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Has Bitcoin’s popularity created jobs?

by LLB Reporter
19th Jan 18 11:33 am

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Cryptocurrency is big news across the globe at the moment. From Bitcoin’s ever-changing status – be it Bitcoin’s biggest daily crash in months this week amidst South Korea’s crackdown – to the parody Bitcoin rival, Dogecoin seeing its market value peak at $2 billion last weekend. With this in mind, job search platform Joblift decided to investigate whether the buzz around cryptocurrency has led to a spike in jobs associated with the alternative payment method. Joblift has analysed jobs associated with Bitcoin, Litecoin, Dogecoin, Ethereum, Ripple, and Peercoin in the UK in the last 12 months and can conclude that unlike the unsteady peaks and troughs in valuation, cryptocurrency jobs have seen a huge average monthly increase of 19 per cent.

Almost a third of cryptocurrency jobs reserved for highly educated candidates

According to Joblift, 2,015 cryptocurrency vacancies have been posted in the UK since January 2017. These positions have made up just 0.02 per cent of the UK’s job vacancy market in this period, however, they have increased by 19 per cent each month on average – 9.5 times more than the UK job market as a whole (2 per cent increase). Interestingly, cryptocurrency vacancies stayed active online for an average of 31 days, the same duration as the entire UK job market average. This is surprising considering 31 per cent of the cryptocurrency jobs posted in the last year expected candidates to hold either a Master’s or a post-graduate qualification – with these postings increasing at an average of 26 per cent per month, suggesting the complexity and high level of training needed for these roles. 

A third of all vacancies are for programmers, and London is the cryptocurrency capital with 90 per cent of roles

Programmers are the most sought after professionals in the UK’s cryptocurrency job market, accounting for 33 per cent of all job postings in the last 12 months. Making up 13 per cent of vacancies, System Developers and Analysts rank in second place, followed by Communication, Marketing and Public Relation Managers accounting for 4 per cent of all advertisements. Unsurprisingly, London holds dominance when it comes to location of cryptocurrency roles. The UK’s financial centre has been the location of 90 per cent of all cryptocurrency roles posted in the last year, no doubt owing to the fact that cryptocurrency’s top five employers (Wirex Limited, Blockchain, Broadridge, IBM Business Group, and JW Consulting) all have their UK headquarters in London. Northampton ranks in second place with 2 per cent of all positions being located here, and Cambridge rounds off the top three also holding 2 per cent of vacancies.

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