Cryptocurrency job postings increased in August this year as compared to only a 13 percent year-on-year rise seen in August last year, as per data from Indeed. India ranks second in global cryptocurrency users.
October 14, 2021 / 09:00 PM IST
Cryptocurrency (Representative image)
The demand for cryptocurrency jobs is picking pace in India as crypto companies continue rapid expansion. According to data by employment and job listings website Indeed, crypto jobs postings have risen by 37 percent in August 2021 as compared to the same month last year.
The data shows that since August 2018, when cryptocurrency companies were still at a nascent stage in India, postings for crypto jobs have jumped by 138 percent.
People are also increasingly searching for crypto jobs and searches have gone up by 76 percent in August 2021 versus August 2020.
Sashi Kumar, Head of Sales at Indeed India said, “On Indeed, cryptocurrency job postings have seen a steady increase in the past 18 months. In August 2021 job postings for crypto jobs saw a 37 percent increase as compared to 13 percent in August 2020. ”
However, the data also shows that the average monthly salary for key crypto jobs remains low, despite the hiring war and rise in overall salaries for techies. The average monthly salary for a developer at a crypto company is Rs 35,000. The average monthly salaries for full-stack and PHP developers stand at Rs 35,000 and Rs 21,188 respectively.
Developer, software engineer, full-stack developer, senior software engineer and Java developer are the top jobs in demand in the crypto market.
“While cryptocurrency development promises to be an exciting new field of work and offers tremendous scope for application, the sector is still in a very nascent stage. With the demand for such jobs increasing on our platform is an indication of even more jobs being created in the sector in the future,” Kumar added.
According to blockchain data platform Chainalysis’ 2021 Global Crypto Adoption Index, India ranks second in global cryptocurrency adoption after Vietnam. The number of Indians who have invested in cryptocurrencies is estimated to be around 15 million.
Investments by Indians in cryptocurrencies are surging even as India awaits a clear law on cryptocurrencies and the treatment of investments as such. Over the last two months, India also saw two crypto unicorns emerge after exchanges CoinDCX and CoinSwitch announced their latest rounds of fundraising.