The demand for people with Blockchain skills is high. Due to its many fields of application, it is looking to hire those who have the skill set to navigate this new technology. Of course, just like with any other fantastic job opportunity, not everyone is cut out for these opportunities.

You must have or acquire the skills that set you apart and make an employer want to entrust you with their investment. This article will get you ready to take the right steps in your career as a blockchain analyst.

• What is Blockchain?
• Blockchain Job Description
• How do I Start a Career in Blockchain?
• What is Blockchain in Law?
• How Much Does a Blockchain Developer Earn?
• What Does a Blockchain Legal Analyst do?
• Blockchain Legal Jobs
• Blockchain Lawyer Salary
• Blockchain Analyst
• Blockchain Career Salary
• Blockchain Career
• Blockchain Product Manager
• Does Blockchain Require Coding?
• How Can I Get Blockchain For Free?
• How Much Does it Cost to Build a Blockchain?
• How do You Make Money on Blockchain?
• Blockchain Jobs Salary

What is Blockchain?

Blockchain is a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system.

A blockchain is essentially a digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on the blockchain. Each block in the chain contains a number of transactions, and every time a new transaction occurs on the blockchain, a record of that transaction is added to every participant’s ledger. The decentralized database managed by multiple participants is known as Distributed Ledger Technology (DLT).

Read Also: Crypto Legal Analyst

Blockchain is a type of DLT in which transactions are recorded with an immutable cryptographic signature called a hash.

This means if one block in one chain was changed, it would be immediately apparent it had been tampered with. If hackers wanted to corrupt a blockchain system, they would have to change every block in the chain, across all of the distributed versions of the chain.

Blockchains such as Bitcoin and Ethereum are constantly and continually growing as blocks are being added to the chain, which significantly adds to the security of the ledger.

Blockchain Job Description

Blockchain developers enable secure digital transactions by creating systems to record and store blockchain data in a way that prevents changes or hacks. They design secure blockchain technologies, develop application features and interfaces, and maintain client and server-side applications.

Below is an example of a blockchain job description

We are looking for a highly capable blockchain developer to design, implement, and distribute a secure blockchain-based network. You will be analyzing our blockchain needs, designing customized blockchain technologies, and launching and maintaining our blockchain network.

To ensure success as a blockchain developer, you should possess extensive knowledge of programming languages used for blockchain development and experience in cryptography. An outstanding blockchain developer will be someone whose expertise translates into secure, fast, and efficient digital transactions.

Blockchain Developer Responsibilities:

• Collaborating with managers to determine blockchain technology needs and envisaged functionalities.
• Creating application features and interfaces by using programming languages and writing multithreaded codes.
• Applying the latest cryptology techniques to protect digital transaction data against cyberattacks and information hacks.
• Maintaining client and server-side applications.
• Optimizing and securing blockchain applications by integrating new tools and technologies.
• Educating sales personnel on blockchain features that allow secure digital payments.
• Documenting blockchain development processes and complying with best practices in data protection.
• Keeping up with current blockchain technologies and cryptography methods.

How do I Start a Career in Blockchain?

Here is an outline of the ten best tips for starting your career in a blockchain-based job role.

1. Enroll in Free Blockchain Courses

The first concern for any beginner in the blockchain field should be access to a sufficient amount of learning resources. If you have decided to start a career in blockchain, then you must have painted quite a complicated picture out of it. As a matter of fact, it is important for beginners to approach blockchain education and training from a simple perspective.

Beginners must find free blockchain courses that can give them an introduction to the world of blockchain. Without any idea of the fundamentals of the industry you would build your career in, there is hardly any chance for success.

However, you can avail comprehensive and highly effective free blockchain courses for studying the basic concepts of blockchain. The free courses do not put any financial pressure on beginners and are great platforms to know about blockchain and its uses.

2. Know All Basic Terms in Blockchain

The next important mention among tips to start a career in blockchain refers to the development of fluency in basic terminology. The unique nature of blockchain depends largely on its structure and functionalities. The terms such as decentralized apps, consensus mechanisms, smart contracts, and others are more than mere buzzwords you find with blockchain.

They are highly crucial components in the blockchain ecosystem and are mandatory for blockchain professionals in almost any role. The knowledge of fundamental terms not only improves the basic knowledge of blockchain but also builds the foundation for understanding its practical uses.

3. Use YouTube Videos for Learning

Beginners aspiring to start a career in blockchain should also support their learning journey with YouTube videos. YouTube is not only a source of entertainment but also a massive repository of blockchain-related videos.

Beginners can explore tutorial videos and webinar recordings related to blockchain on YouTube. In addition, YouTube videos can also include practical demonstrations of various blockchain use cases.

Therefore, you must choose some of the top-rated Blockchain YouTube channels on blockchain technology and subscribe them immediately. The interactive content in blockchain-related YouTube videos helps every beginner learn blockchain from an interesting perspective. Most important of all, YouTube videos are great sources to stay updated with new trends in the world of blockchain.

4. Participate in Blockchain Events and Conferences

Blockchain is an emerging technology and draws its strengths from the contributions of millions of professionals worldwide. If you want to start a career in blockchain, it is important to find your way around the industry dynamics. The prospects for your career development with blockchain technology depend on your industry expertise.

The best platform to develop your industry knowledge of blockchain is available for beginners in blockchain events and conferences. Industry experts from all corners of the world, senior industry leaders in blockchain across various industries, and many blockchain enthusiasts gather at blockchain events and conferences.

These places provide much-needed exposure to the world of blockchain beyond the books and tutorials. Beginners can develop not only their knowledge of the real potential of blockchain technology but also develop professional contacts at blockchain events and conferences.

5. Improve Skills in Cryptography

You must focus on the technical skills required to start a career in blockchain. One of the notable skills required for blockchain professionals is cryptography. Blockchain adoption depends considerably on the assurance of security of data, and cryptography expertise can add formidable advantage to the career of a blockchain professional.

Enterprises dealing with massive amounts of sensitive information and numerous financial transactions on a day-to-day basis cannot afford risks or vulnerabilities in their blockchain infrastructure. So, hiring managers look for cryptography as one of the basic skill requirements for different blockchain-based roles.

6. Develop Programming Knowledge and Expertise

Another basic skill requirement for beginning a career in blockchain is programming. Programming expertise is mandatory for blockchain professionals, and you need fluency in at least one of the high-level programming languages. Beginners should take adequate time to find online training courses and sign up for them immediately.

Candidates with a degree in computer science or information technology have a competitive advantage for beginning a career in blockchain.

For example, a developer in the blockchain would need expertise in JavaScript for creating smart contracts according to application specifications and requirements. Therefore, programming skills are a basic requirement to strengthen the foundation of your blockchain career.

7. Learn about Distributed Computing

If you are aspiring to build a career in blockchain, then you must develop expertise in distributed computing. Blockchain is a distributed system, and aspiring candidates must familiarize themselves with distributed computing to leverage its functionalities efficiency.

Cryptocurrencies brought the concept of distributed network with a trust factor and, with blockchain being the underlying technology, spelled new opportunities for uses of blockchain.

Comprehensive knowledge of distributed computing can help in developing the confidence of using blockchain on any platform in any environment. Furthermore, distributed computing expertise also plays a crucial role in strengthening the fundamentals of the working of blockchain.

8. Community Involvement

Be an active member of blockchain communities, and you can gain many promising outcomes. This may sound like a slogan, and even if it is, it has the potential to drive benefits for aspiring blockchain professionals. Blockchain communities and discussion forums are the perfect sources to hone your blockchain knowledge and expertise.

The discussions on blockchain technology can provide your new insights and guidance to start a career in blockchain. In addition, the blockchain communities are also ideal platforms for building your own professional network and explore career opportunities.

9. Take the Initiative for your Career

The most important step for any candidate aspiring to build the blockchain career is initiative. You have to take a head-on dive into the world of blockchain and start searching for jobs suiting your skillset. Nobody is going to come over and ask you to join a blockchain-based job because you have the skills.

Candidates have to put effort into building up their professional portfolio with highlights of their qualification for blockchain jobs. Professional networking platforms such as LinkedIn can be trustworthy sources to start developing your reach to notable job opportunities in the market.

10. Achieve Blockchain Certification

The final, yet the most crucial recommendation for candidates aspiring to build a career in blockchain, refer to blockchain certification. Blockchain certification is a trusted and credible method to start a career in blockchain. They provide tangible proof of an individual’s blockchain expertise and capabilities to address responsibilities in specific roles.

The training and education required for blockchain certification alongside comprehensive exam objectives ensure the validation of skills of qualified candidates. In addition, many certification exams focus primarily on performance-based evaluation of candidates. Therefore, certified candidates also showcase the ability to solve real use case scenarios in blockchain applications.

What is Blockchain in Law?

Lawyers can leverage blockchain technology to streamline and simplify their transactional work, digitally sign and immutably store legal agreements. Using scripted text, smart contracts, and automated contract management reduces excessive time spent preparing, personalizing and maintaining standard law documents.

These cost savings are passed on to the customer. Additionally, blockchain democratizes access to the justice system by cutting down on consumer complexity and lowering hefty legal fees.

Many of the manual tasks can be carried out automatically, which significantly decreases the hours allocated to drafting and amending legal documents. This cost is generally passed down to clients, which pushes hourly lawyer fees to astronomical rates.

The introduction of smart contracts will accelerate and lower the cost of transactions between parties. A cost-efficient algorithm can automatically and transparently manage escrow accounts at a fraction of the cost of manual labor. Lower costs will increase the overall demand and accessibility for legal services.

There are several possible Enterprise Ethereum blockchain applications across the legal industry. Here are some of the top use cases that ConsenSys has identified:

• Electronic Signatures
• Intellectual Property
• Property Rights
• Chain of Custody
• Tokenization
• Decentralized Autonomous Organizations (DAO)
• Limited Liability Autonomous Organizations (LAO)
• Automated Regulatory Compliance
• Machine to Machine Payments
• Blockchain-Based Arbitration System

How Much Does a Blockchain Developer Earn?

Blockchain developer salaries are taking off world-wide as 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 are a few 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.

• Average annual salary of a blockchain developer in India is over ₹460K
• Average annual salary of a blockchain developer in the US is over $96K
• Average annual salary of a blockchain developer in the UK is over £68,000
• Average annual salary of a blockchain developer in Singapore is around S$95,865
• Average annual salary of a blockchain developer in Canada is $95,000 CAD
• Average annual salary of a blockchain developer in Germany ranges from $60K to $150K 
• Average annual salary of a blockchain developer in Switzerland is USD 180,000
• Average annual salary of a blockchain developer in Canada is C$136,500. Additionally, an entry-level position averages C$78,500
• Average annual salary of a blockchain developer in China ranges from Standard ¥45k to ¥60k, according to the Blockchain Council. Directors and managers earn approximately ¥60k to ¥120k.

What Does a Blockchain Legal Analyst do?

Crypto/blockchain legal professionals offer advice to businesses on how to structure offerings for crypto assets as well as manage such contracts. Amid calls for stiffer regulation in the cryptoverse, these all-important professionals guide fintechs and crypto exchanges on how to meet the regulations laid down by their respective jurisdictions. Having good communication skills is an added advantage to this type of job.

Blockchain Legal Jobs

Blockchain legal analyst are in high demand and earn a good salary. That’s great, the next question is how do you get one of these fantastic jobs and earn the best blockchain salaries out there?

The internet is your greatest ally in the quest for finding the best blockchain legal analyst salaries and 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.

Blockchain Lawyer Salary

The lack of professionals in the industry means that the existing experts receive great remunerations. Already, professionals who are in this industry are paid much higher than those still using the typical financial structures.

If you are considering entering this industry, then you can look forward to a great salary. This is probably the most compelling reason why you should enter these industries. As you become an expert, you can expect your salary to continue to increase. More jobs but few workers allows you to negotiate great salaries. You should expect to earn around $100,000 – $190,000.

Blockchain Analyst

A blockchain is a data-keeping ledger that can be distributed among a group but has safeguards to prevent data manipulation. Blockchain analysts examine the data in and usage of these ledgers to determine the effectiveness of the blockchain, identify areas for improvement, and develop strategies for implementing changes.

This is still a relatively new position, and many companies are still determining both if and how to use blockchain analysis as part of their overall business strategy, so your daily responsibilities could vary greatly, depending on your employer.

This job title currently refers to analyzing blockchain performance and should not be confused with roles that work with the programming or security of different blockchain systems.

Blockchain Career Salary

There are numerous career opportunities and positions that are waiting for you in the field of this growing technology. Let’s take a look at the top blockchain jobs at the moment and as we head into 2021.

1. Blockchain Developer

Blockchain developer is one of the popular blockchain jobs in the market. These are basically programmers who are hired to develop applications using the blockchain technology.

The popularity and high-ranking position mean that they have to provide excellent services and have an intimate knowledge of the technology. There are two kinds of blockchain developers – blockchain software developers and core blockchain developers.

Top companies in the financial sectors, tech firms, and governments are vying to hire the best blockchain developers. There is a wide range of technical skills that are needed in order to become a developer.

These include an understanding of the working and architecture of blockchain, cryptography, data structure, and web development. Also, experience in working with python, C++, .NET, XML, etc. are appreciated.

According to Glassdoor, the average blockchain developer salary is $ 91,713/year.

2. Blockchain Architect

Being a blockchain architect means that you have to assign, design, and connect the various Blockchain solution parts. You have to do this with the cooperation of other departments like network administrators, IT Operations, developers, and UX designers.

The blockchain job requires interested candidates to be informed about the latest developments in blockchain technology. The skills that are taken into account for this job are – React, CSS, HTML, React, Python, Generic SQL, and Node. Also, experience ion DevOps, data science, and cryptography are essential. Moreover, hands-on experience in the development of blockchain is a bonus.

According to Indeed, the average salary of a blockchain solution architect is $ 114,763/year.

3. Blockchain Administrator

Blockchain administrators are responsible for creating, developing, and maintaining coordinated operations of all components in a blockchain infrastructure.

Primarily, blockchain administrators have to deal with leveraging the best capabilities of different blockchain teams to deliver business value. Blockchain administrators are also responsible for monitoring the health of different services and tools implemented in a blockchain infrastructure.

Blockchain administrator is one of the most sought after entry-level blockchain jobs with the requirement of promising skills. Candidates aspiring for the role of blockchain administrator should have comprehensive fluency in the working of Bitcoin protocol, knowledge of high-level programming languages, and proficiency in using Linux/UNIX in coordination.

In addition, blockchain administrators need an in-depth understanding and expertise in networking infrastructure, virtualization, and networking services and protocols. 

As per a report from ITJobsWatch, the average salary of a blockchain administrator is £67,500/year.

4. Blockchain Project Manager

Blockchain project managers are responsible for developing a connection between the company and Blockchain experts. They have to portray the needs of a firm and make sure that the experts understand the requirements. Again, when the blockchain professional delivers, they have to convert the technical aspects in a way that is understandable by the firm.

The much-needed skills for this type of blockchain jobs extend far beyond the understanding of blockchain technology. The candidate must also have the skills of a regular project manager. Another vital aspect that is essential is communication skills. Without effective communication skills, it will become near impossible to make the non-technical workers understand the job they need to do.

According to a report from indeed, the average blockchain job salary of a project manager is $ 106,891/year.

5. Blockchain UX Designer

It is the responsibility of the blockchain UX Designer to develop a unique but user-friendly interface. The UX designer must ensure that the interface is intriguing, simple, and keeps the users hooked. Most of the startups, as well as the popular companies, prefer the launching of the blockchain technology with a user experience that will propel the success of their venture.

The individuals seeking these blockchain jobs must display creativity, technical skills, and effective knowledge about the blockchain technology. Only if they are fully aware of the benefits can they work towards making it known for everyone? Moreover, efficient communication skills are also needed. It is because the candidate has to work closely with the operations, content, and marketing departments.

As per the report from cryptocurrency jobs, the average base salary of a blockchain UI/UX designer is $107,500 per year.

6. Blockchain Quality Engineer

A blockchain quality engineer must ensure that all the various areas blockchain and development are of top-quality. These blockchain jobs include manual testing, automation frameworks, and tests, and dashboards.

The application made also has to be tested for glitches or bugs. If any are found, then it is the duty of the individual to report to the concerned departments and ensure that the final product is bug-free.

The applicants must have extensive knowledge of the working of blockchain platforms. Moreover, problem-solving, communication and quick-thinking skills are necessary to excel in this job position. It is one of the highest paying blockchain jobs.

According to Glassdoor, the average base salary of a blockchain quality engineer is $ 107k – $ 117K per year.

7. Blockchain Consultant

One of the highest paying blockchain jobs is the blockchain consultant. The core responsibilities include devising strategies, forming solutions, and offering technical knowledge. Assessing and managing risks is also part of the job description.

There are different kinds of blockchain jobs in the field of blockchain consultant. You can opt for the one which matches your skillset the most. Keep in mind that intrinsic knowledge about the blockchain technology is required for every job.

As per the Glassdoor salary report, the average base salary of a blockchain consultant is $31,794/year.

8. Blockchain Legal Consultant

With the growth of blockchain technology, it has become vital for firms to be aware of the legal jargon associated with it. This includes forming legal partnerships, advising the firms on the structuring of cryptocurrency offerings, and overlooking the contracts. Also, they have to ensure that the establishment is in accordance with the financial regulations set by a specific country.

The requirements for these blockchain jobs include knowledge about the legal implications of blockchain technology, the fintech regulations of the nation, and communication skills. Moreover, knowledge about smart contracts is essential.

As per reports, the average base salary of a blockchain legal consultant is $100,000 to $190,000/year.

9. Blockchain Engineer

The chief responsibility of a blockchain engineer includes creating an application that reflects the technological aspects of a company. The most desired skill that is looked for in this blockchain jobs is the mindset to constantly learn and adapt to new things.

Apart from the technical programming skills, the individual must also be proficient in the economic aspect of blockchain engineering. It includes the understanding of concepts like supply and demand, incentivization, etc.

As per a salary report from indeed, the average salary of blockchain engineer is $ 70,483 per year.

10. Blockchain Analyst

Blockchain analysts are of two distinct types – business analysts and risk analysts. The duty of the business analyst is to develop effective business strategies for the blockchain app. They are also responsible for the identification of areas that need improvement. These blockchain careers have massive scope for growth.

The risk analyst must assess the risk factors that are associated with the blockchain application. They identify the potential risks and offer effective solutions to counteract them. The necessary skills required for the position of a blockchain analyst include comprehensive knowledge of blockchain and expertise in the related technical skills.

According to a salary survey, the blockchain job salary of a risk analyst is $ 93,450 per year.

Blockchain Career

Due to its many fields of application, it is looking to hire those who have the skills set to navigate this new technology. Of course, just like with any other fantastic job opportunities, not everyone is cut out for these opportunities. You must have or acquire the skills that set you apart and make an employer want to entrust you with their investment.

Here are some of those positions:

Blockchain developer

Blockchain developers with the expertise to help companies explore Blockchain platforms are in high demand. Blockchain development might be the most marketable career path today because people are eager to realize all the benefits of Blockchain. These individuals require absolute attention to detail as theirs is a high ranking position.

Blockchain developers are programmers who create applications for blockchain. They typically have a lot of experience working with C++, Python, and Javascript before becoming Blockchain developers.

Blockchain Solution Architect

The Blockchain Solution Architect has the responsibility of designing, assigning, and connecting Blockchain solution components with the team experts such as developers, network administrators, UX designers, and IT Operations whose to develop to complete the Blockchain solutions.

Blockchain project manager

This individual is entrusted with the responsibility of connecting Blockchain projects to experts whose duty it is to develop Blockchain solutions. Blockchain project managers need to be equipped with the skills of a traditional (cloud) project manager. They also need to master the technical bit to understand the technology thoroughly.

Another important ability is excellent communication skills; this is essential when addressing non-technical workers, when providing useful updates or when trying to get resources from higher authorities.

Blockchain UX designer

With the incorporation of Blockchain into so many industries, its design as well as user interface, is becoming critical. The role of a Blockchain designer is shaping a user interface that creates trust and is alluring to a regular user.

These individuals need to be able to pay attention to detail, have an artistic touch, but most importantly they need to be hardworking as their line of work requires them to spend countless hours behind their computers.

Blockchain quality engineer

In any development environment, we have a quality assurance engineer who tests and ensures that all areas of the project are of the required quality. In the Blockchain world, a Blockchain engineer plays a similar role by guaranteeing that all operations are of excellence in the Blockchain development environment.

In other words, they conduct the testing and automation of frameworks for Blockchain. These individuals need to have a third eye as far as payment to detail is concerned because a small mistake on their part affects everyone using their technology. Excellent communication skills would also go a long way in maintaining good work relationships.

Blockchain legal consultant

Of course, as organizations try to comprehend the adoption of Blockchain into their systems legal issues always arise. As companies launch this new technology, they are also looking for legal expertise on what considerations to make while investing. They are curious about the implications of their actions, about how to handle their finances, and lastly how to manage their identity.

Of course, for such an individual, proper communication skills are mandatory. You also need to have a good grasp of your international law as Blockchain is tech without borders for the same reason it is advisable that such people master as many universal languages as they can.

Blockchain Product Manager

A blockchain product manager is responsible for developing blockchain-based products in a company. In reality, this practice is called product management. Basically, the product managers are capable of creating a strategy behind a product and oversee the launch of that product from start to the very end.

More so, they may have to coordinate between the work done by others, such as product designers, data scientists, and software engineers. Without a capable product manager, it’s challenging to make a product successful.

Blockchain product manager jobs include responsibilities like ensuring the product meets with the user’s needs, researching the market for valuable inputs, and so on. Anyhow, the responsibility will likely vary as the product goes through various phases of development. In the earlier stage, it will focus on customer analysis and resource management. In later parts, it will move to testing out the product and launching it effectively.

Not only that, but the product manager also ensures that all the members of the team are in harmony and follow the primary goal of the product. Therefore, to stay relevant in the markets, the manager needs to come up with new ideas.

So, you see, it’s actually an essential position because, without a blockchain project manager, it’s not possible to successfully create a product.

Does Blockchain Require Coding?

One should also understand the data structure to learn about the complex nature of Blockchain. In the Blockchain, the data is stored in the form of blocks and not in the form of tables. Databases are replicated across the whole network, which is called distributed ledger. The integrity of data in the blocks is maintained by using cryptography.

A blockchain developer should know how Data Structures work such as linked lists, graphs, hash maps, search trees and many more. The skill of building the data structure from scratch is also essential for the blockchain developer.

Knowledge of programming languages like C++, C-Sharp, C, Scala, Java, Python is also required. An individual can learn all the necessary knowledge about algorithms and data structures from the repository on GitHub.

How Can I Get Blockchain For Free?

How to get free $25 in Blockchain giveaway

To claim your free crypto, simply visit Blockchain (https://www.blockchain.com/getcrypto) and click the “Claim your free XLM” tab by the right

Blockchain homepage (get free $25 in Blockchain giveaway)

You’ll be redirected to a new page where you’ll fill in your email address in the space provided (See screenshot below).

Fill in your email address and complete the CAPTCHA (Get free $25 in Blockchain giveaway)

Complete the CAPTCHA and hit “Join Waitlist”

Successfully joined the waitlist? You’ll receive “an email with instructions when it’s your turn to claim your XLM”.

From the information available on the Blockchain site, the global wallet provider is giving away the free XLM to help “users interact with crypto assets in a safe and easy way” and this giveaway is a way of helping “build a bigger community of crypto users”.

The global wallet provider is partnering with the Stellar Development Foundation to give away the free Stellar Lumens (XLM) to their wallet users.

What do you need to get free $25 in Blockchain giveaway?

To claim your free XLM, you need to own a Blockchain wallet. Opening a new wallet if you don’t already have one is very easy, all you need is a verifiable email address. If you already have a wallet, great! You don’t need to open a new one.

Additionally, you’ll need to verify your identity to prevent gaming of the system (multiple registrations from participants to claim more XLM than they are entitled to).

Based on available information, when you’ve verified your identity, you’ll receive $25 worth of XLM! The company also promises additional giveaways for verified wallet owners.

How Much Does it Cost to Build a Blockchain?

Considering the factors that can influence the cost of blockchain app development, you can analyze the cost of implementing such solutions. Before you think about the blockchain app implementation it is important to go through some questions-

• Do you need to create a blockchain application with an existing product?
• What type of blockchain hosting will suit your product i.e. public or private?
• Do you need cloud computing for your blockchain network?
• How many users can interact through your platform?

To determine the exact cost estimate for a blockchain application it is important to take an account of various factors. Few things that you have to consider while choosing the mobile application development companies provider are- the size of the company, industry-specific app development cost, consensus management, app development platform, etc.

• App development company size-small scale companies usually charge less than the established organizations on medium app development companies. On the contrary large enterprises are selected in terms of delivering their services and there are various reasons for the same cause. Blockchain app development by small and midsize companies will give you access to a team having a hundred or more experts and it will cost you somewhere between $25k to $250k. Blockchain app development by large companies will give you access to a team having more than 500 experts (it can be less or more depending upon your project requirements) and it will cost you somewhere between $450k to $1000kh.

On the contrary blockchain applications developed by small companies for freelancers with a team size of 50 experts will cost you $2k to $30k.

• Application complexity- in terms of blockchain application development complex City there are various factors involved that contribute to the overall cost. To get a clear estimate you can get an overview of the existing solutions, your customers, and market size. it will help you determine the type of blockchain application you are willing to invest in. You can also consider the Technologies like consensus mechanism, application programming interfaces, a blockchain platform, user interface/ experience, among the others prior to initiating development. Applications with low-level complexity will cost you $15k to $35k. Applications with medium or high-end complexity will cost you $30k to $200k.
• Blockchain app services- hiring the best Blockchain development company will give you access to the core blockchain solutions like crypto wallet, initial coin offering, crypto exchange, distributed ledger technology, distributed applications, and many more. Your decision to choose a public and private blockchain development approach will also affect the cost to develop such a solution. It is because private blockchain refers to a permission-based network which implies that you will have to request central access every time by making transactions. On the contrary public network is based on pre-existing solutions and it doesn’t require centralized authorization. There is a huge difference between their development costs.

Considering all the aforementioned features the average range creating a blockchain application is $50k to $1500k.

The standard cost to develop or implement blockchain application technologies is derived from various sources like open source tools, web development team, analytical verticals, feature integration, and many more. All these factors provide an oriented representation of the blockchain app development range.

The cost of setting any blockchain application requires a strong project estimation about its cost to develop or implement. And the use cases, project complexities, blockchain app development approach are more likely to affect the overall cost of the project.

It is difficult to have a close estimate about the Bitcoin app development but depending upon your project specifications the average cost is around $5k to $500k. To get a close estimate you can discuss the scope of your blockchain application, security requirements, blockchain platform integrations, API integration, and various features at the start of the application project.

How do You Make Money on Blockchain?

Trading

This can be a risky endeavor for newcomers to the blockchain industry, but trading Bitcoins (and other cryptocurrencies) is incredibly lucrative.³ For several years now, crypto enthusiasts and bitcoiners have advocated the benefits of acquiring these digital assets.

These days, because worldwide governments shut down economies in response to the Covid-19 outbreak, almost everyone is on the lookout for side gigs and alternative earning opportunities on the Internet.

Enter Bitcoin trading.

Perhaps you’re good at chart analysis and asset trading; you’ll be pleased to know that there’s an opportunity for you to make considerable profits by regularly swapping digital assets online. 

However, learning how to trade Bitcoins isn’t easy. If you’re looking to make money with blockchain through crypto trading, you’ll first have to make a few digital asset purchases and then make the correct market moves by knowing exactly when to trade.

To do this well, you must hone your trading skills through regular practice by studying technical charts, analyzing trends, keeping up with global news and other factors that affect cryptocurrency prices.

Anyone can make a career out of trading popular digital assets on crypto markets. Unlike the stock market, trading goes on non-stop, so you can grow your assets and profits online with each passing day.

Accepting Digital Currencies as Payment for Goods or Services

Getting paid in cryptocurrencies is a viable alternative to accepting fiat currency or other digital payments. Businesses and individuals can offer this payment option to their customer base in addition to receiving credit or debit transactions, thus providing a choice that alleviates personal security concerns.

Not only will this method help you accrue cryptocurrency, but it can also help you reach a potential customer base that may not have considered your business before.

However, businesses that wish to accept cryptocurrencies must do so through payment gateways. These gateways and cryptocurrency merchant solutions also facilitate automatic calculations and convert the fiat value of goods or services into the cryptocurrency equivalent. 

Developing a digital payment solution that accepts various cryptocurrencies and then offering businesses access to it is another way to make money with blockchain technology. 

Mining

Cryptocurrencies can be mined by using computer processing power to calculate complex mathematical equations. While professional miners use specially designed CPUs, many companies have developed handy blockchain mining applications for mobile devices and PC systems.

ASIC mining & GPU mining are currently the two main choices for earning cryptocurrency in the blockchain space. With a little startup capital and affordable electricity (it takes a lot of power), anyone can earn digital assets directly on their mobile or PC device.

Any cryptocurrency obtained can be used to pay for goods and services across various online platforms, or even transferred to your regular bank account in the form of fiat currency.

However, there are some drawbacks to consider. ASIC & GPU mining processes will use up a considerable amount of your device’s processing power and might make your operating system slower as a result. Moreover, exploring all the available mining potentials will require your mining devices to run continuously so that you can make more profit.

Another option is to use blockchain apps designed to leverage cloud-based computing power. With cloud mining, investors can earn and accumulate digital assets without any hardware or prior mining experience.

Freelancing, Blogging and Other Online Tasks

You can perform various crypto earning activities on popular freelance websites like Freelanceforcoins.com, Ethlance, Cryptocurrencyjobs.co and others.

Some of these opportunities will involve performing simple tasks such as editing or writing essays, completing online surveys and blogging. Depending on the site you work for, you may be paid in cryptocurrency or fiat currency.

Either way, if you have a way with words and an interest in blockchain, blogging on a regular basis and producing unique content can be a dependable stream of revenue if you’re consistent enough.

Blockchain Development

Even though Blockchain technology is still in its infancy, there is currently a global demand for blockchain engineers and developers. This might be the perfect opportunity for people with the relevant skills to make profound career changes.

Read Also: How do You Become a Crypto Developer?

What’s more, you don’t need to quit your job or move to a different city to acquire a blockchain qualification. Online blockchain courses allow you to study anywhere at your own pace and develop the skills and certifications to join the growing number of blockchain experts worldwide.

Blockchain Jobs Salary

• The average base salary for a blockchain developer in Asia is $87,500 per year, with a low base salary of $60,000 and a high base salary of $120,000.
• The average base salary for a blockchain developer in Europe is $73,300 per year, with a low base salary of $55,000 and a high base salary of $91,000.
• The average base salary for a blockchain developer in the U.S. is $136,000 per year, with a low base salary of $70,000 and a high base salary of $200,000.
• The average base salary for a remote blockchain developer is $123,750 per year, with a low base salary of $70,000 and a high base salary of $200,000.

Job title	Asia	Canada	Europe	US	Remote
Backend Developer	–	–	$85,000	$110,000	$102,300
Blockchain Developer	$87,500	–	$73,300	$136,000	$123,700
Business Development	$105,000	–	–	$122,500	–
Community Manager	–	–	$57,000	$80,000	$61,000
Customer Support	–	$40,000	$55,000	$77,500	–
Developer	–	$67,500	$72,000	$125,700	$103,000
Engineer	$87,500	$86,000	$80,700	$127,000	$128,400
Frontend Developer	–	–	$70,000	$115,000	$85,000
Full Stack Developer	–	$62,500	$66,000	$100,000	$90,000
Graphic Designer	–	–	$74,000	$70,000	–
Office Manager	–	–	$40,600	$59,000	$40,000
Product Designer	$76,500	–	–	$112,500	$100,000
Software Engineer	–	$90,000	$94,000	$119,000	$107,000
Solidity Developer	$125,000	–	–	$127,500	$145,000
UI/UX Designer	–	$55,000	$77,000	$107,500	$75,000

Final Words

there are many more positions in the blockchain industry that you can apply for. It depends on the educational qualification, skill, and experience you have in a particular field. It is always advantageous to look out for careers in markets that are constantly growing. But, you must also assess the various aspects of a particular job before opting for it.

With the world becoming more enchanted with the blockchain technology, you have the chance to build a great career with a blockchain job. Suffice to say; blockchain is not going to vanish or crumble anytime soon.

As such, the demand for jobs will remain high, along with a favorable pay scale. Moreover, if you are passionate about blockchain technology, you should get your blockchain expert certification and find the endeavors even more exciting.