Digital assets are now a $2 trillion global industry. However, much of its growth was experienced in recent years, which is why the sector still faces an acute shortage of talent. Blockchain startups and tech giants are struggling to hire people with the right skills to scale up their decentralized projects.
If you’re looking to switch careers and boost earnings, this could be the perfect time to consider the digital assets space. Here are some of the top skills you’ll need to break through.
Designing decentralized platforms or creating smart contracts is still a niche skill. Most experienced software engineers and coders can break through with traditional programming languages like Python, but smart contract languages, such as Solidity, could give you a tangible advantage in the crypto job market.
Digital assets are a data-rich sector. Since every transaction and action is recorded on the distributed ledger and made publicly available, there’s plenty of granular data available for analysis. However, making sense of the data through sophisticated tools is a rare skill that’s in high demand across the sector. The base salary for such a role in the U.S. is roughly $95,000 per year.
Security vulnerabilities are, perhaps, the biggest concern for mainstream users who haven’t fully embraced digital assets yet. Decentralized exchanges getting hacked, crypto rug pulls and smart contract scams have cost regular investors millions of dollars in losses. Detecting and eliminating these vulnerabilities is a critical skill that’s in acute shortage across the sector.
An experienced security architect could earn roughly $125k. The best of the best could make $200k in this role.
Legal & Compliance
As the digital assets sector matures, it captures the attention of regulators and lawmakers. Some countries have banned cryptocurrencies altogether, but most others have attempted to regulate these assets and tax them appropriately.
These laws and rules are relatively new, which is why there’s growing demand for legal and compliance professionals who understand the nascent sector. Experience with Anti-Money Laundering (AML), Know Your Client (KYC), international tax treaties and wire transfer regulations could land you a lucrative job at some of the biggest crypto firms.
Since 2020, capital from institutional investors flooded into the sector. Digital assets are now held by a handful of publicly-traded companies, the portfolios of wealthy family offices and the coffers of at least one sovereign nation. It is now a bonafide financial asset, which means it needs financial analysis and price prediction models.
Hedge funds and investment firms have been increasingly seeking out financial analysts with a deeper understanding of digital assets. The typical Wall Street analyst can earn roughly $62k, but crypto analysts could potentially earn much more based on the rarity of their skills and expertise.
Community is a key element of every blockchain project. None of the decentralized tools work if there isn’t a group of holders, validators and users who dedicate time and resources to it. That’s why digital marketing, growth hacking and community building are highly-desired skills in this sector.
The typical crypto marketing professional could earn between $80k to $180k depending on experience.