What’s it Like to Move into Crypto?

April 6, 2022

What’s it Like to Move into Crypto?

Posted on 06 April 2022

​The term “traditional finance” builds a picture in the minds of today's employees:

- Bureaucracy.

- Endless Meetings.

- Rigorous identification processes.

- ‘Top-down’ decision-making’.

- Set hierarchies and limited opportunities for progression.

Although advancement in FinTech has done a lot to drive change in the overall accessibility of financing and investments, there are still huge barriers to entry for anyone looking to get into the space.

Due to an overall sense of distrust, traditional finance is failing millennials and all following generations (Source: Wall Street Journal).

The Problem With Traditional Finance

Hundreds of financial institutions have joined the conversation about the long-term survivability of investment as we know it.

In 2022, consumers are on the hunt for savings solutions with high ROI and low personal cost - something global, local, and neobanks struggle to provide.

Since 2009, cryptocurrency has begun to decentralise finance: promising an alternative to traditional investment and allowing users to benefit from transparency, speed, accessibility, security, privacy, and more.

It’s no wonder, then, that the space is growing at a CAGR of 7.1% - bringing it to an estimated $2.2 billion in value by 2026 (Source: Markets and Markets), as traditional finance faces decline.​​

The Benefits of Working in Crypto

Crypto has become an attractive area for employment opportunities, especially for those with low-latency and distributed system engineering backgrounds:

  1. The shortage of talent across technical applications is driving a human resource war where candidates have high bargaining power and average salaries are on the rise. Since last year alone, crypto offers in the UK have increased by 29.69%, bringing the 50th percentile median from £80,000 to £103,750 (Source: IT Jobs Watch).
  2. Digital platforms that support crypto are creating the foundation for ideal working environments: at home, appealing to the 75% of technology employees who want remote work. (Source: App Neta). Instead of lengthy and expensive commuting, crypto developers and consultants alike can operate from anywhere in the world - often to a schedule that is convenient for them.
  3. Crypto is constantly advancing, and so are job opportunities for finance experts and software developers alike. As the total active user base grows to 300 million worldwide (Source: Triple A), R&D in the space will foster creative and engaging careers for many. Already, the crypto economy and blockchain technologies have been dubbed the “greatest innovation of our time”. (Source: Business Insider).

Qualified developer and engineering talent looking for a new job in the traditional finance and trading industry would be well advised to consider working in crypto instead. Easily transferable skills allow for easy entry into a fast-growing market and there is just one question you need to ask yourself:

Do you want to be part of the future of finance?

Moving into Crypto from Traditional Financing and Trading

The establishment of crypto has rewritten the script for investment and is an industry predicted to grow for years to come. Still - it can be an intimidating consideration for job seekers, so candidates should consider communicating directly with recruiters to explore the options available to them that align with their skills and qualifications.

From our research and experience, crypto employers are currently looking for:

- Software Engineers (Back-end, Full-Stack and Mobile) across all languages

- Blockchain Engineers/Architects

- Quant Developers

- DevOps and DevSecOps

Ex-traditional finance software employees placed by Source Control, Anshul Nigam and Gianluigi Perini, agreed to provide insight for other talent considering the move. They are just two examples of qualified candidates who are now thriving in the crypto space.

Q: How have you found your move into the Crypto space? Is it different from what you expected?

Gianluigi: “The crypto space has been brilliant for me. It provides similar culture and values to most technology start-ups, such as speed, customer service and an inclusive environment. The challenges I’ve faced have been similar to what I’ve encountered before and been nothing I couldn’t handle.”

Anshul: “What I was most surprised by is that not everyone is crypto-centric. There is a mix of people who are all extremely passionate and some are completely new to the space. The position I scored was a fantastic place to learn and I have become very comfortable. I never had an issue not having direct sector experience from the outset. The only downside is the occasional slower day when not much is going on. That won’t last.”  

Q: How much does Crypto differ from Traditional Finance/FinTech?

Gianluigi: “Finance is slow-moving. Crypto is always changing. Supporting rapid growth from an infrastructure perspective has been the biggest challenge.”

Anshul: “For me, the applications I’ve used - like Tech Stack and Integration Partners - are very similar, but the “remote first” culture has been a big differentiator. There aren’t too many meetings, either, and we’re allowed to be independent. The company I work for is a unicorn - I’ve always had the feeling that I’m making an impact, and I know where we are and where we want to be. It’s refreshing.”

Q: How much have you learned about Crypto/DeFi/Blockchain since you started?

Gianluigi: “The company communicates really well, so I’ve always felt informed and been able to access experts when I need them. I’ve found that asking for opinions or simply reading articles and the news has moved me from a finance worker to a crypto employee. One of the main things I’ve had to learn is updated technologies, such as how specific parts of the organisation deal with Blockchain and Web 3 - whilst I was used to Web 2.”

Anshul: “The enthusiasm of the community (from the CEO down) is great! People are very eager to teach, and are always happy to talk about crypto, NFT and Blockchain. To this end, I’m always learning - and I’m excited about it.”

Q: Is there anything in particular that you wish you knew before moving into the space?

Gianluigi: “Being prepared for ambiguity. Each day there’s a new challenge, which can be messy but exciting. I’m never bored. We’re attracting a lot of investment and users, and if a company was “stable and steady” - we wouldn’t be getting that attention. High risk, high reward.”

Anshul: “You won’t need handholding. You have to be confident in the skills you already have, and be prepared to do your own research and ask questions. Oh, and don't worry too much about Web 3 just yet - you’ll grow as it does.”

Moving into Crypto with Source Control

Finance Position

Crypto Position

Quantitative and Financial Analyst

Crypto Research Analyst, Quality Analyst, or Strategic Finance Analyst

Software Engineers

Software Engineer, Crypto & Blockchain Engineers

Looking to move into crypto?

We are global experts in the placement services of technical professionals from low-latency and distributed systems engineering backgrounds in Blockchain, Crypto & HFT. We place top tier talent (like you) at all skill levels from junior to executive hires on a permanent, contract, contingent or retained basis.

If you’ve been looking to advance your career in a competitive and engaging job role, contact our specialist consultants today.


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