Here is Why Salaries for Blockchain Developers are Soaring

How much do you know about blockchain? At the very least, you may be aware of its existence if you’ve ever heard or read anything about Bitcoin. If your knowledge of blockchain is a little light, then you’re about to learn a lot more about it. If you have heard of blockchain, then you need to check out why blockchain developer salaries are going off the charts.

But first, let’s touch upon precisely what blockchain is and what a blockchain developer does.

What is Blockchain?

Blockchain’s origins go back to 2008, as a means to power Bitcoin, which in turn came out a year later in 2009. A “block” is a means of permanently storing data, analogous to a page in a ledger, which, when created, cannot be altered or deleted. Members of the online community called “miners” maintain it, and when it’s linked with other blocks, you have a “Blockchain.”

Businesses and organizations today are rapidly adopting blockchain technology as a reliable means of keeping sensitive data safe. Blockchain’s miners earn Bitcoin for their efforts. Anyone can be a miner, provided they have the right tools to do it and the time to invest in the process.

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What Does a Blockchain Developer Do?

For starters, we need to point out that there are two different kinds of blockchain developers: 

  • Core Blockchain Developers

    They design the architecture and security of a blockchain system
  • Blockchain Software Developers

    They use the core web foundation and architecture built by the core developer to create decentralized applications (dapps) and web applications, as well as smart contracts

If you’re wondering how to become a blockchain developer, then check out this article for some timely advice.

How Popular is Blockchain?

Blockchain provides an extremely secure method of storing data and conducting transactions. Companies and organizations are starting to take notice since, according to these statistics provided by Techjury, 90 percent of US and European banks explored blockchain in 2018. The worldwide blockchain technology market is projected to amass revenues of $20 billion by 2024.

According to 101blockchains, the three economies that have embraced blockchain the most are the United States, China, and Switzerland. The US currently has the most blockchain activity and interest, but that will no doubt change in the coming years.

Furthermore, as the Internet of Things (IoT) continues to gain acceptance and usage, it is increasingly adopting blockchain technology. The value of IoT devices is expected to exceed $50 billion by 2020. This development spells good news for blockchain and also translates into greater demand for blockchain developers.

The above developments are hardly surprising. Blockchain offers unparalleled data security, as one of the biggest concerns, today is cybercrime. As more of our daily activity migrates online, security becomes a more pressing issue. Blockchain stands ready to meet those security needs, but that means more developers are needed and, consequently, salary incentives will be more appealing.

Interestingly, cryptocurrencies such as Bitcoin are still not wholly accepted by the online community at large. Still, blockchain, the vehicle powering Bitcoin, has grabbed an increasing amount of attention and acceptance from many influential businesses and organizations. 

In light of blockchain’s surge in popularity and increasing acceptance, let’s take a look at some specific information regarding what a blockchain developer’s salary looks like in selected countries, as well as a list of blockchain developer jobs in those same regions.

What Does the Blockchain Developer Salary 2019 Picture Look Like?

In one word: excellent! Blockchain developer salaries are taking off worldwide as the demand for blockchain engineers and developers continues to soar. Blockchain developers can pull in a salary that is comparable with Artificial Intelligence (AI) developers, according to CNBC, and that’s some serious money! 

Here is a sampling of blockchain developer salaries in different areas of the world. Bear in mind that these figures can fluctuate based on precise geographical location, company size, spikes in demand, and other factors.

  • What’s the salary of a blockchain developer in India? According to Glassdoor, Blockchain developers in India can earn an annual average of ₹706,265.
  • What’s the salary of a blockchain developer in the United States? ZipRecruiter cites $157,893 for the average yearly wage for US blockchain developers. 
  • What’s the salary of a blockchain developer in the United Kingdom? Blockchain developers in the UK can expect to earn an annual average of £50,278, according to Glassdoor
  • What’s the salary of a blockchain developer in Singapore? The Blockchain Council website reports that a developer in Singapore can expect an average annual salary of 165,000 SGD. 
  • What’s the salary of a blockchain developer in Switzerland? Business Insider reports yearly salaries averaging USD 180,000 thanks to a huge blockchain boom in that country. 
  • What’s the salary of a blockchain developer in Canada? The median blockchain annual salary in Canada is C$136,500, which averages out to about C$70 an hour, according to Neuvoo. Additionally, an entry-level position averages C$78,500. 
  • What’s the salary of a blockchain developer in Australia? Hackernoon reports that Australian blockchain developers earn an average of A$100,000. Also, Australia is currently facing an acute shortage of blockchain professionals
  • What’s the salary of a blockchain developer in China? Standard blockchain developers’ starting annual range is ¥45k to ¥60k, according to the Blockchain Council. Directors and managers earn approximately ¥60k to ¥120k. Furthermore, many positions offer stock options.

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What Does a Junior Blockchain Developer’s Salary Look Like?

Junior blockchain developers are typically assigned more supportive duties or groundwork. These tasks include debugging and repairing mobile apps, creating blockchain database application programming interfaces (API), or even handling the user interface (UI) design and front-end development of web and mobile applications. Think of them as entry-level developers, interns, or assistants.

To that end, their salaries run on the lower end, although even that starting pay is quite a bundle! For instance, ZipRecruiter shows an annual average salary of $120,748 for a junior blockchain developer in the United States.

If you can’t find more information on junior blockchain developer salaries, assume that they hover around the low end of the standard blockchain developer’s pay scale.

How Do You Find a Blockchain Developer Job?

Thus far, we have shown you that blockchain developers are in high demand and earn a good salary. That’s great, but how do you get one of these fantastic jobs?

Fortunately, we have you covered. The internet is your greatest ally in the quest to find the best blockchain career opportunities. Although there are countless job-finding websites out there, the best sites for blockchain jobs are AngelList, Blockchainjobz, Blocktribe, Crypto Jobs List, Indeed.com, Joblift, Linkedin, and Upwork. You can find out even more job insights here at Howtotoken.

Here are some examples of blockchain developer jobs in three popular global markets. There are many more positions out there in countless other locations around the world, most of them just a click away:

List of blockchain developer jobs in India

  • Blockchain Developer, Aroha Technologies
  • Trainer, Global Management And Services
  • Blockchain Platform Developer, UnionSys Technologies
  • Artificial Intelligence Training and Jobs (Placement Assistance), Creopedia Business Intelligence Private Limited

List of blockchain developer jobs in the US

  • Developer - Hyperledger Fabric Blockchain, IBM
  • Blockchain Developer, TopOff Labs
  • Blockchain Developer/Engineer, MOAC Foundation
  • Blockchain, Cryptocurrency, Bitcoin Intern, Blockchain Center Miami

List of blockchain developer jobs in the UK

  • Blockchain Developer, Bangura Solutions
  • Full Stack Developer, nChain
  • Developer Evangelist Intern, R3
  • iOS Developer (iOS, RxSwift, RxCocoa), Ampersand Consulting
Are you prepared enough to become a Blockchain Developer? Try answering these Blockchain multiple choice questions and find out!

Do You Want to Become a Blockchain Developer?

After reading about all of the opportunities and benefits of being a blockchain developer, it wouldn’t be surprising to hear that you’re pondering a career change. If that’s where you find yourself, you’ll be glad to know that Simplilearn can help you get your start.

The Blockchain Certification Training Course provides an overview of Bitcoin, Hyperledger, Ethereum, and Multichain blockchain platforms. In this course, you’ll get to know and use tools like Ganache, Truffle, Meta Mask, and Geth to build Blockchain applications, learn how to set up a private Blockchain network using Hyperledger Composer, and deploy smart contracts on Ethereum.

The certificate that you earn tells an employer that you are well-versed in this new technology and can be confidently expected to meet all of the demands that the position makes. Whether it’s blockchain or any other IT tool or concept, certification gives you an edge over the competition.

Simplilearn’s blockchain course consists of 50 hours of Blended Learning, with over 40 hands-on exercises with integrated labs and 11 projects covering Ethereum, Hyperledger, Multichain, and Bitcoin. There are also options for self-paced learning and corporate training solutions.

Even if you’re already working as a developer, there is always the option of upskilling. Blockchain technology is making inroads into a wide range of industries. Smart professionals plan and stay informed of the current technology; those are the people who succeed and climb the corporate ladder.

So check out Simplilearn’s courses today and be a cutting-edge developer!

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