on the fringes of the monetary system, unable to access mainstream financial services. According to statistics provided by World Bank, there are approximately 1.4 billion unbanked adults worldwide, most of them coming from rural or underdeveloped areas.

As a new paradigm for money that circumvents centralized systems like banks and governments, crypto can become a very effective tool for banking the unbanked. There’s no cumbersome verification process to open a crypto account. The only requirements for using digital currencies are having a smart device and an internet connection. By eliminating barriers to entry, crypto can ensure greater financial inclusion and create a more equitable financial system.


Different countries use national currencies backed by the government, each with a specific value determined by the local financial landscape. By the latest count, there are 164 official national currencies used across the world at the moment. If you’re conducting international transactions, you have to keep a close eye on exchange rate fluctuations. Similarly, if you’re traveling to a different country, you’ll have to convert your money into local currency. It may be difficult for average consumers to understand how foreign exchange works.

You won’t have to deal with any of these issues in the crypto space. Cryptos are international and universal because local governments do not issue them, so their value doesn’t change based on geographical borders. One Bitcoin is worth the same in every country across the globe. Therefore, crypto can be considered an inflation-resistant financial instrument.


Banks and other financial institutions collect data from their customers, including name and address, Social Security number, information regarding their financial history, and so on. Although some data is required for practical purposes, not all are used in the customers’ best interest. Therefore, traditional financial services might feel intrusive by requiring so much information.

Crypto lies at the other end of the spectrum as it only collects a minimum of user data and provides higher privacy. While digital currencies don’t ensure complete anonymity, they do enable users to mask their identity and keep their personal detail private, so they feel less exposed and vulnerable.

Digital currencies get criticized a lot for their shortcomings, but there’s no denying they have a lot of strong suits as well, especially when you compare them with conventional money. So, even if the hype has died down a bit, we have all the reasons to believe we haven’t seen the last crypto rush.

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