Bitcoin and cryptocurrencies caught our attention with their incredible gains and created new millionaires and billionaires. There is also talk of recent sales in Bitcoin, along with the volatility associated with the purchase of digital assets and other cryptocurrencies. What is not talked about is the serious need for top talent to work in these fast-growing companies.
The US economy and job market have rebounded. Many businesses, from small restaurants to investment banks, seem to be in a heated battle for talent. Companies complain that they can’t find enough skilled workers to meet their needs. The lack of an experienced and skilled workforce is particularly problematic for the fast-paced crypto industry. Exchanges need highly specialized professionals in many fields, from software engineers to lawyers.
According to Bloomberg, crypto firms are struggling to find talented candidates for thousands of open positions worldwide. As it is still an emerging industry, the nature of most job postings does not have enough job seekers with five or ten years of experience to be in demand. While many are fascinated by the field, others shy away from crypto because these people fear the unknown and seek career security.
Cryptocurrency companies are on the hunt for talent
With cryptos becoming mainstream, there has now been intense competition between big banks, investment banks, hedge funds, FinTechs and various other financial institutions. Apple, Facebook, Square, Tesla, MicroStrategy and other tech companies want to get involved or are already taking action. Even El Salvador has made Bitcoin a legal medium of exchange. Numerous job postings seek software developers and engineers and are in high demand everywhere.
F. Ehrsam, co-founder and managing partner of cryptocurrency investment firm Paradigm, claims in an interview with Bloomberg that the crypto industry has the potential to create more jobs online.
If you do a quick search on Indeed.com and LinkedIn’s job board, you’ll see thousands of postings for “Bitcoin”, “Cryptocurrency” and “Blockchain” related positions. In an article, author Sarah Butcher shares some crypto companies that are recruiting with stunning speed and appetite. Recently, the US-based cryptocurrency exchange Coinbase has been making transfers from investment banks such as HSBC, Barclays, and JPMorgan. At the end of last year, Coinbase employed 1,249 people worldwide.
Binance is one of the largest cryptocurrency exchanges in the world. Binance currently has listings for over 350 positions worldwide. Job postings are sought after by software developers, data scientists, lawyers, marketing and human resources professionals worldwide. BlockFi is a ‘crypto management platform’ that conducts crypto transactions, pays interest on cryptocurrencies and offers crypto loans as collateral, and is currently recruiting 100 international people, including both in-office and remote options. It is possible to multiply examples.