A cryptocurrency analyst has a center seat in the emerging new field of digital finance.
Believe it or not, cryptocurrency has been around for the last decade. It is becoming more popular recently, with many using it daily and investing in the trend. On the other hand, many are still skeptical.
Well, the answer to that is simple: a lack of knowledge.
If you’re reading this article, you likely have some interest in cryptocurrency and might even be curious about what it takes to start a career in the field and what job opportunities might be available.
You’re in luck because that’s what we plan on tackling in this article.
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What is Cryptocurrency?
In the most basic definition, a cryptocurrency is a digital form of currency that companies or establishments can exchange online for goods and services. In exchange for real money, cryptocurrencies work using a decentralized technology spread across many computers that manage and record every transaction.
Check out the blockchain developer career guide for more info about emerging decentralized systems.
What is a Degree in Cryptocurrency?
A degree in the field delivers a full comprehension of cryptocurrency and its trading practices. Most programs deliver the fundamentals to master the technological infrastructure that powers Blockchains (the technology that stores cryptocurrency).
Although only a handful of institutions offer a degree in Cryptocurrency or Blockchain, there are different programs and courses related to cryptocurrency. Below are some examples of different course options and what they entail.
- Intro to cryptocurrency – This program gives you a working knowledge of the latest cryptocurrency developments to assess the viability of crypto projects. You also have the opportunity to gain a comprehensive understanding of industry opportunities, insight into blockchain technology, and access to cutting-edge ideas with strategies designed to help you gain a competitive edge in the industry.
- Crypto finance – Students will explore the crypto finance markets and market structure, participants, regulation, and dynamics of this relatively new and volatile asset class.
- Blockchain labs inaugural cycle – This course engages in the latest developments in blockchain and then integrates the technology into business models.
- Blockchain basics – This course in blockchain specialization provides a broad overview of the essential concepts of blockchain technology and the foundation necessary for developing applications and programming. Students will be equipped with the knowledge needed to create nodes on personal blockchain, create and unlock accounts, mine, transact, and check balances.
As cryptocurrency continues to grow in popularity, so will the degree opportunities in the field. For example, MIT has introduced expansive crypto course offerings, with classes focused on different topics such as blockchain ethics and crypto finance.
How to Become a Cryptocurrency Analyst
One of the most pursued positions in cryptocurrency is becoming an analyst, and there are several steps to take to reach such a desired position. As previously mentioned, few degree options can be obtained, but education is required.
Most companies offering a position as a cryptocurrency analyst require a bachelor’s degree in either business, finance, or a field related to blockchain technology or cryptocurrency. Many institutions offer various course selections that focus on the subject. Though not all companies require it, most will search for candidates with master’s degrees in a related field and offer junior positions. Companies will look for this particular experience and education level when assessing candidates for this particular position.
Programs, bootcamps, and alternative training are available along with a fundamental education. These programs will allow future professionals to receive hands-on experience in the field and give them a head start over others pursuing the position.
What Does a Cryptocurrency Analyst Do?
You might wonder what a cryptocurrency analyst does. This role is responsible for analyzing trends and pricing of different cryptocurrencies available and using that information to trade effectively.
Analysts use their knowledge and different techniques to focus on all the systems and writings within the field. Their day-to-day responsibilities involve directing their company’s or clients’ investments toward the most profitable cryptocurrency markets.
Though much of the position is self-motivated, it also requires analysts to work alongside team members to discuss trends and other highlights in the market. Many work with different trading agents to provide expert knowledge and recommendations on trading tactics.
Five Things You Can Do to Build a Crypto Career
1. Learn the basics
If you’re interviewing for a job in crypto, then get ready for a hiring manager to ask, “How does Bitcoin work?” Be prepared to have a firm understanding of the basics of cryptocurrency and Bitcoin. In addition to taking courses and enrolling in programs, there are many online resources, including articles, videos of guest speakers, and crypto platforms you can experiment with on your own.
2. Build a portfolio
Portfolios and projects will become a crucial element that companies will use to hire an individual for a crypto position. Many experts believe that the resume will become nearly obsolete within the next decade. Therefore, start building and expanding your portfolio of cryptocurrency projects now.
How? For example, if you are interested in a software development role, consider contributing to open-source projects that show your code.
3. Start your own cryptocurrency business
Because cryptocurrency is still relatively new, and many companies and individuals don’t fully understand how to navigate it, there’s an opportunity for you to learn the ins and outs of cryptocurrency and come up with creative solutions to help others. The more value you can provide, the better.
4. Research and experiment with solutions and different business models
Whether you start your own cryptocurrency business or work for a Fortune 500 company, spend time researching and experimenting with different strategies, platforms and technologies, and solutions (and add those to your portfolio). If you can show a hiring manager or investors varying use cases and business models using blockchain technology, you are in an excellent position to pitch new ideas.
5. Get involved in the crypto community
Join online forums, attend conferences (including virtual meetings), listen to guest speakers and podcasts, follow thought leaders on Twitter—do what you need to do to get involved in the crypto community. Forums and platforms are where experts and individuals well-versed in cryptocurrency exchange ideas.
Cryptocurrency Degree: Career Outlook
With the rise in popularity and widespread usage of cryptocurrency, the career outlook is becoming bigger and brighter. As a result, many companies have been experimenting with different positions and opportunities to embrace what could propel the future of their business.
Cryptocurrency Analyst positions require a strong understanding of the subject with proven education and experience. Including becoming an analyst, there are plenty of opportunities for candidates interested in a cryptocurrency career. Below are five of the most pursued positions for a professional looking to start a career in the field:
- Cryptocurrency trader: This is a common position in cryptocurrency. This position is often done at home and involves researching and paying close attention to market prices of cryptocurrencies and value tokens and knowing when to buy when prices are low and sell when prices are high.
- Blockchain / Crypto content writer: They are responsible for creating content to ensure people stay interested in blockchain technology and are willing to use it and invest in it.
- Business development representative: This position establishes relationships and partnerships to promote their services in cryptocurrency based on market demand while creating opportunities across many different industries.
- Software developer / Machine learning scientist – These developers create algorithms and software to deliver user-friendly digital interfaces that connect investors with cryptocurrencies.
- Security engineer – With blockchain and cryptocurrencies becoming more desirable, securing digital assets and information is crucial. This position involves creating highly secure software security systems to protect company and client data.
- Cryptocurrency / Financial analyst – Analysts study cryptocurrencies and recommend investment opportunities and general financial strategies to investors and customers.
Of course, salaries for cryptocurrency positions can differ depending on the type of position and location. For example, a work-from-home cryptocurrency trader can earn approximately $60,000, whereas a software developer can earn upwards of $150,000 per year.
Cryptocurrency Analyst FAQs
A cryptocurrency is a digital form of currency that can be exchanged online for goods and services by companies or establishments that accept them. Cryptocurrency is held within decentralized computer systems that carefully track and record every transaction.
A degree in the cryptocurrency field delivers the knowledge and experience necessary to launch a career in the field. These courses deliver the fundamentals to master the technological infrastructure that powers blockchain, the technology underpinning many cryptocurrencies.
After obtaining a bachelor’s degree in either business, finance, or a related field, many companies will require a master’s degree for an analyst role or related work experience. Some institutions offer one-off courses, programs, or bootcamps. These programs are useful to expand skills, knowledge, and expertise. The great thing about trying to break into a new field like cryptocurrencies is that you can also do a lot of research and experiment. You can also build related experience, professional networks, and a portfolio.
Cryptocurrency analysts study crypto markets and developments and recommend opportunities and strategies to investors and customers.
Companies today are investing in careers such as blockchain/cryptocurrency writer, business development representative, software developer, machine learning scientist, security engineer, and cryptocurrency or financial analyst.