Could You Work in Crypto?

5th May, 2021
Could You Work in Crypto

While the recruitment market may have shifted during the Covid-19 pandemic, there are plenty of reasons to get excited about the emerging cryptocurrency field. From engineers to journalists, this booming industry is calling for a variety of skills as growth accelerates. Here we take a look at why contractors should strike the crypto market while the iron’s hot!

What is Crypto and the Blockchain?

Cryptocurrency is a digital currency. Unlike traditional currency, it isn’t backed by a government or bank. Instead, it’s tracked and traded on a public digital ledger known as the blockchain. Blockchain is like digital bookkeeping, but it records transactions without any human interaction. Blockchain is the most in-demand skill in the United Kingdom, United States, France, Germany, and Australia.

Why Crypto?

While blockchain technology has the potential to be used across many industries, the crypto market remains one of its leading areas of application. With the current hiring boom, this will be one of the first areas to gain traction.

Companies such as Visa, Microsoft and IBM are among the big names hiring crypto roles. In addition to large corporations, cryptocurrency startups are currently hiring in record numbers due to the massive amounts of funding they’re acquiring. Pay rates for crypto start-ups beat industry standards by a substantial 10-20%.

While start-ups often start off with small teams, they have massive growth potential, giving contractors the opportunity to work in a niche area right at the very beginning.

If you’re looking to get into the digital nomad lifestyle, there are many remote positions available compared to other industries. This is ideal for contractors who want to maintain an independent schedule.

What skills are needed for cryptocurrency?

The first step is simply being familiar with cryptocurrency, the technology that powers it and the terminology. What companies look for in new hires is first-hand experience like interacting with the blockchain and trading in cryptocurrencies.

Whether you’ve been investing personally, running your own mining rig, or reading up on blockchain technology, if you’re going into crypto, it’s something you should be enthusiastic about. A course like Princeton’s Bitcoin and Cryptocurrency Technologies on Coursera is a good place to start.

As you might imagine, tech skills are useful when looking to land a role in cryptocurrency, as many job listings call for hard skills, including Java, machine learning and Python. However, there’s a lot of room for individuals with soft skills in non-technical roles, so make sure you indicate these on your CV. Companies look for communication skills, creativity, and problem-solving, and for candidates who are entrepreneurial, self-motivated and team players.

What kind of jobs are there in cryptocurrency?

There are crypto-focused roles for traders, sales associates, writers, DevOps engineers, consultants and technical product managers to name a few. A good start is simply having a background in the kind of work you want to do. If you want to be a blockchain developer, holding a standard developer role first will make you an attractive candidate. If you want to be a cryptocurrency project manager, have project management experience to show.

These jobs may entail working with a currency that’s already been built, or they may be an ICO (Initial Coin Offering) project where team members build an entirely new currency using blockchain. Here are some of the roles currently needed in Crypto:

  • Business development representative

Cryptocurrency is creating new business opportunities across multiple industries, so there’s a need for people to seek these out and close deals. Business development representatives should have some sales experience and good communication skills.

  • Financial analyst

Hedge funds, insurance agencies and individuals looking to invest need analysts to predict the crypto market. The role involves recommending investments, developing strategies, evaluating risks, and maintaining investment portfolios.

  • Content Writer

Content writers produce industry-specific content for websites, guides, newsletters and social media. On top of good writing skills, you’ll need at least an understanding of how blockchain technology works.

  • Marketing manager

Marketing managers estimate the demand for cryptocurrencies and blockchain and compare values. They identify potential users, monitor trends, and develop strategies to help maximize profits.

  • Security architect

Although cryptocurrency is much harder to hack than traditional payment systems, security architects are still needed to create systems to protect the company’s technology from outside threats such as fraud.

  • Cryptocurrency Trader

A crypto-trader is someone who profits from short-term changes in the market price of cryptocurrencies. The goal is to buy when prices are low and sell when they rise. A strong interest in financial markets and cryptocurrency is desirable. Roles are often remote and commission-based, requiring a high level of self-motivation.

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