- At $125,115 (£95,087) a year, New York City is the highest-paying city for a crypto profession.
- US locations dominate the top ten places to pursue a career in crypto.
- Only Singapore and London, ranked fourth and seventh, are the only non-American cities in the top 10.
The cryptocurrency market has grown in leaps and bounds in the last decade. Today, there are over 10,000 cryptocurrencies that enthusiasts can choose to invest and transact in. This growth in the crypto assets market has opened numerous employment opportunities for those with technical mastery in blockchain and cryptography. Many cities are in a race to be crypto hubs, but where are the best places to work in this business?
CryptoMonday has been analyzing the cities offering the best employment opportunities within the crypto industry. It concludes that New York is the best bet for anyone seeking employment in the industry.
CryptoMondays analysis shows that the city had 4,279 crypto-related jobs as of May 2022. Here the average pay per job is $125,115, and the city is home to 327 businesses focusing on the cryptocurrency industry, non-fungible tokens (NFTs), and the metaverse.
Speaking on the findings, Jonathan Merry, CEO of CryptoMonday, said:
We took an interest in determining the city with the best crypto opportunities. We were considering factors such as the average pay, number of associated businesses and the rules. There is a tremendous possibility to succeed in New York city because there are a staggering 4,729 employment openings within the cryptocurrency space.Jonathan Merry, CEO of CryptoMonday
America Dominates in the Top 10 Cities
A deep dive into CryptoMonday's presentation shows the dominance of American cities in the top 10 most crypto vacancy-rich cities globally. Besides New York, the US boasts of Oakland, Los Angeles, Silicon Valley, Chicago, Austin, Boston, and Seattle in that list. Their domination of the top 10 slots makes America the greatest nation for a career in crypto.
Only two locations outside the US made it to the top 10. The first one is Singapore, which took the fourth position, and the other is London, which placed seventh. The two metropolitans rank as the top cities with the highest concentration of businesses engaged in cryptos. London has the highest concentration (505), while Singapore has the second-highest (352).
Crypto Salaries Are Rising
Starting a career in this area is enticing for many. It has plenty of potential in some of the world's most innovative and exciting places. Furthermore, the remuneration for cryptocurrency is on the rise. The average figure has grown from $92,000 to $125,115. The growth is due to a shortage of experts, forcing employers to lure and maintain them with huge salaries.
The sector attracts the best minds since it is technology based. The shortage of experts in blockchain technology makes it more lucrative as employers come up with better deals and contracts to attract and retain experts. Although some countries consider cryptocurrency illegal, it doesn't deter the operations.