Yes grease caps can be used in place of silicone sealed wire connectors. However, silicone sealed wire connectors are the easiest to use since you simply twist the wire nut onto the wire connection which pops the silicone bubble and covers the wire connection.
Grease caps degrade with time also. The grease breaks down and over time you may have corrosion or moisture problems. I highly recommend silicone sealed wire connectors.
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