The number of cryptocurrency jobs has almost quadrupled in the past year. What does this tell us?
Last year was a significant year not only for the cryptocurrency market, but also for the job market centered around digital assets. The number of job openings for professionals who understand blockchain and related topics increased by 395 percent in the US alone during the aforementioned period. In other words, the demand for people with a deep understanding of crypto can be clearly seen around the world. Let’s take a closer look at the situation and its importance.
We note that digital assets and blockchain are being promoted on a much larger scale than you might think. For example, at the end of November 2021, the Collins Dictionary named the top word of the previous year. It was the acronym NFT, which stands for unique, non-interchangeable tokens. Consequently, terms from the cryptocurrency world are used quite frequently – and this has a direct impact on the number of companies in the field.
Popularity of cryptocurrency jobs
According to Cointelegraph’s sources, crypto jobs have even managed to overtake IT jobs in terms of growth rate. The second niche has also shown impressive figures, but they are almost three times lower.
Crypto in 2021
What’s most interesting: the number of fields and industries where crypto specialists are now required has increased significantly. Here’s a quote from job portal LinkedIn about this, in which the platform’s representatives share the year’s results.
While the majority of job openings have been in software and finance, other industries have also seen an increase in demand for cryptocurrency talent. These include professional services like accounting and consulting, as well as the human resources and computer hardware sectors.
In other words, connecting people with digital assets can now not only bring them additional income through investing in crypto, but also provide a steady source of income through full-time employment. It's important to note here that more often than not, cryptocurrency startups and companies can afford to pay big money for workers' labour and do so. Still, finding a professional with deep knowledge of digital assets and blockchain is not as easy as in other niches.
There is every reason to believe that the trend will only gain more momentum in 2022. For example, right now, the largest cryptocurrency exchanges are experiencing a “staff shortage” – there is a huge demand for talented developers and other specialists who could satisfy the platforms’ appetite for growth. The largest US cryptocurrency exchange Coinbase alone has at least 250 open positions at the moment.
However, LinkedIn’s audience is not impressed by this state of affairs. Most of the comments on the platform’s publication were posted by critics, who noted that with the onset of a new “crypto-zima” or so-called bearish trend, the market is unlikely to be as attractive as it is for job searches. This version will likely prove true for most new projects, but serious companies with stable revenue streams will probably have no trouble surviving this trend in the future.
And it is impossible to predict the scale of the subsidence stage. For example, Bitcoin and other coins today are much more popular than in 2018, when few people knew about digital assets. BTC is now the official currency of an entire state in El Salvador – and that’s worth a lot. Therefore, it is possible that the collapse phase of the coin markets will be much milder than it was before.
We think that this trend in the labour market seems quite logical. After all, there are more and more digital asset-related companies in the world today, and the benefits of blockchain seem clear to more and more people. As such, employees' interest leads them into the coin niche, where, after a few months of detailed study and interaction with it, they may well qualify for some positions. Obviously, this trend will get stronger over time.
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