Huge fortunes have been amassed by early adopters in the crypto space.
The earliest days are now gone. Don't get me wrong, we are still very early in the space, but the ultra early adopters are already made. They took enormous risk by investing in cryptocurrencies, namely Bitcoin, and it has paid off handsomely. The days of acquiring Bitcoin for under a dollar are gone, and investing has its risks anyways.
There is a way to get very wealthy through cryptocurrencies and it doesn't require you taking any risk. It is an absolute sure thing. 'Simply' become a blockchain developer, and you can build plenty of wealth through coding blockchain projects.
The initial round of wealth went to early investors, miners and developers of cryptocurrencies. They were able to amass large quantities of coins that rose exponentially in value. The second wave of wealth accumulation is currently underway. Developers of cryptocurrency projects, and of infrastructure projects are now earning the largest amounts of wealth. We will remain in this phase for the next decade or more as the usability and scalability of Bitcoin and cryptocurrencies are built and solved.
So why is it so lucrative to be a blockchain engineer? There is a reason blockchain devs are compensated extremely well. What you do as a blockchain developer is extremely rare. This makes blockchain development extremely valuable. There are not many blockchain engineers and as a result simple economics dictates that the skill set that makes a successful blockchain dev also make that person worth a lot of money. Let's look at some examples.
Hired which is a website for employers, recruiters and job applicants released their annual "State of Salaries" report for 2018 (check it out here). This report, although not gospel, had a few interesting stats.
The first of which is pay. In San Francisco Hired states that the average annual salary for a software developer is $135,000. But the average blockchain developer earns on average between $150,000 and $175,000 per year. That's quite the premium for a premium set of skills. However, it gets better.
Hired also reported that since 2017, blockchain related jobs have seen a 400% increase. That means not only are blockchain devs compensated well, but there are loads of open job reqs, so if you have the requisite skills, you can essentially take your pick!
This is great, but from my experience I can tell you first hand that there is an extreme shortage of quality blockchain knowledgable candidates. I've seen many jobs remain unfilled for months. Often times these jobs are not even for engineers, but the talent pool of people who have even basic knowledge of cryptocurrencies and blockchain tech are simply lacking. There are not enough skilled blockchain professionals to fill all of the roles that are currently open, and new roles are added every day.
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