The most efficient way to level is going to be what you can handle doing for long periods of time. Can you endlessly grind enemies without falling asleep at your keyboard or constantly getting distracted by other things because grinding is boring? Sometimes I can and sometimes I can't.
I'd say that doing dungeons is usually the fastest way to level w/o becoming too bored -- Unless, of course, you just cannot stand PvE (which I would kind of find odd in a game that heavily revolves around it

) However, more often than not, you do need a team that can fill the roles that a dungeon requires.
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