Well, for one thing, not all crypto are the same. They have different functions. Some are good like vechain, blockchain that help keep track of supply chain. There are others that can help wiring money for cheap or even almost free. Some are ludicrous like meme coin such as doge or shiba inu. Coin like BTC is IMHO is a make believe asset, if there are enough people think that BTC is valuable then it is valuable, kinda like meme coin but since BTC is the father of cryptocurrency, it has some intangible value although that is difficult to determine.

I myself have invested in crypto. I really regretted that I quit some of my position in 2017 when the crypto market crashed. If only I hold some of it, I might have retired today. I still made handsome return on my investment though. Personally, I think every one should allocate money that they can lose to crypto investment. Who knows, you may be able to strike it rich. There are also a lot of exciting projects going on in crypto scenes. But I won't lie to you, it is not for faint hearted people. For your coin to dip 20 to 50% in a matter of hours is pretty common.