Yes, and in most cases you need a bank account or at least a debit card to buy crypto to begin with.
I'm long crypto but i think the argument of banking the unbanked is a bit contrived, much like the store of wealth narrative in the face of regular -20% "corrections".
It should be seen as a speculative investment and not really a currency. Perhaps stablecoins can serve that market eventually.
Quick update on this. While getting fiat into crypto is easy. I failed now for 2 weeks in a row to do the reverse.
Binance should be avoided at all cost.
I'm long crypto but i think the argument of banking the unbanked is a bit contrived, much like the store of wealth narrative in the face of regular -20% "corrections".
It should be seen as a speculative investment and not really a currency. Perhaps stablecoins can serve that market eventually.