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Cryptocurrencies Creating More Job Opportunities

Samantha Mitchell

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crypto

A recent study by Glassdoor has established that more companies in the Crypto sector continue to create employment opportunities around the world. According to the California-based company, the demand for Crypto-related jobs in the US increased by 300 percent this year compared to last year. The study has established that the sector has a higher median salary than the American median salary. Most of these positions are engineering-related.

More Employees Needed In The Crypto Sector

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Glassdoor, through its economic research department, has carried out research on online job postings to establish any changes due to Cryptocurrencies. The company established as of August 2018, there were 1,775 job opportunities that contained terms such as “blockchain” “Cryptocurrency” and “Bitcoin” in the US. This is a 300 percent increase bearing in mind that there were only 446 ads in the same field at such a time last year.

The study also involved other countries in Europe, Americas, and Asia. The researcher found that London tops other cities outside the US with 189 job opportunities. This demand can be explained by the soft stance the UK has taken with regard to Cryptocurrencies allowing various businesses in the sector to operate from the country. Singapore, Toronto, and Hong Kong are other important cities where there is a high demand for labor in the Crypto-related sector.

High Salaries In The Crypto Sector

The researcher also collected data on the level of salary offered by Cryptocurrency firms. The study established that the sector offers a wide range of jobs that vary in responsibilities and salaries. Those working in the sector earn as little as $36,046 and as much as $223,667 per year. The study also established that the sector has an annual median salary of $84,884, which is higher than the American median salary which is around $32,423.

The study established various factors to be responsible for the high salaries in the Crypto sector. Location was one of the most important factors with companies in costly cities such as New York being forced to pay high salaries. The other factor was the nature of the job with businesses forced to pay high salaries to software engineers as they are always in demand.

Engineering Skills Essential In The Crypto Sector

Glassdoor also collected data on the type of skills on the highest demand. Generally, software-programming skills appeared to be the most sought after in the sector. About 55 percent of all job opportunities in this sector were engineering-related according to the research. The study established that most ads (19 percent) required software engineers. Other specialized positions that are popular in this sector include technology architects and front-end engineers.

The growing number of job opportunities in the Crypto sector is an indicator that the sector is growing every day. Blockchain has numerous areas of application and companies around the world are looking at ways they could use it to enhance efficiency. As more regions are allowing Cryptocurrencies, the demand for job opportunities in the sector will only surge with time.

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