How the Cryptocurrency Boom Affects Hiring in Tech

As cryptocurrency is becoming more popular and relevant, it’s important to have the best people in the business to mine, sell, and market this new financial venture. The sudden demand for these skills has led to an increase of jobs in the technology market. Even companies that are not centered in the technology industry are seeking out candidates with clear background knowledge in cryptocurrency. 

Let’s take a look at what this phenomenon is doing to the tech hiring landscape.

How the Crypto Boom Boosts Tech

According to Forbes companies like Geico, Uber, and eBay are searching for candidates with experience in “bitcoin” and “blockchain”. With this experience candidates are coming from all backgrounds into the technology job market. Candidates that have invested themselves or have a tech background and understanding of the process are becoming more sought after in companies across the job market.

Alex McClymont, a Senior Manager here at Michael Page weighs in: “We are noticing a significant increase in the volume of hiring from crypto focused organizations, with most of these companies hiring in bulk for all technology driven roles, in order to facilitate the aggressive growth plans.”

Tech jobs based around crypto require an in-depth understanding of how the “coins” are acquired and how the mining of this digital payday can be profitable for a business both now and in the long run. With the right background and knowledge, people working in tech can even advance to financial advising or other related fields. This kind of adaptability leaves the door wide open for candidates in the tech field to continue to learn and grow along with the merging technology.

Skills to Have

Back in 2020, LinkedIn listed blockchain knowledge as a new and top hard skill to have. This skill surpassed AI knowledge and even bumped down cloud computing. Understanding coding and different levels of cyber security and how to integrate them into already existing systems can have a major impact on the job market and how candidates are now being viewed and vetted. Cryptocurrency experience is one of the next skills on the list.

Tech professionals with specific hard skills in crypto are not currently easy to come by. Since the technology is so new, there are only a few really niche candidates that will be able to deliver the level of expertise. However, the skills that tech candidates already possess can often be transferred to the crypto job space. 

Data analysis skills can provide valuable information regarding how to locate and mine the currency to provide the best outcome for the business. Being able to cultivate a smooth site interface with a UX design is can also be extremely beneficial. Employers want to be able to show a good front end design to boost their exposure and create an ease of access for their users. There are also less technical roles in crypto, such as legal positions that will help will compliance within this space.

Benefits For Your Career

One of the biggest perks of learning skills in the crypto job market is the ability to constantly learn and grow. Additionally, the level of expertise needed makes qualified candidates difficult for employers to find, making the payscale quite high. Even introductory roles in bitcoin and blockchain command high salaries. 

“We are finding that base salaries are typically 10-20% higher within the crypto space than in other tech fields,” McClymont says.

An honorable benefit to this new world of tech to also becoming a pioneer into a new technology and method of creating profit and opportunity. If your role is customer-facing, you will also be directly responsible for helping people to invest in this new, developing market. Diving deeper into the tech world provides the challenge of learning something new as well as the reward of being able to get through the door first. 

Please browse our current job listings to see how we can help you find your next role in crypto, or in another emerging tech field.