Bitcoin is often criticized for its slow transaction speeds, but which cryptocurrencies lead the pack in speed? Below, we explore the top 10 fastest cryptocurrencies based on their average transaction confirmation times.
Note: This list is not ranked hierarchically by speed, as transaction times fluctuate due to network conditions.
Key Metrics for Speed
Cryptocurrency speeds are measured by:
- Block confirmation time (time to validate a transaction).
- Deposit time (time for funds to reflect in the recipient’s wallet).
1. Nano (NANO)
Originally known as Raiblocks (XRB), Nano rebranded in 2018 and quickly gained fame for its speed.
✅ Transaction Speed: Confirms blocks in 3 seconds—faster than a blink!
- Why It’s Fast: Uses a block-lattice structure, eliminating mining delays.
👉 Discover how Nano compares to other top cryptos
2. Stellar Lumens (XLM)
Created by Ripple’s co-founders, Stellar focuses on cross-border payments.
✅ Transaction Speed: ~5 seconds per block.
- Dark Horse: Often overshadowed by XRP but equally efficient.
3. Ripple (XRP)
A banking-sector favorite, XRP balances speed and scalability.
✅ Transaction Speed: ~10 seconds per block.
- Use Case: Institutional transfers via RippleNet.
4. Neo (NEO)
Dubbed "China’s Ethereum," Neo prioritizes smart contracts and speed.
✅ Transaction Speed: Confirms 5 blocks in 20 seconds; deposits in ~1.7 minutes.
5. Gas (GAS)
Neo’s companion token, Gas, mirrors its parent’s speed.
✅ Transaction Speed: Matches Neo at 20 seconds for 5 blocks.
6. IOTA (MIOTA)
IOTA’s Tangle technology bypasses traditional blockchains.
✅ Transaction Speed: ~2 minutes per transaction.
- DLT Innovation: Scalable for IoT microtransactions.
7. Verge (XVG)
A privacy-focused coin with surprising velocity.
✅ Transaction Speed: Confirms 5 blocks in ≤30 seconds.
8. Groestlcoin (GRS)
An underrated contender with robust speed.
✅ Transaction Speed: ~1 minute for 5 blocks; deposits in ~5 minutes.
👉 Explore lesser-known cryptos like Groestlcoin
9. Monero (XMR)
The privacy giant doesn’t sacrifice speed for anonymity.
✅ Transaction Speed: Confirms 3 blocks in 2 minutes; deposits in ~6 minutes.
10. Litecoin (LTC)
Bitcoin’s "silver sibling" lives up to its promise of speed.
✅ Transaction Speed: ~2.5 minutes per block.
FAQs
Q1: Why isn’t Bitcoin on this list?
Bitcoin averages 10+ minutes per block—far slower than the above cryptos.
Q2: How is transaction speed measured?
Through block confirmation time (consensus) and deposit time (network latency).
Q3: Can transaction speeds vary?
Yes! Network congestion, node distribution, and protocol upgrades affect speeds.
Q4: Which crypto is best for daily transactions?
Nano or Stellar—both offer sub-10-second confirmations.
Q5: Are faster cryptos less secure?
Not necessarily. Speed depends on consensus mechanisms (e.g., Nano’s block-lattice vs. Bitcoin’s PoW).
Final Thoughts
While Bitcoin remains the store-of-value leader, these 10 cryptos excel in transactional efficiency. Whether for micro-payments (Nano) or institutional use (Ripple), speed is a game-changer in blockchain adoption.