Experts have branded 2021 as a big leap forward for cryptocurrencies. Elon Musk’s $1.5 billion investment in Bitcoin, increased interest in regulation from the Biden administration and a surge in uptake from the general public have contributed to heightened confidence and growth in the crypto industry.
It’s a development which, coupled with the rise in emerging new technology hubs across the US, is adding to the demand for software engineering talent in the crypto space. One of those hubs is Miami, which is quickly gaining a reputation not only as a technological innovation hub, but as the epicentre of a crypto boom.
What’s the appeal of crypto for Software Engineers?
As a virtual payment system, cryptocurrencies run on blockchain technology, a distributed database where transactions are processed securely without a third-party intermediary. The role of a Software Engineer is crucial to the development, maintenance and build of applications that administer transactions on the blockchain.
Their programming, design and quality testing skills also lend themselves to a logical career transition into the cryptocurrency arena. These essential skills do not go unnoticed by employers either – salaries in the industry tend to range from $70,000 up to $200,000.
What specific skills do Software Engineers need for a career in crypto?
Well, you’ll need to know your blocks from your nodes – in other words, a fundamental understanding of the blockchain will be required. Aside from that, several key coding languages are used in the building, maintaining and running of the blockchain, which leaves the door ajar for Software Engineers of most disciplines.
Who are the big players in crypto?
Right now, there is a diversity of blockchain development roles in big demand. Intel recently announced the launch of a chip for blockchain applications in acknowledgment of the rising use of crypto, and Alphabet’s Google Cloud is recruiting a new team of blockchain experts to help win more business.
In the world of finance, PayPal is embracing the technology by allowing Ethereum, Litecoin, Bitcoin and Bitcoin Cash purchases through its app, and Mastercard announced last year that it is preparing for the future by supporting selected cryptocurrencies on its network.
Alongside those household names, Miami is buzzing with brand-new start-ups in the cryptocurrency space. Four of Miami’s six biggest VC investments last year were in FinTech firms. MoonPay, which was founded in the city in 2018 has already been valued at $3.4 billion, while others like Faraway, Arival and Swype – to name but a few – are also attracting huge interest from venture capitalists.
This overall investment of time, finance and resources from multinationals, coupled with the emergence of start-ups both in Miami and across the globe, points to an impending era of even greater career opportunities for Software Engineers. For those looking at their next career move, the crypto industry may well hold the key.
Are you a Miami-based Software Engineer ready to take your next step? develop specialises in finding the best talent for the best opportunities across the US, UK, and Europe. For more information, get in touch.