What are the best cryptocurrencies with fast transaction speeds? When you choose a crypto coin to invest in and trade especially, there are a few specific things that you should consider before you finalize one such as:
- Its transparency
- Its safety and security aspects
- Its immutability and
- The privacy aspect.
In addition to that, you should also consider its transaction speed to make the best use of its enormous potential. This ideally is a technical specification and better it is, more scalable will be a product.
Transaction speed may vary from one crypto coin to another because there are several things that may slow it down such as block size and volume. This, therefore, makes it quite cumbersome to use them in real life.
Several cryptocurrencies and networks use specialized technological solutions such as Tangle, DAG, or Hashgraph to expedite the transaction speed of the coins.
Other facilitating elements such as Lightning networks are also developed and used to ease the decisive factor of a successful transaction.
However, there are also a lot of other crypto coins with fast transaction speeds but are average in value and therefore do not feature in this list.
- 12 Best Cryptocurrencies with Fast Transaction Speeds
- 1. Bitcoin – Reliable and Prospective
- 2. Bitcoin Cash – Rival Fork of Bitcoin
- 3. Dash – Master Node Governance
- 4. NEO – Delegated Proof of Stake Coin
- 5. Monero – Community Driven Coin
- 6. Nano – Fast and Scalable
- 7. PIVX – Focuses on Privacy
- 8. Dogecoin – Old yet Fast Crypto Coin
- 9. Litecoin – Robust and Fast
- 10. Ethereum – Second Largest Crypto Coin
- 11. Ripple – Best Coin to Make Global Payments
- 12. EOS – Supports Large Scale Applications
12 Best Cryptocurrencies with Fast Transaction Speeds
The transaction speed relies on several factors such as network congestion, high transaction fees, and slacker nodes.
Since all these are very important factors that will affect the outcome of your trading crypto coins, it is crucial to know the transaction speeds of the particular coins you wish to choose and trade with.
This list comprises some of the major cryptocurrencies with a high transaction speed, ranging from 10 seconds to 10 minutes, in no particular order.
1. Bitcoin – Reliable and Prospective
Bitcoin, especially, is one of the most reliable and popular cryptocurrencies in the world that, in spite of having a transaction time of 10 minutes, is quite favored among the crypto traders. This is the primary reason that it is included in this list.
Over the years, this digital asset has shown enormous maturity.
According to the records, Bitcoin witnessed a record high of $61,556.59 as on March 13, 2021. Considering its prospects, crypto experts believe that it will cross the $100,000 mark by the end of this year.
Therefore, if you are okay with a speed of processing about 7 transactions per second, Bitcoin is one good crypto asset to consider investing in.
2. Bitcoin Cash – Rival Fork of Bitcoin
This is another crypto asset that also has a transaction time of 10 minutes and is considered to be the rival fork of Bitcoin.
However, overlooking its comparatively slow transaction speed in comparison to other crypto coins in this list, the BCH is a good asset to invest in due to its high potential.
Also, it is known to have quite a reasonable number of supported pairs with BTC, ETH, USDT, USD, and EUR.
3. Dash – Master Node Governance
Dash is one of the oldest crypto assets in the market. The unique aspect of it is that it popularizes the master node concept when it comes to governance.
This makes it a faster coin to trade with. The average time taken to execute each transition using DASH is about 2 minutes 39 seconds.
Depending on other determining factors, this block time can help it to process as many as 56 transactions in a second, provided the block size is limited to 2 MB. This block size however has been increased from 1 MB last year.
Once again, it supports different types of crypto pairs that includes BTC, ETH, USD, and USDT. You can buy DASH from different crypto exchanges such as Binance, Bittrex, Gate.io, Bitfinex, and KuCoin.
4. NEO – Delegated Proof of Stake Coin
NEO is quite quick in processing transactions which is ideally about 1000 transactions per second. With such a high speed of transaction this delegated Proof of Stake coin is considered to be the Ethereum killer.
Calculating with all other factors remaining constant, the platform can process a transaction in about 15 seconds on an average to create the next NEO block. You can buy the NEO coins from Binance, Bitfinex, and Bittrex and pair it with BTC, ETH, USDT, and USD while trading.
This blockchain-based and open-source platform not only supports its own currency but the creators Da HongFei and Erik Zhang ensure that it also helps adequately in developing and managing the digital assets.
It allows creating smart contracts with an intention to construct a distributed network that is based on the smart economy system.
This specific platform is considered to be highly scalable and comes with a huge potential to become one of the most commonly used digital currencies by the end of 2023. Crypto market experts think that its value will be as high as $437 USD by then.
5. Monero – Community Driven Coin
Monero is a popular and favored coin amongst the traders for several good reasons of which the few are its anonymity and privacy.
This is a coin driven by the community which has quite a decent transaction speed with about 2 minutes taken on an average to process a transaction.
This is quite fast to create the next block which is more dynamic in size.
This means that as and when the average volume of the network grows, it will be able to adjust automatically and continually so that nothing affects its transaction speed.
You can pair Monero with different crypto coins such as BTC, ETH, USDT, USD, and EUR. You can buy them from the major crypto exchanges such as Binance, Bittrex, Poloniex, Bitfinex, and Kraken.
6. Nano – Fast and Scalable
Previously known as Raiblocks, Nano is a comparatively new form of crypto coin. It came into existence in 2017 and has grown in popularity quite fast and significantly due to its Block Lattice technology.
This particular crypto coin is pretty fast and has a very high scalability as well. As for the transaction speed, the platform takes as little as 5 to 10 seconds to complete a transaction and get confirmation for the same.
You will find Nano in some of the most favored and popular crypto exchanges such as Binance, KuCoin, and Koinex.
7. PIVX – Focuses on Privacy
In addition to a faster transaction speed, the PIVX coins will also ensure utmost privacy while trading them.
This coin is also very reliable and popular due to the Proof of Stake mechanism followed by this coin. This system gives it a distinct edge to this coin in comparison to other crypto coins that work on the same PoW system.
This particular coin is a fork of DASH. The transaction speed, or in fact the block timing, of this coin is about a minute.
This involves processing the transaction and adding the next PIVX block within the network.
You can buy this coin from popular coins such as Binance, Changelly, and YoBit and pair it with BTC, ETH, and BNB.
8. Dogecoin – Old yet Fast Crypto Coin
The Dogecoin is another cryptocurrency that runs on the PoW or Proof of Work consensus.
This cryptocurrency is very old and the PoW consensus mechanism makes it pretty fast in processing transactions.
If all the factors remain constant and reliable, the average time taken in processing a transaction is about one minute and to add the next Dogecoin block to the network.
You can invest in this specific coin if you want a fast transaction speed but keep in mind that this project development is dead for quite a long time.
You can buy Dogecoin from crypto exchanges like Binance, Gate.io, and Kraken.
And, you can pair this coin with USD, BTC, GBP, USDT, TRY, BUSD, SXC, and EUR, depending on the exchanges you choose to buy these coins from.
9. Litecoin – Robust and Fast
It is also very fast and comes with a robust infrastructure to handle a transaction in about 2:30 minutes and add a Litecoin block further into the chain.
You can buy LTC coins from different major cryptocurrencies such as Bitfinex, Binance, Bittrex, Livecoin, and Poloniex.
However, different crypto exchanges will support different crypto pairs such as USD, BTC, USDT, ETH, and XMR.
10. Ethereum – Second Largest Crypto Coin
Created in 2013 by Vitalik and launched in 2015, this is a blockchain based and open source Distributed Computing Platform. It is unique and features smart contract functionality.
This is the runner up digital currency after Bitcoin in terms of market cap.
Your wallet, coins, as well as the transactions will be well protected and safe because the platform will allow you to transact without the need of any intermediary service or a third party involvement.
You can buy ETH from some of the renowned crypto exchanges such as Binance that supports ETH/BTC, Bittrex with ETH/BTC pairing support, Gate.io with a support for ETH/BTC pairing just as Bitfinex, and KuCoin crypto trading exchanges.
The transaction speed of ETH is quite decent which is about 20 transactions per second with an average of 14 to 17 seconds taken to process each of them and add a block to the network.
On the other hand, if you consider the time taken for confirmation of a transaction, it is about 5 minutes.
If you consider Ethereum 2.0, it will be much faster, handling about 10000 transactions per second, due to the shard chains.
However, the good thing about Ethereum is that it is never complacent and continually goes under a development process.
Recently, it has been facing traffic congestion due to a few scalability issues.
Therefore, it is making plans to switch over to PoS or Proof of Stake consensus very soon so that the transaction speed is even faster in the future.
11. Ripple – Best Coin to Make Global Payments
Ripple was introduced by Chris Larsen and Jed Mc Caleb and was launched in 2012. Ripple or XRP coins are considered one of the best and safest crypto coins to make global payments.
The primary objective of this crypto platform is to provide the users with a much better experience while trading, which is further facilitated by its faster transaction time.
According to its official website, this cryptocurrency is considered as the fastest coin that works on secure blockchains.
Typically, XRP can process nearly 1500 transactions in a second and the average approval or ledger settlement time ranges between 3 to 5 seconds.
There are also several other good features of this platform that makes it one of the most popular and favored crypto coins to the investors and crypto traders.
It will offer you with much more momentous economic opportunities when you trade all over the globe or use it as a platform to transfer money.
The open source and decentralized nature of this P2P network makes it one of the most significant and popular digital payment protocols for having a seamless experience while transferring money.
You can buy XRP from Binance, Bittrex, Swapzone, Coinmama, Changelly, and other major crypto currencies and pair it with BTC, ETH, and others.
12. EOS – Supports Large Scale Applications
EOS is a decentralized platform based on blockchain that supports executing Decentralized Applications or dApps as well as several other large scale applications.
The blockchain of this cryptocurrency will ensure that you have a seamless and faster trading experience.
You will also be rewarded if you use the new EOS to run the network. Another good aspect of this is that it will substitute inflation to its entirety when it comes to the transaction fees.
You can pair it with BTC, ETH, USDT, BUSD, and others. You can buy the coins from Binance, Bittrex, Kucoin, Coinbase, Bitfinex, and others.
In fact EOS is considered to be a strong contender to become the best cryptocurrency and even outsmart its rival Ethereum completely.
Crypto critics, technocrats, and blockchain developers believe that this crypto is much better, faster, reliable, and more scalable due to the advanced services provided by its blockchain.
Typically, EOS can handle as many as 2800 transactions per second which makes it the fastest and the average confirmation time of each transaction being quite low at 0.5 seconds.
Transaction speed of the crypto coins is a very important factor to consider. Choose one of the crypto coins from the above list so that you can trade faster without having to wait for a long time to validate transactions and payments.