Oil-based finishes and water-based finishes each have their own benefits that can help you with different crafting projects.

Benefits of Oil-Based Finishes:

1. Long Lasting: Oil-based finishes usually last a long time, up to 5 to 10 years before you need to apply more.
2. Rich Color: They give a deeper color and make the wood grain look nicer, often brightening the color by 20 to 30%.
3. Strong Against Damage: These finishes are better at resisting scratches and chemicals, which is important for surfaces that get a lot of use.

Benefits of Water-Based Finishes:

1. Quick Drying: Water-based finishes dry much faster, usually within 1 to 2 hours. In contrast, oil-based finishes can take 8 to 24 hours to dry.
2. Safer for Indoor Use: They have lower amounts of harmful chemicals (called VOCs), usually under 300 g/L, making them safer to use inside.
3. Easy to Clean: You can clean up water-based finishes with just soap and water, while oil-based finishes need special solvents.

In summary, choosing between oil-based and water-based finishes depends on what your project needs, like how long it needs to last, how quickly it should dry, and safety concerns for the environment.