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What is the best crypto use case? Community answers

As fears surround the crypto market as major projects and firms file for bankruptcy one after another, community members continue to remind the world of the best use cases for cryptocurrency.

On Twitter, the Cointelegraph social team asked the community to share their perspectives on what the best crypto use case is. From payments and self-preservation to transparency and investment, community members gave a wide range of answers.

One member of the community highlighted using stablecoins like Tether (USDT) as payment methods while pointing out that other cryptos can be used as investment tools. On the other hand, another reaction brought increase the transparency that crypto brings. Apart from this, also one answer excited the concept of saving, spending and self-preservation, which has been talked about more recently since the FTX crash.

In the meantime, another answer wrote the best use case is still how crypto provides a decentralized, peer-to-peer transaction mechanism that cuts out middlemen like banks and allows the unbanked access to a financial instrument.

Contrary to some answers, a member of the community answered that the crypto space should target everyday utility. According to the Twitter user, decentralized finance (DeFi), non-fungible tokens (NFTs) and trading may not move crypto adoption to the rest of the world moving forward. The community member pointed out that it is time for the crypto ecosystem to upgrade its utility.

Related: Will Ethereum Ever Surpass Bitcoin? Crypto community answers

Another Twitter user echoed the previous sentiments by emphasizing that payments still remain the best use cases of crypto. The community member also pointed out the possibility of Dogecoin (DOGE) being implemented on Twitter as a means of payment within the social platform.

Amid the downturn of crypto markets, many community members believe that Bitcoin and crypto are here to stay. Some argue that the current FTX crisis is only a black swan event, while others have reaffirmed their undying faith in crypto.

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