While fears surround the crypto market due to how large projects and firms file personal bankruptcy one by one, community people still help remind the field of the very best use cases for cryptocurrency.
On Twitter, the Cointelegraph social team requested the city to talk about their perspectives on which the very best crypto use situation is. From payments and self-child custody to transparency and investment, community people gave an array of responses.
What’s the best use situation of crypto?
— Cointelegraph (@Cointelegraph) November 29, 2022
One community member highlighted using stablecoins like Tether (USDT) as payment methods while mentioning that other cryptos can be used investment tools. However, another response introduced in the transparency that crypto brings. Aside from these, one answer also elevated the idea of saving, spending and self-child custody, which lately grew to become more spoken about because the FTX collapse.
Meanwhile, another answer authored the very best use situation continues to be how crypto supplies a decentralized, peer-to-peer transaction mechanism that eliminates middlemen like banks and enables the bankless to get access to an economic instrument.
Unlike some solutions, a residential area member responded the crypto space should target everyday utility. Based on the Twitter user, decentralized finance (DeFi), nonfungible tokens (NFTs) and buying and selling may not move crypto adoption toward all of those other world. The city member noticed that it’s here we are at the crypto ecosystem to upgrade its utility.
Another Twitter user echoed the prior sentiments by highlighting that payments still remain the very best use installments of crypto. The city member also stated the potential of Dogecoin (DOGE) being implemented on Twitter as a way of payment inside the social platform.
Among the downturn of crypto markets, many community people think that Bitcoin and crypto are not going anywhere soon. Some reason that the present FTX crisis is just a black swan event, while some reaffirmed their undying belief in crypto.