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While the United States is exploring how and in which regions Bitcoin will be a regulated asset, the job listings in the cryptocurrency space seem to be scattered across the country with no singular hub or strong concentration of crypto careers in one state or region.
According to a study conducted by LinkedIn and published by Bloomberg, over 50% of jobs listed in 2021 in the United States are dispersed across the country. Taking keywords related to cryptocurrency, such as Bitcoin, Ethereum, crypto, blockchain and Solidity, the study’s data found that three regions led the space, but the majority (53%) of job opportunities were found dispersed across the country. New York and San Fransisco stood at the forefront, given New York’s position as a financial hub and San Francisco as the concentration of the country’s technology companies and startups. Los Angeles took third with Miami and Chicago following.
The cryptocurrency industry seems to be channelled mostly into mid-sized metropolitan areas across the country. Looking at the statistics, New York hires the most with an 18.3% market share with Austin, Texas only boasting a 2% market share. However, taking population into consideration, New York and Texas both hire an average of 2.8 people for every 100,000 people on LinkedIn. The count in regions with a denser population highlights that the metropolitan areas are more focused on cryptocurrency hires.
Why cryptocurrency is best equipped for remote work
It’s extremely possible that there is no strong concentration of work opportunities in one or two regions in the United States because of a strong pull towards remote work in the space. According to Diogo Mónica, founder of crypto company Anchorage Digital, a remote approach to work in the cryptocurrency space benefits both the employee and the company. He offered that the decentralised structure lends itself to the nature of cryptocurrency work and it also means that cities and states with better taxes will attract those who operate in fully remote working styles:
“This means cities and states with lower taxes, great infrastructure, and quick access to an international airport will benefit from fully remote work.”
Which are the most in-demand cryptocurrency jobs?
According to research conducted by Monster, there are five key areas that companies are looking to hire in the cryptocurrency space. These are:
Chief artificial intelligence engineer
Engineers in the artificial intelligence (AI) space are in demand for the development and programming of algorithms that are pertinent in cryptocurrency trading bots and cybersecurity infrastructure to protect users on cryptocurrency platforms. With machine learning, security is enhanced because AI can pick up on trends regarding threats to the platform. Engineers in the fintech space also pick up on data and market trends to engineering bots that are equipped to make better trading decisions on behalf of users who trade passively through platforms.
Similar to AI engineers, software engineers are crucial in the space to build, enhance and maintain applications and infrastructure used to process cryptocurrency transactions. According to Gemini’s Jonathan Tamblyn, the director of talent acquisition, software engineers are the behind “building the backbone of the company” and that they’re “responsible for developing all the new technical products we offer our users.”
The account executive in a cryptocurrency company is tasked with overseeing the business development and sales of the company. As a business-to-business role, the account executive in a cryptocurrency company has the task of educating clients and prospective partners of the cryptocurrency space, innovative ideas that the company is offering, and current market conditions. A solid base of understanding in how the market functions and what trends are taking place is vital. It’s also important for an account executive to be able to use data to read how sales can be improved and where marketing efforts can be channelled.
Product managers are behind the research, design and launch of cryptocurrency products that are driving the future of the market. This includes platforms and marketplaces, non-fungible tokens (NFTs), anti-money laundering (AML) systems that are crucial for regulatory practices, and coded records for blockchain-based applications, such as health-care records and tracking in logistics.
According to the co-founder at Solana Labs Raj Gokal, there is a great deal of competition in the market at the moment and offering a unique product can set a company apart from the rest. As a result, having an innovative product manager can take a cryptocurrency company to a new level with strong product offerings.
Staff accountants are involved in coordinating the billing, reporting, and mandated tax filing in the region for the company. There is financial responsibility, so a strong knowledge in the legalities of accounting and finances is pertinent and insight into the growing compliance processes for the securities and exchange commission (SEC) guidelines is crucial.