The first step into the blockchain industry

The cryptocurrency industry has grown tremendously in the years since it was founded. After the introduction of Bitcoin (BTC) in 2009, an entire industry centered around the innovative asset and the underlying blockchain technology took shape and flourished. People have created thousands of cryptocurrency projects, many different blockchains, and several different specifications and variations of blockchain technology.

With such a large and extensive industry, how do you know where to start if you want to get started? Start with your interests and talents.

The cryptocurrency and blockchain industry (sometimes referred to simply as the blockchain industry or cryptocurrency industry) has branched out into a number of specific areas where you can get involved in many other roles. The aspects of these industries discussed in this article are not an exhaustive list, but rather provide some examples of different niches in the field.

The niches mentioned aren’t particularly well established or accepted across the industry either, and can be grouped or categorized differently depending on who you’re talking to or what source you’re researching. Some niches can also overlap with other niches across the industry.

developer

Tech-savvy people who can code might be interested in this part of crypto and blockchain. This could mean building decentralized applications, helping with blockchain development, or working on specifications for crypto assets. Together, developers have laid the foundation for industrial systems and solutions.

To understand blockchain, see – How does blockchain work? Everything you need to know

Many potential areas of interest fall under the developer category. The decentralized financial (DeFi) segment of the crypto space will be revealed in 2020, creating an entirely new need for digital asset swaps and associated infrastructures. DeFi deals with solutions for functions such as crypto-based loans.

To learn more about DeFi, read – DeFi: A Comprehensive Guide to Decentralized Finance

Another potential area for those interested in the technology is in unusable tokens (NFTs), which have gained popularity in 2021 and offer a new way to authenticate and track items. The NFT division of Crypto needs people with the technical skills to develop solutions to existing use cases and explore unexplored applications of the technology.

Interested in NFTs? Check out the magazine from Cointelegraph A quick guide to non-fungible tokens

Businessman

Trading cryptocurrencies is similar to trading stocks in many ways. The crypto industry has thousands of digital assets, each of which fluctuates in price. Cryptocurrency trading is about buying and selling assets for a profit. Traders are not so concerned with what an asset does and how it works, as they are concerned with whether they can buy assets and sell them at a higher price, or vice versa.

Traders may be interested in breaking news and want to buy and sell based on hype or expectations. Traders also frequently use price charts, assess price patterns, and price indicators. Price action charts are known as technical analysis. Since Bitcoin and other cryptocurrencies publicly display asset movements on their blockchains, analysts can also draw their own conclusions based on transactions and activities – so-called on-chain analysis.

Further information on trading cryptocurrencies can be found at: How To Trade Cryptocurrencies: The Ultimate Beginner’s Guide

Trading can also overlap with a developer’s niche as traders may want to build (or have others built) trading bots, client chart indicators, and other useful trading tools.

Regulations

How do cryptocurrencies fit into the current laws and regulations of the countries? Should regions develop new laws and guidelines for crypto and blockchain? Regulation is a growing focus as the crypto industry continues to grow in the years to come.

The classification of cryptocurrencies as assets gradually emerged. Bitcoin and Ethereum (ETH) are often viewed as commodities, but the classification for many other crypto assets in the industry is unclear.

The United States Securities and Exchange Commission (SEC) took action against Ripple in 2020 over the status of XRP, an asset in which Ripple has been involved in a variety of ways over the years. There are also other regulatory measures in cryptocurrency and blockchain, such as the ongoing context with crypto exchanges and their areas of application.

Those interested in cryptocurrency or blockchain in the legal or regulatory arena can overlap in their passions by delving into crypto regulation in some way. This could include working on the regulatory and compliance teams of crypto projects, working with policy and advisory groups, or working directly in governments to propose changes.

Company founder

Executives and visionaries may have a desire to improve the crypto space by creating a project or company that solves an identified problem or need. Innovators have created countless projects in the field over the years and helped grow the industry from a single property to an entire sector.

Building a business can mean identifying something that is missing in the crypto or blockchain space and then recruiting and leading a team that focuses on providing a specific solution to the problem.

Further information on crypto regulation can be found at: Will regulation adapt to cryptocurrencies or will cryptocurrencies follow regulation? Experts answer gia

There is some overlap in this category as Company Builders may also have knowledge of coding, regulation, or any of the other areas mentioned above.

Content creator

The growth of social networks and the internet has opened doors for attendees to share their thoughts and expertise around the world. Almost anyone can learn huge amounts of information about the crypto space through YouTube, Twitter, and other methods, and then bring their expertise to the equation by providing content.

Connected: New Era of Content Monetization? Blockchain technology can help you pay

Content streams can include writing about cryptocurrency and blockchain on a personal blog or for a media company, creating YouTube content, media coverage, and more. Content creation can also overlap with any of the other categories mentioned in this article. Developers, distributors and management professionals can all create their own content.