Despite the price volatility of Bitcoin and altcoins, cryptocurrency job postings and openings have been on the rise in India. According to a report culled from Indeed, an employment-related search engine, there has been a high demand for cryptocurrency-related jobs in Bengaluru, Pune, Hyderabad, and other cities report a local media outlet on February 26.
Increase in the Number of Cryptocurrency-Related Positions Sought
Per the report, some cities in India have seen an increase in the number of job vacancies and postings advertised on Indeed. An instance of this is Bengaluru which has maintained its position as the city with the highest number of job seekers targeting the crypto space. It accounts for 34 percent of cryptocurrency-related job postings in India.
Next is Pune, which accounts for 8 percent of job seekers who are interested in cryptocurrency careers. Other cities which came in the top are Hyderabad (8 percent), Noida (7 percent), and Gurugram (6 percent), Chennai (5 percent), Mumbai (4 percent) and Ahmedabad (3 percent).
Mumbai Records a Decline in Demand for Cryptocurrency-Related Jobs
Reportedly, there has been a decline in the number of job vacancies in Mumbai which was ranked in the second position when the data was culled in March 2018. Despite this, it is exciting to know that Indians are also interested in blockchain technology. There are also experts in the country who are willing to work in the crypto space.
According to Venkata Machavarapu, Head of Engineering, India and Site Director at Indeed India, the wide scope of blockchain technology allows people to explore careers in cryptocurrency as long as they have the required skills. The director added that there was a steady rise in the demand for such jobs in 2018.
Machavarapu also said:
With the total market capitalization of crypto estimated at $211 billion, the future for jobs in the sector looks very positive.”
Reserve Bank of India Warnings Against Cryptocurrency Investment
The level of interest in crypto jobs goes contrary to the warnings of the Reserve bank of India against the risks involved in trading cryptocurrencies. Banks in the area have also been known to close down a customer’s account if found virtual trading assets. An instance of this was reported on January 15 of the Kotak Mahindra Bank which closed a client’s account.
That aside, blockchain jobs are also in demand across the world. BTCNN on December 14 made reference to LinkedIn’s report which revealed that Blockchain developer is one of the most hired jobs in 2018. A report on January 29 outlined that office jobs are no longer being hyped given that there is a higher demand for online jobs. Popular among them are writers, API, and Blockchain.