Today we are going to talk about jobs related to cryptocurrencies, blockchain and the professional career dedicated to this technology. If you are thinking of directing your professional life towards the blockchain, this article can be very helpful.
The cryptocurrency market is incredibly large, with a value of $191 billion, it obviously needs a large number of people to support different projects. We will see with this guide what kind of jobs we can find, which ones have the best salaries and which are the best places to start.
It is important that we analyze the market in general, which areas of the industry are growing the fastest and which skills are most in demand. Also what businesses are currently hiring and what type of employees they are looking for. All that information that will be very useful to you to get your dream job in blockchain.
We are in a time of growth where new proposals arise every day that can change the world, and trained people with a lot of will are needed to undertake these new projects.
It all started with a visionary developer who got tired of the current financial system and decided to create a solution. Thus, in 2009 Satoshi Nakamot began to work in the first job related to blockchain. This work was not very difficult for him to achieve, although it did involve a great task, that of creating the Bitcoin blockchain and thus the first Decentralized cryptocurrency.
Bitcoin was the first blockchain that allowed people to exchange their funds around the world through a network that is spread in a decentralized way. The information that is stored in the blockchain is protected thanks to the fact that there are thousands of computers that work as its nodes. ( see what Bitcoin mining is )
A peculiarity of this blockchain is that it allows any user to consult the information that is public, which means that it is not hidden on a server in a company like Facebook, Amazon or Google, which can be stolen. Bitcoin is practically impossible to hack.
In simple words we can say that Bitcoin is a safe way to store and transfer large amounts of information, such as value. Its function is also very simple, allowing users to send and receive cryptocurrencies to another.
However, the reality is that although Bitcoin has a very simple objective, Blockchain technology has enormous potential , since it can be used in different situations and provide efficiency never seen before in different industries.
For this reason, since the creation of Bitcoin, hundreds and thousands of projects have emerged from different companies and people seeking to improve services using blockchain. Digital money was one of the first use cases for blockchain, but it is only one.
Every time a new blog, exchange or cryptocurrency is created, new jobs related to this growing sector are generated. With each new technological advance, new skills are also created that are necessary for a person seriously considering their profession to learn.
Not only can we find work in Ethereum, Coinbase or Cointelegraph, there are also companies that 10 years after its invention have begun to research and develop solutions, and that need trained people. Let’s see who they are.
WHO IS HIRING FOR BLOCKCHAIN RELATED POSITIONS?
We cannot make a list of companies because it is impossible, but we can separate four large sectors of the market that are looking for new employees: startups, traditional companies, technology companies and governments.
Here come all those independent companies that have just taken their first steps in the cryptocurrency sector. A site for finding startup jobs, AngelList , lists more than 1,900 jobs at companies that have collectively raised nearly $9 billion through methods like ICOs .
These companies are run by cryptocurrency and blockchain experts and businessmen who have discovered how important the technology will be in the future and have jumped into business. This is how platforms like Augur , Monero or Qtum are created , as well as exchanges like Bittrex, Kraken and Binance.
There is also a need for other types of startups that provide various types of services, such as wallets, news sites, YouTube channels, and even education platforms. All of these with the aim of finally providing support to blockchain projects. At first these jobs may not pay their workers, but over time they can come to offer great rewards.
#2 TRADITIONAL COMPANIES
Within this group we find large banks, accounting firms and even law firms that have existed for many years. For this reason they cannot be left alone and getting on the bandwagon of a new technology is very important, as happened with the Internet.
If they don’t adapt to this new world, one that is growing faster and faster, they will soon start to go out of business. For companies that have been with us for a long time, this is something they know very well. With all the money and power they have, they can create great things if they put their mind to it.
They also have a huge reputation that allows them to hire anyone they want. What’s more, they can afford to hire a whole team of blockchain experts to develop new solutions for their needs.
#3 TECH FIRMS
Tech companies may be the most affected by a revolution like the blockchain, as their services could soon become obsolete if they do not evolve. Here we find giants such as Microsoft, Apple, Google and Facebook, where their greatest power lies in the centralization of the services they offer.
If the popularity of decentralized solutions continues to rise, users will not want to use these types of platforms again. Therefore, it is necessary for these technology companies to adapt quickly.
Many of them are already working on blockchain-related projects that can greatly benefit their businesses. One of these is Hyperledger , which seeks to provide businesses with tools to easily implement blockchain technology.
Governments have always been very inefficient machines, but necessary for the proper functioning of society. Today, many of these vitally important tasks can be solved much more efficiently with blockchain technology.
For this reason, many governments begin to hire industry experts. An example of this is the UK, where there is talk of using blockchain to manage student loan payments.
In Estonia, blockchain technology is being used to make government agencies fairer and more efficient. Projects such as e-Residency seek to create the first digital nation. And countries like Venezuela that have already created their own cryptocurrency.
All these sectors are continually creating new jobs, which need to be filled immediately by people with great skills. But what does this mean?
WHO ARE HIRED?
Blockchain technology is not something static that will not change over time, but something that evolves and that we must change together with it. Therefore an important quality for those looking for a job in this sector is to want to learn all the time.
It can be a person who comes from any field, just who has the willingness to continuously train and who is really passionate about this new technology. We can separate the candidates into two different categories:
These involve all kinds of people with software development backgrounds and engineers. Be primarily qualified in programming languages such as Java, Python, and C++. It is desirable that they have experience working in the sector, but the reality is that it is something that can be acquired if you have a good predisposition.
That is why, although to people with experience in the technology sector, cryptocurrencies and blockchain are a great challenge. They must first familiarize themselves with new programming languages such as Ethereum’s Solidity or the Ripple protocol.
Blockchain development jobs are very different from what we may be used to. Engineers and developers will perform many tasks that they would not normally do. Blockchain projects may have required research, design and construction of platforms as well as offering business ideas and future plans.
Not only people who work on the technical aspects are required. It is a business, and therefore other positions need to be filled where lawyers, accountants, public relations people, marketers and more are very useful.
In Crypto Job List there are publications that seek to fill positions in marketing, community manager, design and even for the creation of memes.
Whether you belong to one group or another, the reality is that within this sector there are many jobs available for those who are willing to learn and train in something as exciting as blockchain.
Although blockchain is seeking to make societies more efficient, and therefore eliminate jobs that would no longer make sense, on the other hand, it is also creating new jobs for them. Let’s look at sectors where these skills will be needed in the future.
The blockchain industry needs to reach new audience quotas, and for that it is necessary to create blockchain companies dedicated to different aspects. Advertising agencies, public relations firms and the media are needed in the future.
YouTubers who talk about cryptocurrencies are the first of a new crop of journalists focused on these new topics, which will become more important every day.
Blockchains will only be successful if you create decentralized applications (dapps) that people want to use. This is where the efforts of most companies will be focused on hiring capable people to develop applications for markets of enormous size. In the coming years we will see applications like Facebook but in a decentralized way.
This cannot be no man’s land, and lawyers are very important in determining how cryptocurrencies can be used. Technology can provide smart contracts for legal issues. Therefore, law firms would require experts in cryptocurrency and these would require lawyers.
Blockchains not only provide services to cryptocurrencies as we have seen, they can also store large amounts of information, which can be very useful for the supply chain industry. This can lead to new jobs in areas where efficiency creates new wealth.
The stock market in the past has grown enormously, and now the cryptocurrency market does too. Therefore, exchanges in this asset class will need all kinds of people to help them create solutions that meet the needs of their clients. Programmers, designers, consultants, security experts, etc.
There are many other growth areas, but these are the most promising. As you can see, it is necessary that in the future people be educated and qualified to be able to obtain the position they most desire.
BLOCKCHAIN JOBS: DEMAND VS. OFFER
If we look at the graph we can see that the demand for blockchain professionals has grown exponentially, as has the price of cryptocurrencies. If we take the period between November 2015 and April 2018, jobs have grown at a rate of 63%. In the United States alone, LinkedIn lists more than 2,500 blockchain jobs as a search result.
As we can imagine the vast majority of them are needed for jobs based in New York, followed by San Francisco and lastly Los Angeles. All of them very important cities in software development.
As you will see, the demand is very high, but the supply is not so high. Every day there is a need for more highly qualified people in this area, especially in the technical-focused aspects.
A tech-savvy recruiter like Toptal saw a 700% growth in the number of blockchain-related jobs posted since January 2017. Upwork, meanwhile, has said that blockchain engineers are the qualities most sought after by employers on the site.
And it is that for example Computer world estimates that there are only 250 trained software developers in the UK, who we could consider truly tech-savvy. Similar figures can be found in the rest of the world.
If we add to these statistical data the large amount of money that this industry is worth, we can see that there is a great opportunity. Especially for those who are just starting out in this world and looking to pursue a career in crypto. Also that blockchain experts can dictate their salary, the law of the market.
HOW MUCH CAN A BLOCKCHAIN DEVELOPER EARN?
What a developer earns in this sector depends a lot on their level of experience and knowledge and also where they choose to work. Let’s see how much it pays:
- Startup: These companies often attract the attention of great talent, all due to the offer of many responsibilities and also freedoms. Of course, we do not find the best salaries. In these companies, the least experienced can aspire to $50,000 a year, while those with five years or more behind them can reach $70,000. The seductive thing about startups is that some offer their employees a part of the company, so its success is closely linked to its performance.
- Traditional and technological companies: Here we find the best salaries in the market. Already the newcomers charge between $70,000 and $80,000 a year. But if they have several years of experience, it can increase to $120,000. The difference with startups makes a lot of sense according to one of the IBM vice presidents, who said that blockchain developers do not want to work in large companies, but rather in small companies that are not centralized. Therefore, it is difficult for them to hire and they must pay more.
- Governments: The salaries here vary a lot depending on the country, what you can be sure of is that they pay much less than the previous two. The advantages are that these projects can involve important information that makes the work more exciting.
As we can conclude from this section, startups pay much less, but the real fortunes do not come from the big companies. You may work for Microsoft and earn a huge salary, but you can never be the next Mark Zuckerberg.
The ideal if you are looking to work in this sector is to have some experience in computer science or software development. If not, you can always learn, here are some options:
- Blockchain degree: Some of the top universities in the world, such as Berkeley, MIT, and Princeton, have started offering degrees in blockchain development.
- Online courses: There are online courses that offer great training at reduced prices. You can find on the web courses for the most beginners as well as for the advanced ones.
- With experience: You may be lucky enough to work in a place where developments are being made with blockchain, in this way you train completely free. There are studies that say that 75% of jobs are offered to people who work within the company.
Some tips to be successful in finding a job in the crypto sector:
- Stay up-to-date: Blockchain technology changes on a daily basis. You can visit sites like Reddit and GitHub to see what’s happening in the industry.
- Be flexible: A career like this requires many skills. Maybe one minute you’re coding and the next you’re an entrepreneur. There are many things to learn and the time is now.
- Loving what you do: If you don’t feel passion for what you do, all of the above will be of no use, it would be better for you to look elsewhere and not stay here just for the money. No matter what you undertake, if you don’t love it then it will be the same as nothing.
Cryptocurrencies and blockchain are here to stay, that’s hard to argue with. It is a technology that is going to change society a lot in the future and it is necessary for people to start improving in order not to be outdated.
The reality is that the best jobs we can find in this sector are the ones we create. If you are a lawyer you can offer consulting service. If you are a developer create your own project. The possibilities are many.
Are you looking for a job in blockchain? Tell us about your experience in the comments about your skills and your quest, and if you’ve been successful too.