According to Statista, the market for blockchain technology, which powers cryptocurrencies, is set to grow to $163 billion in the next five years, up from a value of less than a billion dollars in the previous five years. Developments like this have given rise to a wave of startups getting involved in blockchain projects and seeking cryptocurrency developers for hire.
This is particularly the case in countries across the world. As this demand for crypto developers rises, it is important to know how to find the best experts to execute or augment your project. ProCoders helps startups and SMBs assemble such talents, review our practical guide on how to go about hiring a crypto programmer as a business leader.
Reasons to Hire a Cryptocurrency Developer
Cryptocurrency is a young and constantly-evolving industry. If you have a startup around cryptocurrency or you have an existing product and would like to implement cryptocurrency payment, then this section gives you more specific motivations for hiring a cryptocurrency developer.
Exponential Growth of Cryptocurrency
The cryptocurrency market is growing at an accelerated pace and this has brought a lot of opportunities for new startups to enter this domain. However, for any startup, it is important to have a good crypto development team working for them as well as proper resources that can enable them to accomplish their goals.
Disruptiveness of Blockchain Technology
Blockchain technology is a disruptive innovation that promises to change how we do business forever. The blockchain has already disrupted several industries, including finance and real estate, but there are still plenty of opportunities for disruption left in other industries like healthcare, entertainment and education among others.
Increase in the Value of Cryptocurrencies
The value of cryptocurrencies has increased exponentially over the past years. This shows that cryptocurrencies are here to stay, and they will continue to grow in value. If you want your business to benefit from this growth, you need to hire cryptocurrency developers who can help you develop your cryptocurrency exchange platform or other crypto-related projects.
Cryptocurrency Adoption by Large Financial Institutions
Major financial institutions such as BlackRock Inc., Goldman Sachs Group Inc., JPMorgan Chase & Co., and Citigroup Inc. have shown interest in cryptocurrencies and blockchain technology, which has resulted in an increase in demand for cryptocurrency developers in these organizations. This has also resulted in a significant rise in the number of job opportunities for blockchain developers globally.
Emergence of Many Blockchain-based Financial Services
Blockchain technology has opened up new avenues for fintech startups across various sectors such as payments, remittances, lending etc., which were previously dominated by big corporations. There is an emergence of several blockchain-based financial services such as digital wallets and cryptocurrency exchanges that are helping people invest their money easily while getting better returns on investment (ROI).
Increasing Profit Margins in Crypto Investment
Cryptocurrency has been the talk of the town since its inception. It has been known for its unique features like decentralization, anonymity, transparency and fast transaction speed. These features have helped it gain popularity among investors and traders alike. With this popularity comes an increase in profits for those who invest in cryptocurrencies.
Many investors have made huge profits through their investments in crypto coins. This is one of the main reasons why there is an increased demand for cryptocurrency developers who can create apps that help users trade with ease and make large profits from their investments.
Exponential Growth of Crypto Exchange Users
The number of users visiting cryptocurrency exchanges and trading platforms has been increasing exponentially over the past years. Consider that Binance grew its user base from 1.5 million to nearly 30 million within the five years from 2017 to 2021. Similarly, Coinbase’s users grew from 13 million in 2017 to 56 million in 2021. As of 2022, its users are numbered over 70 million.
Emergence of Several ICO Events Globally
The emergence of several ICO events globally has significantly increased the demand for crypto developers who can create innovative ideas for companies and help them raise funds through initial coin offerings (ICOs). Therefore, there is an urgent need for skilled developers who can help various companies launch their own ICO tokens successfully or partner with them if they want to create a new platform or product based on blockchain technology.
4 Steps to Hire Crypto Developers ASAP
Here is a list of steps you can take to hire crypto developers. As more and more people turn to cryptocurrencies for their services, the demand for developers has increased.
You should clearly mention what you want to achieve by hiring a crypto developer. Do you want to create a cryptocurrency exchange or want to build your own blockchain? Once you have defined it, come up with a list of features that will help make your idea a reality. The more features you have on your list, the more time it will take to develop them. This also depends on the cryptocurrency blockchain you are building on: Ethereum, Polygon, Solana, TRON, etc.
You will need a crypto developer who has all the necessary programming skills for your project. You should have an idea of the skill set that you need for your project. This will help you narrow down the number of candidates and also give them a clear idea of what they are expected to do. Some required soft skills include critical thinking, problem solving, collaboration, etc. On the hard skills part, you should look out for cryptography knowledge, distributed computing, programming languages, smart contract development, etc.
This is based on two important points. The first point is your available financial resources, which shall determine how much you are ready to invest to kickstart the project. This begins with creating an MVP and testing the idea among your customer base. The second point concerns finding rates that match your desired spending, as well as finding opportunities to save money. For instance, offshoring can help you reduce developer costs.
Define Engagement Model
The engagement model depends on your project’s needs and can be outsourcing, outstaffing, or hiring in-house developers. Outstaffing opens up the best opportunities to develop faster, to test the idea with MPV, and to decide what will be the next step to the successful crypto startup. Hiring in-house developers accumulates costs, considering that crypto developers are still typically expensive and there is a great shortage of available ones. Liaising with an outstaffing company to assemble a super team is the best way to save money.
Skills and Responsibilities to Consider While Looking for a Cryptocurrency Developer
There are many qualifications and responsibilities you need to consider while looking for a cryptocurrency developer. Here are some tips and recommendations on how to find the right talent that will be a good fit for your team
Cryptography is an essential skill for any developer working in the cryptocurrency industry because it requires knowledge of how encryption works and how it can be used to protect data from being accessed by unauthorized users (i.e., hackers).
Having a basic knowledge of blockchain architecture will come in handy while developing new applications on top of existing platforms like Bitcoin or Ethereum. The most common architectures used in blockchain are Hyperledger Fabric and Ethereum Virtual Machine (EVM).
Cryptocurrency developers need to have an understanding of network security protocols in order to protect their clients from cybercrime and hacking attempts. It also helps if they know how to audit code and implement security patches as needed so that their clients aren’t left vulnerable when new threats arise.
Ether is an open-source platform that allows developers to create applications on top of it. The language used by Ethereum is called Solidity, which is used to create smart contracts.
Solana is another blockchain platform that lets developers create decentralized apps (dApps). It has been designed specifically for high throughput blockchains, so it can be used for things like IoT devices or video games where there are thousands of users trying to access data at once.
Bitcoin is open-source software, meaning anyone can contribute to the codebase. Developers who are interested in working on Bitcoin should be comfortable with object-oriented programming languages like C++ and Java.
Cosmos is another blockchain platform that has its own virtual machine for running smart contracts called Tendermint Core.
Hire cryptocurrency developers who can identify problems within your business and come up with solutions on how best they can solve these problems without causing any disruptions within your company or organization at large.
Communication is key when working on projects with multiple teams involved. This means respect for others’ time and attention and an ability to collaborate easily without getting frustrated by setbacks or difficult personalities.
A good cryptocurrency developer should be able to analyze data, trends and patterns in order to make informed decisions on behalf of their clients. They also need to be able to identify problems before they occur and find solutions for them before they become major issues.
Roles & Positions of Crypto Developers: What Programmer do You Need for Your Business?
The formative stages of the crypto industry are gone and now moving into a more mature stage. When it come to development, you need a team of professionals who are competent and have an in-depth understanding of the nuances involved with their respective areas.
These are the developers who work on cryptocurrency projects. You can recruit a crypto developer if you are looking to create a new digital currency, or if you want to improve your existing project. The main tasks for this type of programmer include creating smart contracts, coding and writing code for DApps, creating a new coin or token, developing new features for existing projects and fixing bugs.
It is a blockchain developer who knows how to build decentralized applications (DApps) and smart contracts. They are usually hired by startups and other companies, which require them for developing a new system or improving an existing one. For example, some businesses may want an app that lets users send Bitcoin or Ethereum between one another using smartphones or tablets.
Smart Contract Developer
A smart contract developer is a tech professional who has extensive knowledge of the blockchain technology and its application in business processes. If your company needs to implement a blockchain-based solution, then consider crypto developers for hire in this range. In addition, they can also help you create DApps for your business.
Rust is a programming language that was designed to solve many problems in software development today: safety, parallelism, concurrency and memory safety. You can use Rust to build systems that run on multiple cores or multiple machines without having to worry about data races or deadlocks. It’s also fast because it uses LLVM as its compiler backend instead of an interpreter like most languages do nowadays.
Where to Find and Hire a Crypto Developer?
Finding and hiring a crypto-developer is never easy. For instance, it may be easier to go freelance, but that doesn’t mean that you’ll get the best results. This section discusses what to expect from various methods of finding a crypto developer for hire.
You may already know someone who has work experience with blockchain development or with the cryptocurrency industry in general. If so, reach out to them and see if they would be interested in working with you on your project. Also, if they know any freelancers or agencies who are good at what they do, they would be happy to refer them too. So networking can help you find the right person for your job easier than other methods. Networking is free, but it takes time and effort before you find someone suitable for your project.
There are several platforms that specialize in pairing businesses with freelancers. These include Upwork, Freelancer, Toptal and Fiverr. For a one-time job, this is usually okay, especially for an urgent task. However, for a project requiring long-term development where a high quality of delivery is critical, there are better options available than hiring freelancers.
Some companies specialize in finding talent for businesses that need to hire people for specific jobs.This might be a formidable arrangement if you want to hire one or two developers to augment your team. However, in building a cryptocurrency development team, you need developers who fully match the requirements and hiring agencies simply cannot provide you this.
If you don’t have any luck with networking, try searching for your ideal candidate on Google using keywords like “crypto developers” or “blockchain developers” along with your city or state location so that you will get results for local talent only. The main issue with this method is that you can’t correctly determine if the developer is reliable or whether your project is secure with them.
Try ProCoders Hiring Service
Still on how to find developer for crypto currency, ProCoders is a full-service outstaffing company that can help you find and hire the right talent for your project. We can provide you with top-notch developers at competitive prices. This approach can be especially beneficial if you are looking for someone with specialized skills in one particular area, such as Solidity development or smart contract creation and deployment.
You can also contact us directly if you need help finding a crypto developer who will be able to assist with your project needs and augment your current staff base.
Average Salary of Cryptocurrency Experts
The average salary of cryptocurrency experts varies, depending on the experience level of the listed expert. It takes time to become an expert in any field, and crypto space is no different in this matter. To determine web3 engineer salary or specifically cryptocurrency experts, see the table below:
How to Find Cryptocurrency Developers
How do you find someone to develop your cryptocurrency business? Not everyone knows where to start to hire cryptocurrency programmers. Some of you might know how to find a developer, but the question most likely is what criteria should be used for making such a decision.
Questions to Ask When Hiring a Crypto Developer
- What is your experience with cryptocurrencies?
- Have you ever worked on a development team that has built a blockchain application or cryptocurrency-related product?
- Can you explain the differences between proof-of-work, proof-of-stake and other consensus mechanisms such as Delegated Proof-of-Stake (DPoS)?
- Which blockchains do you prefer working with for developing dApps and smart contracts — Ethereum, Polygon, Cardano or something else entirely?
- What are the biggest challenges you’ve faced working on blockchain projects as a crypto developer?
- Are there any specific platforms that you prefer or don’t prefer to work with?
- Do you have any experience working on ICOs or token sales? If so, can you share some examples?
- Can you walk us through a typical development process for one of your projects?
- How much time have you spent learning about blockchain technology specifically?
- Do you have any experience working with smart contracts? If so, what languages or frameworks do you prefer working with?
- How would you define a smart contract? Do they need to be public or private? What security measures should they implement (if any)?
- How would you approach the documentation process for our project?
- What kind of software development methodology do you follow? (Agile, Waterfall etc.)
- What is your experience with decentralized application (dApp) development? If so, what are some frameworks and tools you’re most comfortable using?
- How would you build an ERC-20 token from scratch?
How to Check Cryptocurrency Developers’ Seniority?
Check for experience and education
A good place to start is with their LinkedIn profile. This can give you an idea of what kind of experience they have, which projects they have worked on, and what their educational background looks like. It also shows if they have any certifications related to cryptocurrencies or blockchain technology.
Look at Their Portfolio
In how to hire cryptocurrency developer, if they have good projects, then they must have some experience in developing cryptocurrencies. The portfolios can also tell you what types of cryptocurrencies developers like working with and what tools they prefer using.
Look at Their GitHub Repositories
This account usually contains all the code that has been written by them so far and will give an idea of how long they have been writing code. You can also look at how many stars each repository has and whether it has been updated recently or not. The more stars a repository has, the more popular it is among other developers as well as users who want to use it in their own projects.
Ask for references from previous clients.
A good reference should have worked with the candidate on multiple projects over time, so they can give you an honest assessment of his or her skills and abilities. Ask about how long it took them to complete each project and whether there were any issues along the way that affected its completion date or final product quality.
Test Drive for developers before the second interview
Test tasks are an important part of the entire recruitment process, as they allow employers to know more about candidates. Asking candidates to complete test tasks before the second interview allows employers to evaluate their skills. The more complex your tasks are, the better it will be for you — this way you can understand if the candidate understands your technology well enough and can deal with it in different situations.
Steps to Hire Cryptocurrency Programmers with ProCoders
ProCoders has sent talented professionals all over the world to work on many projects. We work with foreign clients and communicate normally in English, so any concerns about language or miscommunication cannot be applied here. We provide crypto, blockchain, and web3 developers for hire.
We work with our clients through official agreements, including NDAs, that define their requirements and budget. We also define our own terms of engagement so that both parties have a clear understanding of what they are getting into. This reduces any misunderstandings or disagreements later on.
Discuss Details and Define Developers’ Skills
Once we have an agreement from both sides, we discuss the details of the project and define the skills required for each developer on the team, based on their experience, skillset and availability. We also determine whether there will be any additional members needed for certain tasks within the project. This also applies to web3 and NFT developers for hire and not just crypto experts.
Assembling the Team
Once all these steps are completed, we assemble a team of developers who will work on your project. Each member of our team has its own specialization and skill set relating to NFT development or related spheres like cryptography, databases, etc., so they can understand different aspects of your project quickly and accurately solve its issues.
Trail work with Cryptocurrency Programmer
Once we complete assembling our team, we begin working on your project. We also monitor each stage of development so that you don’t need to worry about anything concerning your project.
No, a cryptocurrency developer and an NFT developer are not the same things. Cryptocurrency developers focus on developing blockchain technology and its applications. They create new coins and tokens, set up blockchains for use in business applications, and generally help organizations implement blockchain technology in their processes. NFT developers also work with blockchain technology, but they focus on creating non-fungible assets that can be used as part of an NFT ecosystem. These assets could be anything from collectible cards to digital art or even real-world objects like cars or houses.
Yes, you can hire developers to create a cryptocurrency. In fact, the most famous cryptocurrency, Bitcoin, was created by a group of developers who wanted to create a currency that could be used across borders and would not be subject to government control. In order to create a cryptocurrency, a developer will need to have an understanding of blockchain technology and be able to program in at least one programming language.
The main difference between cryptocurrency development and smart contract development is that cryptocurrency development involves the creation of a new coin, while smart contract development involves the creation of a program that can be used to control existing coins. Cryptocurrency development involves creating a new coin, which can be used for payments or to buy things online. Smart contract development involves using an existing coin like Ethereum or Bitcoin to create a new service, like a blockchain-based game or voting platform.
Conclusion: Key Takeaways
- Blockchain technology has opened up new avenues for fintech startups across various sectors such as payments, remittances, lending, etc., which were previously dominated by big corporations.
- You should clearly mention what you want to achieve by hiring a crypto developer. Do you want to create a cryptocurrency exchange or want to build your own blockchain?
- Finding and hiring a crypto-developer is never easy. For instance, it may be easier to go freelance, but that doesn’t mean that you’ll get the best results.
- ProCoders is a full-service outstaffing company that can help you find crypto developers for your project. We can provide you with top-notch developers at competitive prices.