Cryptocurrencies are a relatively new phenomenon, but they’ve become ubiquitous in the digital economy within just a few years. With more and more businesses accepting Bitcoin, Ethereum, and other cryptocurrencies as payment for goods and services, it is only natural that this growing industry would need dedicated workers with various skill sets.
If you’re interested in entering the world of cryptocurrency jobs but aren’t sure where to start, this article will help guide your career path by detailing some of the best jobs.
A cryptocurrency trader makes money by buying and selling cryptos on exchanges, trading platforms, and brokers.
Like stock traders, they often use technical analysis and fundamental analysis to determine the right time to buy and sell digital currencies to make a profit. They can also set up their trading strategies and risk management techniques. Many crypto-related jobs require mastery of these skills.
Popular cryptocurrency exchanges include Binance (BNB), Coinbase (COIN), Kraken (KRAK), Gemini (GEMI), Bitstamp (BSTP), Kucoin (KCS), and Poloniex (POLO).
Other popular cryptocurrency trading platforms include Cointracking, Delta Direct, Blockfolio Signals, CryptoHopper, and Cryptohopper. In addition, cryptocurrency brokers have eToro (ETC), Robinhood Crypto, Hummingbot, Shrimpy, Bitsgap, and Quadency.
Another notable mention is OKX, a cryptocurrency exchange, a Seychelles-based exchange where the trading fee is relatively low.
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If you’re interested in learning how to develop smart contracts and become a blockchain developer, there are some programming languages you should get familiarized with. These include Solidity (used on the Ethereum platform) and Simplicity. You’ll also want to choose a framework, like ConsenSys or Truffle Suite.
According to Indeed.com, blockchain developers’ responsibilities could include creating tests and designing and deploying new blockchain applications. Also, it includes setting up clients (including integrating them with security tools like wallets), developing smart contracts, and writing chaincode/C++ code for the Hyperledger Fabric platform.
On LinkedIn, job postings for blockchain developers list possible roles such as technical lead within a cryptocurrency development team or software engineer in one of several new startups working with crypto technology.
Other employers looking for this particular skill set include CitiBank, TATA Consultancy Services LTD., Intel Corporation, and Microsoft Corp. According to Glassdoor’s estimates, average salaries for these roles range from $85K-$150K per year (taken from June 2019 data).
As a cryptocurrency miner, you will be helping to validate transactions on the blockchain and add them to the ledger. It solves complex mathematical problems with your computer. If your solution is correct, get a reward with a small amount of currency for the work you have contributed to the network.
Unfortunately, as cryptocurrencies become more popular, the complexity of these math problems will also increase. To mine effectively and profitably, you will need increasingly powerful computers and hardware.
It may also mean that mining from home becomes less profitable or obsolete as companies start building large mining farms to keep up with demand for transactions.
There are many kinds of jobs you might do in this industry, but every cryptocurrency business needs a writer who can explain blockchain technology to the public.
So if you already have a good grasp on what makes this industry tick, or if you have some writing experience under your belt, this could be the job for you.
For this gig, it’s ideal to have some familiarity with how blockchains work and the issues they address. If not, it’s still possible to get by just by using Google to research and learn more about the tech as you write about it.
However, having some background knowledge will help your work stand out. In addition, you need to decide whether you want full-time employment or a part-time job (with multiple companies).
Blockchain UI/UX Designer
As a blockchain UI/UX designer, you’ll probably assume what you’d probably do. You’ll be working to make using the blockchain experience as sleek and efficient as possible for users. While it’s true that the infrastructure of the blockchain is secure and trustworthy, it can still be pretty confusing to use.
A great UI/UX designer will understand how to take a potentially overwhelming system and make it seem simple and intuitive. Cryptocurrency Magazine wants a few more of those designers on our team!
You may be wondering: how can I become a great blockchain UI/UX designer? What are the excellent attributes that make someone employable in this field? The answer is: we don’t know yet! Blockchain is such a new industry that many professionals who work in it are pioneers in their fields.
As long as you’re open-minded, willing to learn, adapt quickly, and have some experience designing interfaces (or have an eye for design), we think you could have what it takes!
If you’re looking to work in the field of cryptocurrency, working as a blockchain analyst is one of the best options for you. It’s a lucrative job that doesn’t require the same amount of education and experience demanded by other positions.
Additionally, there aren’t many people qualified to work as blockchain analysts because it’s such a new position, so demand is high. Therefore, your employment prospects are pretty good if you have even essential experience with cryptocurrencies.
Blockchain analysts help companies set up their systems to process cryptocurrency payments, analyze data gathered through the company’s products or services, and interpret that data to improve their business operations.
Suppose you decide to become a blockchain analyst. In that case, you need at least some technical knowledge about how blockchain works. For example, different cryptocurrencies operate within the industry.
How do private keys function and why is there a requirement for transactions involving these currencies, and what types of risks (cybersecurity issues) are most common so that you can mitigate them for your clients.
As far as career advancement goes for this position, it will probably depend on whether any new regulations come into effect regarding cryptocurrencies in the foreseeable future.
You may need to test yourself against stricter regulatory standards if those regulations do go into effect or move from this career path to another related area after reaching a certain level of seniority.
Smart Contract Engineer
While the concept of dApps and decentralized exchanges can be confusing at first, smart contracts are a little easier to understand. Think of them like vending machines: you put money in and get something out. Smart contracts are essentially that same concept but on the blockchain. It’s commonly utilized for token sales like ICOs and IEOs.
You put cryptocurrency in the smart contract; it verifies that you sent the correct amount and then sends you tokens back. In addition, smart contracts are used for other applications such as decentralized exchanges like Uniswap or Kyber Network.
In this case, they take your cryptocurrency and send it to another person’s wallet automatically when they agree to pay a specific price.
What is an initial coin offering (ICO) advisor, and what does an ICO advisor do? An initial coin offering (ICO) is the cryptocurrency industry’s rough equivalent to an IPO. It offers a way for a blockchain project to raise capital through crowdfunding. In exchange for contributing money, investors receive tokens from the startup.
An ICO advisor is similar to a venture capitalist (VC). A VC offers funding and advice to startups in return for equity or other considerations. An ICO advisor performs much the same function but specifically for companies raising funds via an ICO rather than a traditional round of venture financing.
As with a VC, skills, and experience are required for a successful ICO advisor profession, who must advise startups on how much they should be raising their funding rounds, how long they should stay open, and which type of token sale structure to use.
You will also help them create the white paper and all other documentation associated with the token sale.
This documentation must be clear to inform potential investors about your client’s business model properly, mission statement, team members, and overall investment risk assessment.
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Cryptocurrency Jobs Are Much Diverse Than You May Think!
The crypto industry is a growing and increasingly diverse field. Various new jobs are being created daily to meet the insatiable demand for blockchain development, security analysis, and cryptocurrency trading.
If you want to join the party, there’s a lot of opportunity for making money.