Having a passport gives you the advantage of you can investing, banking, traveling or even residing in any country. You will have more freedom and opportunities when you have more options. You can internalize your assets and income when you have a passport. These may be off limits in some countries but you will have access to them. The regulations that have been put in place make it hard for you to open a financial account in another country. In this case it will be important to actually have a passport.
You will be able to travel visa-free when you have a passport. When applying for a visa you may take a very long time. When your travel arrangements are urgent this will be a great hindrance for you. This hassle can be time consuming and expensive. Having a passport will help you avoid all this. This is due to the fact that you can travel without a visa. Having a passport will help you avoid foreign country blowback. If you are traveling ton a country that is having issues with your country, you will face a lot of problem. The advantage of having a passport is that it has minimal foreign policy blowback risk.
Having a passport guarantees you that you will not have to live like a refugee. When you have a passport you will have another place you can actually call home. Having a passport is the best way of having a legal right to working and living in another country. You will avoid traveling with your original documents when you have a passport. You will leave them at home safely. This will help you avoid losing and damaging your documents. You cant losing documents like your birth certificate because you will need it later.
A passport will be very helpful in a case where you decide to renounce your citizenship. In this case you will avoid huge tax regulations in your country. The political risk of renouncing your citizenship when you have a passport is very minimal. When you have a passport your government cannot place you under house arrest. In this case they cannot also cancel your passport for any reason. When you have a passport you dont need a photo identification. You can just produce your passport whenever you are asked for an identification card. When traveling to another country ensure that you actually have an identification photo. Having a passport means you can actually seek for employment anywhere. In this case you can actually be employed anywhere. Ensure that you have a passport if you love traveling without facing any challenges.