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October 22, 2018, 05:09:16 AM |
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NANO Faster Than XRP in a Binance Deposit Speed Test
There are many different virtual currencies in the market. Two of the most valuable and known are NANO and XRP. Both of them are known for being very fast and offer almost instant transactions.
The cryptocurrency market has experienced a bull run the last year that has completely affected the network. For example, Bitcoin (BTC) and Ethereum (ETH) had their networks completely congested. Users and investors were not able to send money from one exchange to the other in an easy way.
Some individuals started to sue Litecoin (LTC) since it was faster and cheaper. It was possible, in this way, to send funds between different exchanges. However, XRP has also been used by several users.
The XRP community started to ask exchanges to accept XRP and they are even asking Binance to add it as a base currency on the platform. Nonetheless, the cryptocurrency NANO was able to register the best results according to a test performed by Bitcoinkit.com.
NANO was the fastest digital asset to transfer funds to Binance. Stellar (XLM) is the second fastest option. XRPcomes in the fifth position. Third and four were ICON (ICX) and Skycoin (SKY).
It is important to mention that NANO might perform so well on Binance since the exchange is a representative on the NANO network. Moreover, NANO is a fast currency and combined with the fact that Binance is related to it at some point, this could explain why it has achieved the best result.
Representatives on the Nano network are accounts that cast votes in the case of a fork in the network. Those representatives that have a high up time and locally stored wallets containing accounts that users delegate are considered good representatives.
At the moment of writing, NANO is the 36th most valuable virtual currency in the market and each token can be bought for $1.91 dollars. Moreover, XRP is the third largest cryptocurrency and each coin can be bought for $0.45 dollars. NANO’s market capitalization is $255 million dollars while XRP’s is $18.13 billion dollars.
Both cryptocurrencies work properly, but NANO is a very fast currency to use and to transact funds between different platforms and exchanges.
Source: Bitcoin Exchange Guide News Team
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