Blockchain and Crypto Jobs in the Tech Industry: Is It Right for You?
Bitcoin went live in 2009. When it first began trading in 2010, one Bitcoin was valued at less than one cent. In April 2021, it peaked at almost $65,000. There's no doubt that cryptocurrency has come a long way. While this is great news for investors who got on board in the early days, many people still don't recognize how the rising interest in cryptocurrency and blockchain affects the hiring market. As cryptocurrency and blockchain (the technology behind cryptocurrency) mature as an industry, available jobs related to the technology are skyrocketing.
The Changing Job Market in the Crypto Industry
As cryptocurrency becomes more mainstream, companies across various industries are preparing for the future. Cryptocurrencies are worldwide digital currencies that can be spent globally, and currently don't rely on the banking system. Since this currency is stored in digital wallets and is traded virtually, its market is open 24/7, and crypto can be traded around the clock. While the recent attention to crypto may seem sudden, the development stage has lasted over a decade. Yet, the industry is still considered in its infancy, leaving a critical skills gap that organizations are rushing to fill.A recent analysis from LinkedIn revealed that job postings with titles containing terms like bitcoin, Ethereum, blockchain, and cryptocurrency grew 395% in the U.S. from 2020 to 2021. The report goes on to note that most postings were in software and finance, but other industries are also seeing a rise in demand for crypto talent.Major Wall Street banks are joining the industries beefing up hiring for digital asset teams. JPMorgan Chase, Morgan Stanley, and Goldman Sachs are among the firms with dedicated groups for cryptocurrency. Several other banks (including Wells Fargo, Deutsche Bank, Capital One, Bank of America, and more) are following suit as the pace of crypto job hiring jumped by 40% in the first half of 2021.
A Variety of Jobs in Cryptocurrency and Blockchain
Research from Indeed revealed that nearly 30% of all crypto and blockchain job postings are in software development. However, many other sectors are increasing opportunities as well. Industries noted include:
- IT Operations
- Human resources
- Industrial Engineering
Roles within these sectors provide ample space for variety as well, including positions of:
- Executive Assistant
- Project Managers
- Data Analysts
- Product Designers
- Community Managers
- Tech Recruiters
Trends in Crypto Hiring
When it comes to hiring professionals or seeking positions in this bold new industry, competition will continue to grow. As the hiring market remains competitive, job seekers could be in a position to field multiple offers. These are a few hiring trends that stand out in the cryptocurrency and blockchain industries.Upskilling PotentialSince cryptocurrency is still an emerging industry, many companies find it difficult to find applicants with relevant work experience. It's no secret that an overwhelming list of requirements can considerably limit the talent pool for any position. This can make filling jobs in a lesser-known industry even more difficult. As a result, companies that can attract tech-based professionals have the opportunity to promote upskilling and learning development opportunities many employees are seeking.A Disturbing Gender GapWhile the rise in popularity of crypto has created a new market of jobs in the digital finance industry, there is a notable absence of women in these occupations. It's likely the lack of women in crypto professions stems from the lack of investors, considering only 10% of women have used cryptocurrency and just 15% of Bitcoin investors are women. However, it's not too late for women to work toward these exciting roles as more become available each year.Remote Work OpportunitiesIn June 2021, 36% of all crypto and blockchain job postings specified remote work. In the software development sector, the share was 44%. According to Pew Research, 59% of U.S. workers who say their jobs can mainly be done from home are working from home most or all of the time. This is good news for workers hoping to take advantage of WFH perks like more geographically diverse opportunities. Although crypto jobs tend to be more populous in specific areas like New York, Los Angeles, Austin, and Miami, remote workers have the potential to be considered for positions in a variety of areas.
Developing Companies and Top Talent in Exciting New Industries
For companies investing in the use of new technology, and job seekers embarking on exciting new careers, cryptocurrency and blockchain present a bold new frontier for change and growth. The need for blockchain and crypto talent is expanding across industries, creating the potential for competitive hiring and increased interest in evolving companies. While there is no way to predict the full potential of cryptocurrency, the job market surrounding the industry is heating up in many sectors. At Career Group Companies, we are experienced in staffing within the tech, finance, crypto, and blockchain industries. Our recruiting professionals have developed long-term relationships with high-performing companies and top talent to nurture company and individual career growth. Through these relationships and our individualized approach to matching qualified candidates with successful companies, we are in a unique position to generate career matches that benefit both parties. If you're interested in a position in the cryptocurrency and blockchain industry, find work with a top company that values your experience and skill set. For many companies, sourcing talent in the competitive hiring market presented by the crypto and blockchain industry will be a challenge. When you partner with Career Group Companies, you can choose from highly qualified candidates not found on traditional job sites or hiring pools. We make it our mission to match you with top-tier talent that fits seamlessly into your company, while adding value to your business. Partner with Career Group Companies to hire talent in the blockchain and crypto roles you need to fill. Contact us to learn more.