(1) People who are unable to use bank checking or savings accounts. In 2022, the U.S. Federal Reserve estimated that 12% of Americans have used crypto assets because many of them lack access to bank accounts and credit cards. Bank accounts require a minimum balance in order to avoid a monthly fee, and credit card accounts have qualifications such as good credit history and annual income. As far back as 2012, CNN Money reported that almost 10% of American households had no bank account. See
centralized finance drawbacks.
(2) People who keep their money in cryptocurrencies rather than traditional bank accounts. See
crypto glossary.