Bitcoin Jobs rising in 2018 despite volatile market

The cryptocurrency market has been going through some volatile times as of lately and has consequently seen the billions of dollars in valuations disappear within the past 12 months. Most coins or tokens are now at or below ICO price and in addition, the rate of new ICO’s have dramatically decreased due to  an overall lack of confidence in the market and an increase in regulatory involvement and scrutiny. In addition, the lack of comprehension of chockablock technologies and how the market works, is a constant inhibitor to new users interested in entering the market.

However, despite all this, a recent report published by Glassdoor (one of the world’s largest job and recruiting sites) showed that Bitcoin (and Blockchain in general) related jobs have risen by as much as 300% from August 2017 to August 2018 and the industry is actually booming despite price deflation.

The findings of this research are indeed tremendously interesting considering the recent slump in the market and were originally presented in mid-October and covered an 18-month period from April 2017 through August 2018. Within that time frame, the number of job openings “related” to both Bitcoin and Blockchain grew almost month on month incrementally – even as the Bitcoin price began to fall after December last year. Indeed, most of these job roles and openings were being offered by some of the largest players in the industry such as Ethereum cofounder Joseph Lubin’s ConsenSys and exchange Coinbase but nonetheless, a number of other opportunities were also available with Tech companies, entrepreneurs and larger corporations simply exploring the market and opportunities but seeking to first get a better understanding.

Source: Glassdoor Economic Research (glassadoor.com/research), CoinMarketCap

Other interesting stats that can be derived from the published Glassdoor sutdy is that 19% of the blockchain job listings were for software engineers and also the average salary for blockchain-related job openings was $84,884 per year. This is approximately 61.8 percent over the US average wage of $52,461, according to Glass door’s August 2018 Local Pay Report. Indeed in the UK the market and job openings have been at a much slower pace.

Glassdoor executives when asked noted: As more employers become interested and invest in the technology, the professionalization of the space has accelerated as well. The surge in open jobs has well outpaced the 200 percent increase in value that cryptocurrencies have undergone since August 2017,”

Furthermore, there have been several other surveys and studies that have also demonstrated such growth in the recruitment market for Blockchain technologies as a survey in September, also demonstrated that the number of Asian opportunities had increased 50 percent since 2017. Feel free to also have a look at this report here.

Going forward, despite the blockchain industry, in particular, attracting mixed publicity recently, its longer-term growth seems somewhat more assured, says Glassdoor, adding:

“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.”

We’d love to hear your view so do not hesitate to contact us, subscribe to this blog for free, click here to register and download our software, send us an email at hello@cryptotaxhelper.co.uk or Follow our social media channels on FacebookTwitterLinkedIn and Instagram.

Crypto Tax Helper
Crypto Tax Helper is a UK bitcoin & crypto tax calculator. Making it easy to calculate your crypto capital gains for HMRC.
http://www.cryptotaxhelper.co.uk

Post navigation

Leave a Reply

Your email address will not be published. Required fields are marked *