According to a recent LinkedIn analysis, pointing to disruption across industries, job listings for crypto-related positions increased by almost five times in 2021 compared to a prior year.
The report stated, “Job postings with titles containing terms like “bitcoin,” “ethereum,” “blockchain” and “cryptocurrency” grew 395% in the U.S. from 2020 to 2021, outpacing the wider tech industry — which saw a 98% increase in listings during the same period.”
The report explained that most of the postings were for software and finance positions, however, LinkedIn also noted a rise in demand for people in professional services such as accounting and consulting, as well as in staffing and computer hardware.
What you should know
The report revealed that some of the most common job titles related to the crypto industry were for blockchain developers and engineers when discussing the kind of roles, the companies in question are hiring for.
Developers that are participating in the creation of Web 3, which many refer to as the next generation of the internet, reached an all-time high in January, with more than 18,000 monthly active developers committing code in open source crypto and Web 3 projects, according to a report by crypto venture capital firm Electric Capital. 65% of active developers in Web3 joined in 2021, the report shows.
Jason Lau, chief operating officer at crypto exchange Okcoin, told MarketWatch, “we’re hiring quite a bit. At last count, I think we had something like 50 open positions and it’s going to be continued hiring. I can’t understate how we and other companies are still trying to expand in this space.”
LinkedIn told MarketWatch that The San Francisco Bay area, Austin in Texas, New York City, Miami-Fort Lauderdale and Denver were the areas that had the most crypto job postings in 2021.
Companies that range from tech giants like Meta (formerly Facebook), Twitter, Amazon to Wall Street firms like JP Morgan and Fidelity have all posted open spots for crypto talents in 2021.
With the expansion of cryptocurrency exchanges across the African continent, there has also been an increase in the employment of Africans living in Africa in the cryptocurrency space.
Asides from this, many cryptocurrency companies have sprung up in Africa, especially in 2021, despite the discouragement from regulatory bodies.
These companies are also creating jobs in Africa, particularly in Nigeria and Kenya where there has been mass adoption of cryptocurrencies, particularly for cross border transactions.
The report stated, “Hiring demand surged last year amid an influx of funding. Investors worldwide poured $30 billion into crypto and blockchain startups in 2021, according to PitchBook data. At the same time, public interest in crypto exploded as high-profile evangelists like Elon Musk praised the technology—and crypto companies entered the mainstream, as evidenced by the newly-christened Crypto.com Arena in Los Angeles.”