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During the Bull Race last year until the beginning of this year, many operators shared notes on which cryptocurrency was the fastest when funds were fired through exchanges to capture the commercial action. As the volume of global trade increased, many traders discovered that Bitcoin (BTC) and Ethereum (ETH) networks were becoming congested, delaying cryptographic transfers.
The cryptographic merchants soon discovered that Litecoin (LTC) was quite fast and started using it to transfer funds through exchanges. The use of LTC is partly the reason why the digital asset reached a peak of around $ 372 at the beginning of this year.
XRP used to transfer funds through exchanges
As time passed, operators soon discovered that XRP is a faster option when funds are transferred between exchanges. The XRP community has an ongoing campaign to add the digital asset as a base currency in the Binance cryptocurrency exchange.
NANO takes first place when transferring to Binance
In the most recent exchange rate test performed by Bitcoinkit.com, NANO has surpassed even XRP to become the fastest digital asset by transferring funds to Binance. Stellar (XLM) is in second place, with XRP in fifth position. The list is constantly updated per hour.
Could it be because Binance is a representative of the NANO network?
Investigating further why NANO might be working so well in the deposit speed test, we discovered that Binance is a representative in the NANO network. Along with the fact that the NANO currency is fast (less than 5 seconds to complete a transaction), we understand why it tops the list.