The last few years have seen cryptocurrencies and digital assets shift from a peripheral niche market for tech-savvy investors into a mainstream, legitimate form of currency that normal people are using in day-to-day transactions. 

The boom in popularity for crypto can be attributed to a number of different factors, but the power of its accessibility is a powerful tool in the crypto arsenal. The decentralized nature of these digital currencies allows typical geographical, bureaucratic and socioeconomic barriers of traditional fiat currencies to be removed for many people using crypto. The gaps that crypto can bridge are often overlooked but are considerable in some instances. Let's take a look at how crypto can help access services that may otherwise be out of reach. 

1. Bypassing Restrictions

Crypto can be a great way for people to access certain platforms and industries that they would otherwise be unable to access due to regulatory or legal barriers. In the same way that many around the world use VPNs to access websites that are blocked in their country, crypto allows people to gain financial access to blocked websites, which is a very popular selling point. An example of this can be noted in the iGaming and online casino industry. 

Domestic policies for gambling are different all across the globe, with some countries allowing access to online gambling and others completely prohibiting it. Indeed, this tapestry of legality becomes even more complicated in the US, where each state has its own gambling regulations. Crypto is a gateway to gambling for many in these prohibited domestic states, where crypto casinos offer great alternatives. The likes of Texas prohibits most gambling, but it has several great crypto betting platforms to choose from regardless (source: readwrite.com). 

2. Worldwide Banking Access

One of the biggest and best influences of crypto on the global financial market is its unique ability to offer a banking system to those in countries who would have otherwise been unable to access banking or financial institutions. The World Bank has reported that around 1.4 billion people around the world do not have access to traditional banking systems and rely on other methods for transacting money. 

This has meant that for years, these people have been limited in their ability to save money, securely store their funds, obtain loans, or participate in the large e-commerce market. However, the emergence of cryptocurrencies has enabled these individuals to change their circumstances. 

Cryptocurrencies like Bitcoin and Ethereum can be accessed by anyone, anywhere, who has a smartphone and an internet connection. E-wallets and cryptocurrency platform accounts can be set up in a matter of minutes and do not require typical financial institution identification checks, such as proof of income or credit history. This means that in countries where the banking system is lacklustre or the government has restricted access for people, crypto can empower and facilitate people to have financial freedom that they would otherwise not have. 

3. Cross-Border Payments

Anyone who has tried to send money internationally across borders knows that it can be expensive and time-consuming. However, crypto is changing this notoriously arduous process. The revolutionary digital cryptocurrencies allow for instant and rapid transactions with reduced fees around the globe. This makes it the ideal method of transaction for migrant workers sending money home or those who have family living in other countries.

4. Financial Sovereignty 

In countries where harsh censorship and governmental control are exercised, crypto is a great way for the population to attain financial sovereignty. The peer-to-peer nature of crypto allows people to trade on the blockchain personally, which cannot be controlled as easily by authorities. This means there are no third-party interferences happening and crypto can avoid financial surveillance from states.