As Bitcoin becomes more mainstream, there is a growing demand for Bitcoin-related services. Of these, cryptocurrency development is near the top of the list regarding career opportunities and potential for growth.
What does a Cryptocurrency Developer do?
At its most basic level, cryptocurrency developers write code that makes it possible to use Bitcoin in many ways. It includes code for mining, software wallets, payment processing, and more.
With the creation of new cryptocurrencies on the rise, so are the opportunities to get paid to write code for them. There are dozens of altcoins now with dedicated development teams looking for skilled developers to help advance the project.
Below are the roles and responsibilities of a crypto developer:
- Writing software for mining
The process of confirming transactions on the blockchain is called mining, and it takes quite a bit of processing power. As more miners compete to verify the next block on the chain, they need hardware to handle more complex algorithms at higher speeds.
Cryptocurrency developers are in high demand because every new coin needs its proprietary mining GUI. Mining software is only the tip of the iceberg, though. Blockchain engineers who can program in C++ are even more rare and command an even higher salary.
- Writing software for payment processing
Along with mining, one of the oldest Bitcoin-related careers is cryptocurrency payment processing. It came about as soon as people realized that they could use Bitcoin to pay for goods and services online.
It is where cryptocurrency developers shine because every new coin needs its proprietary payment processor. Many online merchants now accept dozens of different cryptocurrencies, which means that any developer interested in this career path has a lot of work to do.
- Writing wallets
The final puzzle piece for any new cryptocurrency is a user-friendly wallet with an easy-to-understand user interface. A slick suite of software that makes it as easy as possible to store and spend coins is essential to widespread adoption, and this also calls for devs with extensive experience in UI design.
- Writing code for coin exchanges
Cryptocurrency exchanges are different from stock exchanges in that they mostly trade between various cryptocurrencies rather than fiat currency. While dozens of cryptocurrency exchanges are already in operation, the number of new ones is only increasing as interest in altcoins surges.
As with wallets, coin exchange developers have to know what they’re doing when it comes to UX design. A good exchange app needs to be intuitive and feature-rich with a wide variety of options, including a market tracker that can keep up with the volatility of Bitcoin.
- Writing code for gambling sites
Lastly, there is plenty of demand from people who want to make money from Bitcoin by playing games or placing bets. Some of the best Bitcoin gambling sites out there are now offering a wide range of coin options, including dogecoin and litecoin.
The truth is that the cryptocurrency market is getting more crowded every month. There are more cryptocurrencies out there, which means more developers’ opportunities. Anyone interested in entering the world of blockchain technology should do plenty of research to familiarize themselves with what’s already available before considering starting their projects.