When judging the reliability and power of a cryptocurrency, transaction speed is a major factor.
The faster a coin is, the more likely it will be used to move digital money around the globe. Arbitrage traders also rely on speedy coins, moving crypto between exchanges and taking advantage of price differences in the volatile crypto market.
Determining which coins are the fastest can be tricky. A cryptocurrency’s reported transaction speed is often not very reliable as it is usually based on test pilots and not real-world use cases.
To get a sense of how fast various coins are in the real world, Bitcoin Kit compiles a list of how long it takes to deposit cryptocurrencies on various exchanges. The site also tracks confirmation times along with the number of confirmations required for a coin to be deposited into your account.
Looking at the list of coins on leading cryptocurrency exchange Binance, Nano is the fastest of them all.
Next up is Stellar, followed by Ripple, Gas and NEO. Here’s a look at the top ten:
The rankings change often, and the list above is the most current at time of publishing.
You can check out the full list here.