I am trying to calculate speed in android device, but which is the best practice to do it, already it has location.getSpeed() function using GPS, is this best way to use? or
The best way for devices that are moving faster than walking speed, is to use directly the location.getSpeed().
For pedestrian, or other slow speed situations, this is not quite easy, maybe it is simply impossible to have a valid slow speed that is valid at the moment.
Some try to evaluate the history and do an averaging, or threshold based approach, this will improve for a specific application / usage.
But the simplest is to design your App to ignore low speeds.
Some links related to speed:
GPS position correction
Smooth GPS data