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Is it possible move faster in Terraria? I mean, when you are very deep in the underground is it possible returning to the surface faster, using elevator, for example, or other things? Or when you need to move from the left edge of the world to the right edge?

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There is this useful wiki page about items that modify your horizontal movement speed. –  user1306322 Jun 6 '13 at 17:11

9 Answers 9

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There's rocket boots you can get for going up faster.

Each Anklet of the Wind you equip adds 10% to movement speed. (But as of 1.06, they no longer stack, though you should be able to have one Anklet and one Aglet)

Hermes Boots increase movement speed by 100%, but take a while to accelerate.

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In 1.1, you can now combine hermes boots and rocket boots into spectre boots, the new boots and some armor sets increase movement speed, there are enchantments that increase movements speed, and you can make wings for flight and slowfall. combine all of these methods and you should be going pretty fast –  Skizzlefrits Dec 6 '11 at 16:30

There is also a Magic Mirror which will teleport you from where you are to your set spawn point.

Nothing that works the other way round as far as I know though.

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There are multiple ways to go fast in Terraria as for the 1.2.4.1 version.
I'll list all the non-accessories ways to transport yourself, many of them imply blocks or wire placement.

Pre Hardmode Tier

Swiftness potion & food

+45% speed
the potion add 25% to your speed, and the food (which gives you the 'well fed' buff) will add 20%.

Ropes

Very cheap yet very useful. With them, you can travel long vertical distances without caring about fall damage, you can also travel horizontally, but it's very slow.

Speed Hookshot

If you are pretty familiar with the hookshot, you can move around quite quickly

Horizontal : Hook the ground to the far left/right and jump before it has fully retracted to keep the speed. Flat ground, and up-slopes are recommended for this use.

Vertical - upwards : set some platforms, on the way up, and when you hook them, jump just before reaching them to keep the vertical speed and re-use immediately the hookshot to reach the next platform.
However, if you have ropes, you better use them on vertical pathways.

Rails & Minecarts

you can go horizontally or diagonally with a very solid speed (faster than the hermes boots). All you need is some iron and wood.
1 wood + 1 iron bar = 30 pieces of track.

You can make the minecart jump with a slope in order to spare some tracks blocks, make sure your speed is sufficient and your track planning is correct, or you might suffer fall damage inside the cart.
You can even change direction thanks to bumper tracks (hammer the end of a track twice)

If the mecanist is here, buy her 4 boosters (for 2 gold coins) and place them on the track, you can now get from 0 to maximum speed with the minecart.

Magic mirror/Recall potion

It is cheap and teleports intantaneously the player who uses it, but it only works in one way.

Hardmode Tier

The steampunker will be your best friend for these ones

Asphalt

Buy her a Blend-O-Matic to create a road where you can run fast on it, even without speed boots. 2 stone blocks + 1 gel = 1 asphalt block

Frozen slime block

Buy her a Solidifier to solidify 1 gel in a slime block and combine it with an ice block. There is no friction on those blocks, once you have enough speed, you can let go, but the goal here is to get the best speed, and you can do it without having to run :
Use the hookshot's pulling speed : you can do it easily with hooking the middle of a door and then open the door after stabilizing. The bat hook has the best pulling speed. However, velocity hasn't got the same value.

Teleporter

The fastest way to travel in the game, and probably the most expensive. You need 2 teleporters on both sides, and connect them to wires and any kind of wire input to use them.

Game breaking Tier

I am currently unfamiliar with it, but ... here goes nothing.

HOIK glitch

It exploits the slopes mechanism for an optimal speed, and the cost is only basic, solid blocks !
You can use it at any moment in the game, but you can end up stuck in walls if you're not careful enough. Since it's a glitch it might be fixed in the next update.

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As far as getting down to the lower levels as fast as possible, a straight shaft works great. Just dig a 2-square wide shaft straight down as deep as you'd like.

You'll have to account for fall damage however. Either find a Lucky Horseshoe (no damage on fall), Cloud in a Bottle (jump just before you land), or make a Grappling Hook (grab the wall just before you land). EDIT: As Acorn mentioned in a comment, placing cob webs at the bottom of the shaft should to the trick as well.

EDIT: Another method I've found that works great outside is using the grappling hook on the ground some distance ahead of you. As soon as it grips you get a burst of acceleration. If you click again in the air before the grappling hook fully retracts you can ride out the increased speed for a while. This works best on flat or slightly down-sloped ground; not so great on an inclined slope.

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Couldn't you just put cobwebs at the bottom of the shaft? –  Acorn May 25 '11 at 15:56
    
@Acorn: Good thought. Probably much simpler than anything other than the Lucky Horseshoe. –  tQuarella May 26 '11 at 15:13
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You can also put water at the bottom of the shaft. It seems to slow you down and prevent fall damage. –  thedaian May 26 '11 at 17:47
    
Another cool grappling hook trick is to grapple to a closed door, and open the door while grappled to it. You get a small burst of speed. –  Arkive Jun 10 '11 at 17:15

In version 1.2 was added Lightning_Boots as upgrade of Spectre_Boots and also Asphalt_Block. On it you have greatly increased running speed. Great for underground tunnel and skybridges.

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@jos already mentioned the magic mirror, but Saving and reloading also puts you back at your spawn point. This serves as an easy alternative for the early game (although it requires more patience).

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It is a bit boring but useful early game. Another way is suicide but in this case you loose part of coins. –  Drake May 24 '11 at 19:44

Another alternative is to reforge your accessories. The Quick prefix grants up to a 4% increased movement speed, and with a maximum of 5 accessories, this can easily be a 20% speed boost.

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Use a lightning boots wings anklet of the wind aglet and the bundle of balloons this helps a lot and also layering or adding your whole world on the ground with asphalt blocks will make you run at least 20 times faster than usual :-))

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I found that to get across the world quickly, you can use: Quick Fishron Wings, Quick Anklet of the Wind, Quick Frostspark Boots, Quick Aglet, Quick {Accessory of your choice}.

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