It's unnecessary to you - a person living in a developed country with democracy and stable banks. It might work as a backup option to people who are less lucky

It's unnecessary to you - a person living in a developed country with democracy and stable banks. It might work as a backup option to people who are less lucky. That's the majority of the world. Whether it's a good option depends on a situation. In any case, it's not for you to judge if it's necessary or not.