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Asymmetric encryption is characterized by its use of two distinct keys: a public key and a private key, which work in tandem for encryption and decryption processes. The public key is made available to anyone who wishes to send encrypted messages, while the private key is kept secret by the owner. When a message is encrypted using the recipient's public key, only the corresponding private key can decrypt it. This key pair system offers enhanced security because even if someone gains access to the public key, they cannot decrypt messages without the private key.

The incorrect options highlight misunderstandings about the encryption methodology. For instance, using the same key for both encryption and decryption pertains to symmetric encryption, not asymmetric. Asymmetric encryption is generally slower than symmetric encryption due to the more complex mathematical operations involved, which contradicts the notion that it is a faster method. Lastly, stating that it does not require any keys at all overlooks the fundamental principle of encryption, which relies on keys for securing data. Thus, the characteristic of employing both a public and a private key distinctly defines asymmetric encryption and is the correct answer.