these new professions in cryptocurrencies

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From crypto-trader to blockchain developer, these professions are gaining credibility ten years after the creation of bitcoin.

This Monday, March 20, the Talent Fair, a fair around new web 3 professions, will introduce Paris Blockchain Week, the flagship event on cryptos which will take place all next week in the capital. More than 1,500 people are expected from the first day at the Westin Paris Vendme hotel to discover these new professions.

Blockchain developer, blockchain or decentralized finance (DeFi) consultant, cybersecurity or cryptography engineer, data architect, social media manager, crypto asset manager, crypto-trader and even cryptojournalist. More than ten years after the creation of the Bitcoin blockchain, these jobs at the confluence of finance and tech are springing up like mushrooms.

“Overbids”

Some professions are already more popular than others, such as crypto-trader. With the crypto market never shutting down on weekends like the stock markets – crypto traders are required to be active 24 hours a day. “Many people are not able to do it. The difference with a traditional stock market trader is that he can lose 100% of his stake as the market is not regulated”, explains BFM Crypto Inti Belhassen, founder and boss of Ubiki , a company specializing in consulting and recruitment in web 3.

Having strong backs in the face of market volatility, mastering English, having technical skills: professions in cryptocurrencies “are very sought after and above all very well paid”, she specifies. In addition, the salary demands of the candidates are higher due to the lack of regulation in this sector, the workers wishing to ensure their arrears. The recruiting company saw a 30% increase in market salaries from web 2 to web 3, equal experience level.

“Companies are ready to pay for expertise. For example, we faced outbids on recruitment processes, in particular for the salary of crypto-trader. The person had started with salary expectations of 140,000 euros, the salary increasing to 190,000 euros” , specifies Inti Belhassen about a profile with 7 years of experience.

100,000 jobs

If companies hire mainly in the United States, Singapore or Switzerland, France is not left behind in this area. French crypto companies are emerging (about a hundred today), but also “crypto” positions are being created within traditional structures. According to a recent study by the Association for the Development of Digital Assets (Adan), in January 2022, 1,129 employees were employed by the main French companies in the sector, including 85% of jobs in France.

“The prospects for induced or indirect jobs based on the 600 crypto projects could make it possible to approach 100,000 total jobs in 2030”, even bets the association.

Trades are often correlated to market volatility, and in particular to periods known as bull markets or bear markets. The latest bull market, which saw bitcoin hover around $70,000 in November 2021, gave these trades some credibility. “During this period, there are companies that are emerging, needs in companies and we have an emergence of these professions”, slips Inti Belhassen.

Conversely, in a period of market downturn, layoffs can be the norm. After the cryto-crashes of May and June 2022, the biggest giants in the industry, from Coinbase to Kraken, have had to cut their workforces. Binance remains the exception. Moreover, as BFM Crypto revealed in a survey, the cryptocurrency market in France concentrates more men than women, on the front line of job cuts.

“The passion that drives them”

These professions are so specific that a question may arise: how to convert when you are a specialist in cryptocurrencies? Inti Belhassen wants to be optimistic.

“These profiles choose their opportunities according to the challenge, the sector, the passion that drives them. She.

These professions could also change in the future. “Regulation of the sector will provide more stability, with more successful projects. On the other hand, this could lower wages. Generally speaking, there would be less risk when faced with questionable companies. Because it is a reality: there are many people who are in cryptos for the wrong reasons, if we have market regulation, we may see a disappearance of fraudulent practices,” admits the expert, whose company is responsible for verifying the stability of crypto companies.

With the cryptocurrency market evolving at breakneck speed, professions that do not yet exist are yet to emerge.

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