A brief history of the crypto-jobs
Bitcoin is no secret, everyone is well aware of the term cryptocurrency now. Bitcoin’s founder is unknown, however, it is obvious that someone coded the world’s first and most expensive cryptocurrency. After Bitcoin started gaining attention and value and crossed the $10,000 mark in 2017, a lot of people coded their own cryptocurrencies in hopes of becoming the next Bitcoin.
Others hired software developers or software engineers to program the cryptocurrency for them according to their specific requirements. Either way, the demand for software developers who knew the blockchain tech inside-out was significantly rising. The United States where the technology world is rapidly progressing witnessed over 7.10 million unfilled jobs in August.
The unfilled jobs are mainly due to the boom the economy is currently facing. According to the popular job-website Glassdoor, there has been a 300% increase in the jobs related to cryptocurrency and the blockchain tech in the past 12 months. Another reason for this increase is the Bitcoin madness from 2017 and early 2018.
If we take a look at the old statistics of the cryptocurrency jobs then we can clearly see there has been a sharp rise in the demand for blockchain developers. During October of 2017, there was a little over 440 jobs. During early 2018 it rose to a little over 690 jobs and during the August of 2018, there were a little over 1,770 unfilled jobs related to blockchain and cryptocurrencies.
The bearish cryptocurrency market
The all-time high price of Bitcoin was about $19,000 which was back in December of 2017. Since then the market has only witnessed a downfall, although the price did rise back up during early 2018 the market has been mostly bearish. Something which a majority of investors don’t understand is that the crypto market is not only highly volatile but also highly interdependent.
The term interdependence here means that the prices of almost all other Altcoins other than Tether USDT (which is a stable coin fixed at $1 as they claim that every Tether USDT is backed by a dollar in their reserves) are dependant on Bitcoin’s value. So if the price of Bitcoin rises then the prices of all these Altcoins also rise and vice versa.
The increasing demand for Blockchain developers is a sign that there’s still a good amount of consumer confidence in the cryptocurrency world. This is because even though the crypto market has been very bearish all year around, well-established companies, as well as small tech startups, are hiring cryptocurrency and blockchain developers.
A report stated, “While the ultimate staying power of cryptocurrencies and blockchain technologies remains to be seen, the blockchain job market seems primed to continue its rapid growth into the near future.”
Talking about blockchain jobs, although the highest paying blockchain job pays is a little over $220,000. The basic pay for a blockchain developer is $84,884 which is above average. Surprisingly, about 25% of these jobs aren’t found in the famous Silicon Valley or Los Angeles instead its found in New York.
If you are a computer science graduate this might be the right time to step into the blockchian world because they are in high demand as of 2018.