Click CTRL+D or CMD+D

Boom in Crypto Salaries ? Popularity for Accepting Salary in Cryptocurrency is Staggering

Boom in Crypto Salaries ? Popularity for Accepting Salary in Cryptocurrency is Staggering

Kavya Barua

Kavya Barua is a voracious learner captivated by crypto and Fintech breakthroughs. Graduated from the University of Delhi's B.A (Hons) English program at Janki Devi Memorial College. She desires to be a successful professional with a strong interest in learning and accomplishing outcomes.

Table of Contents

Blockchain technology has been around for a decade and its popularity has increased exponentially. They are now finding applications in business, and several firms are currently recruiting for decentralized technology specialists; and paying their salaries in crypto. 

What Are The Career Opportunities In The Blockchain Sector?

The most recent technological advancements are gradually opening up new, exciting, well-paying professional prospects for tech-savvy individuals everywhere. Blockchain technology is considered as one of the most modern, intriguing, and promising technology businesses and is emerging as a top career option.

Before the creation of Web 3.0, the internet-driven by the people was simply a myth, but today, with the introduction of the decentralized factor and P-2-P facilities; it sounds true. Blockchain technology has advanced so quickly that it has become the trendiest employment skill worldwide in the working industry.

One of the highest-paying careers in the blockchain industry is blockchain project manager. Project managers’ role is to translate a company’s demands from ordinary English to technical language and then blockchain developers’ language to everyday speech. 

Some of the most frequent careers in the blockchain area include blockchain quality engineers, blockchain developers, legal consultants or attorneys, web designers; and blockchain engineers.

Meanwhile, the cryptocurrency market in India is experiencing both highs and lows. However; Finance Minister Nirmala Sitharaman announced on February 1 that India’s first digital currency will be offered to Indian investors soon which will be based on blockchain technology. 

Sitharaman indicated in her fourth Budget that the Reserve Bank of India (RBI) would issue digital currency around 2022-23. She also stated that it would have a substantial economic impact.

According to the 2021 Global Crypto Adoption Index, India ranks second in cryptocurrency  adoption despite these regulatory difficulties; after only Vietnam. The Indian cryptocurrency sector will be worth $241 million by 2030.

Accepting Salaries in Crypto Appears To Be On The Rise

As mentioned above, blockchain jobs are the hottest IT career skill right now. Due to the limitation of experienced workers; it is unsurprising that compensation for blockchain specialists is frequently more remarkable than in other fields of competence. 

BuyUcoin mentioned earlier, LinkedIn’s statistics show crypto-related job postings for 2021 surpassed all other prominent IT and tech employment categories; symbolizing significant potential disruption.

When Bitcoin and Ethereum surged to all-time highs in November on rumors of widespread adoption; politicians and sports rushed to capitalize on the hype by saying they’d be receiving a portion of their pay in cryptocurrency.

After his election, New York City Mayor Eric Adams promised that he would accept his first three paychecks in Bitcoin; and Odell Beckham Jr. chose to take his full NFL salary in Bitcoin after signing a new contract with the Los Angeles Rams.

On the other side, India is currently doubtful about a regulatory framework for cryptocurrencies; which means they are neither legal nor illegal. Many young crypto enthusiasts and freelancers accept crypto salaries due to the simplicity of moving it across borders and reduced transaction fees compared to bank transfers.

A developer from Gurugram, for example; was paid by a Singapore-based crypto transaction infrastructure company. He stated that he has a verbal contract with the organization and transforms his cryptocurrency pay into rupees via peer-to-peer trade inside India’s crypto ecosystem.

According to the IT industry body, the CryptoTech Industry; which includes crypto applications in trading, P2P payments, remittances, and retail, has grown by 39% in India over the last five years. The CryptoTech Industry in India can add $184 billion in value over the next nine years until 2030.

RECOMMENDATION

All Articles

SEARCH

Get Free Bitcoin on Trading

Join BuyUcoin Trade & Win up to ₹100 Worth of Bitcoin, Ethereum & Chainlink.
Use BUYUCOINFREBTC Coupon on Signup, Visit rewards Section to claim your reward.
Claim Now