ASCII only sends plain text. You can use that if you're only uploading or downloading text files or HTMLs.
You'll need the binary file trasfer format to download/upload anything else.
I always transfer in binary, because ASCII can garble non-text files (executables, compiled files, etc). ASCII is used primarily for text files. I don't think there is a speed difference.
There really isn't a speed difference. Like others have said, it depends on what type of file you are transfering. Does it have an option for Auto? That is just easiest.
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