For decades various organizations around the world have been working diligently to bring banking services to the unbanked billions. The global spread of mobile phone access and advances in fintech innovation are laying the groundwork for great strides to be made in this area. There is however, a segment of the population who doesn’t consider banking to be one of life’s necessities, and are becoming unbanked by choice.

Thanks to digital currencies like bitcoin and good old fashioned cash, it is possible to live a bank-free lifestyle. The biggest hurdle to a cash-only life has always been the lack of any way to transfer value online or long distances. In a groundbreaking technological breakthrough, cryptocurrency has changed all that.

By choosing cash and cryptocurrency you get the best of both worlds, an easily spendable local currency, and a global currency that will hold its value. Cryptocurrency is tradeable with any local fiat currency, and can be used to pay for wages and virtually anything else you may want or need including real estate, gold, and other commodities. In 2014 a Lake Tahoe property valued at $1.6 million, was sold for 2739 bitcoin. The current value of that bitcoin is $2.8 million – not a bad profit!

Since paper leaves no digital trail, cash is the best option for spending if remaining anonymous is your primary concern. It remains the go to choice of drug dealers and organized crime. No matter how much a cryptocurrency’s blockchain is obscured in an effort to hide transaction history, there is still a trail (though it may be difficult to trace), as there is for everything else we do that involves the internet.

The lack of financial literacy within the general population has helped lead to an explosion of consumer and household debt. By using inflation-resistant cryptocurrency and converting it to cash when needed to spend locally, you are all but assuring avoidance of debt, as you can never spend more than you earn. Getting to this point may be a longer process for some, but weaning yourself off of a debt-ridden life caused by excessive spending using borrowed money, has to start somewhere.

This pay-as-you-go cash and crypto way of life is gaining momentum. More and more people are choosing to cut out fee collecting middlemen by abandoning traditional financial service providers, and opting for transacting in cryptocurrency with cash as a backup.