Crypto accessories trader: “We offer the best salary, the best quality of life”

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Please have mercy on the established crypto trading houses. As the market explodes, everyone is angry with their staff.

Jump Trading is building their crypto accessories trading team (and has hired someone specifically to do the recruiting). The same goes for Tower Trading Group. Established crypto players are perfect hunting grounds.

One of those established players is Dexterity Capital, a high-frequency algorithmic trading firm focused on digital asset markets formed in 2017. As the market for crypto talent heats up, founding partner Michael Safai said that its intention is to be the best employer in the crypto market.

“We strive to stay at the top of the market in terms of compensation and quality of life,” says Safai. Dexterity allows people to live and work where they want (they just have to come to the office once per quarter); he remunerates his traders “very generously” according to the increase in their transactions; and he pays new junior hires like Jane Street, who is notoriously one of the top payers in the business.

Like Jane Street, Dexterity’s ability to offer premium compensation is linked to the fact that it does not offer this compensation to many people. – Despite making $ 100 to $ 200 million in transactions every day, it employs just 13 people, spread across London, Seattle, upstate New York, and São Paulo. A few are in commercial development. Most are traders or engineers. Up to four new hires are expected in 2022.

Safai says that a high salary, the ability to work anywhere, and the promise that your life will not be entirely subsumed by work are not the only elements of Dexterity talk to employees. There is also the possibility of solving extremely difficult conceptual challenges. “If you are smart, you work hard, you are a kind person, and you like to solve very difficult problems, I don’t care where you come from,” he says. “We are native to crypto. Our thesis is that to really be successful in crypto, you don’t need TradFi experience.”

Safai cut his teeth in California after graduating in astrophysics and economics from the University of Berkeley. “We’re west coast start-ups,” he says, although he now lives in Notting Hill in London and laments the cold.

Safai says that Dexterity hires pure engineers (their platform is built on Java, although any object-oriented language is acceptable), and that it hires algorithmic traders who can code. Crypto is particularly suited to problem solvers, he says, “There are new problems and new products in crypto. The problems are much more complex than in traditional finance, and people haven’t tried to solve them for the past 30 years. ”

These issues include things like perpetual trading and issues with multiple trading platforms and the mechanics of erratic trade flows. The universe of people who can tackle it is limited, although many people would like to. – Safai says Dexterity receives 50 to 100 applicants per month although his roles are not really advertised. “I see a lot more applicants from traditional trading houses trying to get into crypto,” he observes.

Photo by Pedro Menezes on Unsplash

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