Why Cryptocurrency Jobs are Booming
The cryptocurrency space is booming, leading to more jobs within the digital asset market. Right now, developers and experts, specifically in blockchain technology and decentralized finance or DeFi, are in demand. The current spending on blockchain solutions is estimated at $6.6 Billion, 600% higher than last year. That might seem big, but this industry is projected to grow even further in the next couple of years. This boom has opened the job market for developers in cryptocurrency. These include smart contract programmers, on-chain analytics specialists, and cryptography experts.
Further Growth in Cryptocurrency
- In October 2021, the total market cap for the top digital assets came in at over $2.3 Trillion.
- A lot of the capital pouring into the cryptocurrency market is from financial institutions who are realizing the potential of digital currency.
- This drives entrepreneurs and others who want to get into the space and develop products/services around it.
Another sign of continued growth is the number of companies that are getting into cryptocurrency.
- There are over 6,000+ cryptocurrencies in 2021 and that number is likely to grow as more companies start creating cryptocurrency tokens for their businesses.
- These companies are and will be looking for people who have the necessary skills and want to get involved.
A Wave Of Innovation
The boom in cryptocurrency has created an industry that is bringing innovation to finance with new products and tools. One of these products is Bitcoin ATMs (BTMs).
- Bitcoin ATM machines provide consumers an easy way to access bitcoin and other digital currencies, through the use of fiat currency (i.e. cash).
- These machines are convenient and compatible with Bitcoin wallet addresses from smartphone apps.
- Another popular product on the rise include interest-bearing cryptocurrency savings accounts.
Industries that have grown around cryptocurrency operate under the regulations of the finance industry. In the U.S., companies that offer digital exchange services for cryptocurrency are required to registered with the SEC for compliance.
Studies show that the digital asset market place is on an uptrend and is continuing to grow. This will boost the number of job opportunities.
Cryptocurrency is no longer the emerging industry it once was. It has become a mainstream phenomenon that is creating further demand, expanding markets, and creating an influx of jobs.
Glossary Of Terms
- Bitcoin (BTC) – The first cryptocurrency digital asset.
- Bitcoin ATM (BTM) – An ATM that provides access for cryptocurrency wallets to buy and sell Bitcoin.
- Blockchain – A decentralized database for recording verifiable transactions.
- Cryptocurrency – A digital currency that is secured by cryptographic means and used in peer-to-peer networks.
- Fiat Currency – A form of currency issued by a government or sovereign nation which is used as a medium of exchange for payments (e.g. U.S. Dollar).