Salaries in the Crypto Space: Should You Quit Your Job For a Blockchain Career?

The crypto space offers numerous ways of making extra money on the side – from speculation to staking and mining, there are a lot of possibilities. However, the only safe and proven method to get wealthier is to find a job in the industry. 

You might have heard that blockchain salaries are generally higher and the need for skilled employees is unprecedented. But is this really the case?

Blockchain Developer’s Salary

When it comes to paychecks, blockchain software engineers are among the most high-paid IT specialists. The reason behind this is obvious: in the crypto space, the demand for talented professionals is exceeding the supply and employees are generous with their money. Finding a knowledgeable blockchain developer takes a tremendous amount of time as they are as rare as unicorns. 

According to Glassdoor, the average yearly pay of a blockchain developer in the US is between $144k and $156k whilst at the same time, a regular software engineer makes roughly $92k. San Francisco, the home of numerous crypto and other IT startups, along with New York City boasts more job openings and generally higher (over $160k) blockchain salaries. 

The average crypto developer’s salaries in Asia and Europe are also among the highest ones on the tech market with $87,5k and $73,3k respectively. A blockchain engineer in the UK can expect a £68k yearly income. Apart from that, there’s a growing number of remote blockchain jobs that offer equally impressive compensation depending on your skillset. 

Keep in mind, that your skill level plays a key role in your final compensation package. Junior blockchain developers typically assist their more experienced colleagues and take care of debugging, mobile app fixing, and building APIs before they get to do the harder tasks. If you don’t have extensive expertise in the field, aim for the lower end of the wage rate. 

However, software development is not a craft one can easily pick up – you will need at least a few years of studying, practicing, and further training. If you’re lacking time and dedication, the best thing you can do is choose a different path. 

Crypto Trader’s Salary

Since technical jobs aren’t for everyone, some people decide to enter the industry as cryptocurrency traders. If you also think that trading is the fastest way to getting your first Lambo, you might be disappointed. 

First off, forget about salaries. A crypto trader’s salary is basically what they managed to earn in a day. Although investment banks and hedge funds do hire forex traders, cryptocurrency traders typically work for themselves. 

Besides, trading is also a skill and a very sophisticated one. Don’t expect to learn a few key tricks in a month. You will have to spend a good amount of time (years, probably) before you make sense of technical analysis, come up with a set of solid strategies, and start making decent money. Or you never will. They say, in trading, the failure rate is close to 95%.

Other Blockchain Jobs and Cryptocurrency Salaries

Blockchain and crypto analyst’s salary –  with over $111k annually on average – is also among the highest ones. If marketing is your forte, and you can explain in easy words what a hash rate is, expect to get anywhere from $67K to $128K per year. Blockchain community managers – specialists that are really hard to find – are earning up to $90,000. And it’s a perfect kick-start position to showcase your strength areas and get big in the crypto space.

Cryptocurrency freelance jobs – usually copywriting or design – are compensated on an hourly basis. Here’s a tip for you: look for the gigs on your regular freelancer websites rather than on specific cryptocurrency platforms. The wage rate will probably be the same, but you will find a lot more offers.

Tips On Getting a High Crypto Salary

There’s no lack of crypto enthusiasts dreaming of landing their very first blockchain job with a decent salary, but only a few of them succeed. We’ve gathered a few universal tips to help you with boosting confidence and push you to get going.

Enroll in a Blockchain Course

Since a blockchain expert’s salaries are typically higher than the salaries of other tech workers, it might be a good idea to enroll in a course and learn more about the cryptocurrency space. Once you understand the basics, it will be easier to start your career in a blockchain firm. Not to mention that recruiters will appreciate your effort. 

Combine Your Professional Skills With Blockchain Knowledge

If you’re an expert in your field – be it marketing, design, or business development – you already have a headstart. Skilled professionals are always in-demand. Pick a few crypto companies that you want to work at and reach out to them even if they don’t have any job opening that fits you. Not only will it help you to gain more confidence, but also give you a chance of getting noticed. 

Come Up With a Job

If you cannot find a blockchain job that matches your skillset, create one yourself. Aim at startups, do your research, and think of a way how you can help them grow. Set up a call with one of the founders and discuss your ideas (but make sure they are good). Confidence and courage are often rewarded. 

The Bottom Line

When comparing blockchain salaries with other tech-related salaries on the market, one can quickly spot the obvious benefit. Blockchain experts are hard to find and employers are ready to dip into their pockets to get a highly-qualified employee. At the same time, candidates should be mindful of the fact that the crypto job, just like any other job, requires dedication and eagerness to never stop learning and self-educating. But once you do put in enough effort, the compensation won’t disappoint.