The Best Countries For a Career In Crypto and Blockchain

The Best Countries For a Career In Crypto and Blockchain

By Benson Toti - min read

The world of cryptocurrencies has exploded in recent years, going from a niche interest that the majority of people and investors struggled to understand, to a global financial revolution the likes of which has never been seen before.

Cryptocurrencies can now be traded at any time and place with just a tap on your smartphone, as trading apps have sprung up to offer crypto investors a wide variety of choices when it comes to selecting the best crypto exchange for them.

With this huge increase in attention, understanding and acceptance, more people than ever before are getting into crypto. While trading cryptocurrencies offers the chance to get involved in this exciting new space in fintech, both for casual traders and professional investors, there is growing interest in actual employment opportunities within the crypto industry.

Between 2021 and 2022, there was a 601% increase in searches for “crypto jobs”, highlighting the growing interest that the sector is generating among job seekers. With this in mind, we’ve conducted a study of the crypto and blockchain jobs market to see where demand for new workers is highest, what salaries the industry can offer, and what universities were attended by the most successful figures in DeFi.

The countries with the most crypto jobs

countries with most crypto jobs

Cryptocurrencies are an exciting new form of digital currency that many believe will be the future of global finance. As crypto becomes more popular around the world, being adopted by an increasing number of people, businesses and even some governments, the industry as a whole has continued to expand and create jobs all around the world.

By looking at the number of job postings for positions that mention “crypto” in the job description, we can see which countries offer the most opportunities to get involved in this exciting new financial space.

Rank Country Population Crypto Jobs Crypto Jobs per Million People
1 Singapore 5,975,689 951 159.14
2 Luxembourg 647,599 36 55.59
3 Netherlands 17,564,014 389 22.15
4 Ireland 5,023,109 106 21.10
5 Switzerland 8,740,472 181 20.71
6 United States 338,289,857 5,700 16.85
7 United Kingdom 67,508,936 1,062 15.73
8 Israel 9,038,309 136 15.05
9 United Arab Emirates 9,441,129 137 14.51
10 Denmark 5,882,261 75 12.75
11 Australia 26,177,413 298 11.38
12 Canada 38,454,327 344 8.95
13 Portugal 10,270,865 87 8.47
14 France 64,626,628 437 6.76
15 New Zealand 5,185,288 29 5.59
16 Germany 83,369,843 450 5.40
17 Romania 19,659,267 105 5.34
18 Belgium 11,655,930 62 5.32
19 Spain 47,558,630 225 4.73
20 Norway 5,434,319 25 4.60

1. Singapore Crypto jobs per million people: 159.14

Singapore is the country with the highest number of crypto job listings compared to its population size, with 159.14 crypto jobs per million people. This is by far the highest relative number of crypto job listings, being almost three times as many as any other country.

Singapore is well-known for being a forward-looking country that is highly adaptive and technologically advanced, while also having a long history as a regional hub of trade and commerce. Therefore, it comes as no surprise that the cryptocurrency industry is booming in this Asian city-state.

2. Luxembourg Crypto jobs per million people: 55.59

Luxembourg has the second highest rate of crypto job listings compared to its population, with 55.59 per million people. According to the OEC, Luxembourg’s biggest export is financial services, the value of which stood at $86.7 billion in 2018. Being such a busy financial centre and influential country in the European Union, Luxembourg is a great place for European crypto startups to call home.

3. Netherlands Crypto jobs per million people: 22.15

The Netherlands has the third highest rate of crypto job listings in our study, with 22.15 jobs available per million people. The capital, Amsterdam, is a vibrant European city with a reputation for doing things its own way, as well as being the birthplace of the stock market, making it a natural fit for the new frontier of the crypto economy.

The countries with the most blockchain jobs

countries with most blockchain jobs

Blockchain technology is the backbone of the crypto economy, providing the tech on which cryptocurrencies and distributed ledgers are built. While blockchain technology has many applications outside of decentralised finance, the two are intrinsically linked, and the proliferation of blockchain tech only makes it easier to incorporate cryptocurrencies into the global economy.

In this section, we have searched specifically for job listings that mention “blockchain” in their descriptions to identify the countries where jobs relating to this expansive new technology are most common.

Rank Country Population Blockchain Jobs Blockchain Jobs per Million People
1 Luxembourg 647,599 224 345.89
2 Singapore 5,975,689 1,591 266.25
3 Switzerland 8,740,472 438 50.11
4 Ireland 5,023,109 171 34.04
5 United States 338,289,857 11,073 32.73
6 Germany 83,369,843 2,420 29.03
7 Israel 9,038,309 239 26.44
8 Denmark 5,882,261 155 26.35
9 Netherlands 17,564,014 425 24.20
10 Australia 26,177,413 529 20.21
11 United Kingdom 67,508,936 1,335 19.78
12 France 64,626,628 1,188 18.38
13 Belgium 11,655,930 193 16.56
14 United Arab Emirates 9,441,129 148 15.68
15 Portugal 10,270,865 143 13.92
16 Canada 38,454,327 514 13.37
17 Poland 39,857,145 506 12.70
18 Austria 8,939,617 109 12.19
19 Spain 47,558,630 535 11.25
20 Romania 19,659,267 212 10.78

1. Luxembourg Blockchain jobs per million people: 345.89

Luxembourg is the country with the most advertised blockchain-related jobs compared to its population, with 345.89 listings per million people. Having placed second for crypto jobs, it is clear that this small European country is becoming a centre of Web3 industries and activity.

2. Singapore Blockchain jobs per million people: 266.25

In second place, with 266.25 blockchain jobs per million people, is Singapore. Having also had the most crypto job listings of any country, Singapore is much like Luxembourg in that it is a small country with a rate of Web3 employment and activity that is by far the highest in its respective region.

3. Switzerland Blockchain jobs per million people: 50.11

Switzerland is the country with the third highest rate of blockchain job listings, with 50.11 per million people. Switzerland is a country that is often thought of as synonymous with banking and high-income individuals, so the high number of job listings for the technology that supports the biggest-ever disruption to global finance seems only natural.

Crypto salaries around the world

While the majority of those interested in making money from cryptocurrencies will look to invest directly via crypto exchanges, those with the necessary skills, experience and enthusiasm may consider working full-time in the burgeoning crypto economy.

In this section we will investigate how earnings in crypto-related jobs vary between locations, highlighting the best countries in the world for a high salary in the crypto industry.

The continental divide of crypto earnings

continental divide of crypto earnings list

Rank Location Average Annual Salary
1 North America $120,000
2 Remote $110,000
3 Europe $80,000
4 Oceania $70,000
5 Asia $50,000
6 Africa $47,000
7 South America $42,000

In this short inter-continental summary, we can see that North America offers workers the best average salary when working in crypto, with approximate annual earnings of $120,000. Remote roles then offer the second-highest remuneration of $110,000, with crypto workers in Europe earning the third-highest amount at $80,000 per year.

At the bottom end of the scale is South America, where average earnings in crypto roles are lowest at $42,000 per year, while African crypto workers earn slightly more at $47,000 per annum.

The countries with the highest crypto salaries

countries with highest salaries

Rank Country Average Yearly Salary
1 Latvia $170,000
2 Lebanon $150,000
2 Netherlands $150,000
4 United Arab Emirates $132,000
5 Germany $120,000
6 Australia $115,000
7 Portugal $110,000
7 Hong Kong $110,000
7 Egypt $110,000
10 Denmark $100,000
11 New Zealand $100,000
12 Mexico $100,000
13 Romania $100,000
14 Bangladesh $100,000
15 Switzerland $100,000
16 Japan $100,000
17 Bolivia $100,000
18 United States $100,000

1. Latvia Average Yearly Salary: $170,000

Latvia has the highest average crypto salary of $170,000, making it the most lucrative place to work in the crypto industry. The economy of this Baltic country is largely based on service industries, with the biggest three being transportation, information technology and financial services. The latter two of these sectors are particularly relevant for the blockchain and cryptocurrency sectors, making it prime territory for the development of cryptocurrency businesses.

2. Lebanon & the Netherlands Average Yearly Salary: $150,000

Lebanon and the Netherlands both tied for second place with an average annual salary in the crypto sector of $150,000. Finance is incredibly important to the Lebanese economy, with as much as 70% of the gross national product being attributed to services and banking sectors.

The Netherlands is also a well-established financial powerhouse, home to many global corporations as well as the bustling melting pot of Amsterdam, which has been shown to be a hive of activity within the crypto sphere.

The crypto and web3 jobs with the highest salaries

crypto and web3 salaries around the world

While working in the crypto industry offers fantastic opportunities for career growth and excellent salaries, not all roles are equally compensated. In this section, we will reveal the highest-earning crypto positions, as well as take a look at some of the more varied roles you can find within the sector.

Rank Job Title Average Yearly Salary
1 Lead Developer $120,000
1 Senior Developer $120,000
1 Smart Contract Developer $120,000
4 Architecture Developer $117,000
5 Machine Learning Engineer $113,000
6 Product Manager $112,000
7 Rust Developer $110,000
8 Mobile Developer $103,000
9 Backend Developer $100,000
10 Full Stack Developer $100,000
11 Golang Developer $100,000
12 Node Developer $100,000
13 Project Manager $100,000
14 React Developer $100,000
15 Solidity Developer $100,000
16 Javascript Developer $98,000
17 Blockchain Developer $94,000
18 Front End Developer $90,000
19 Finance roles $82,000
20 Design roles $80,000
21 Java Developer $80,000
22 Sales roles $75,000
23 Marketing roles $72,000
24 QA Engineer $71,000
25 Community Manager $70,000
26 Junior Developer $60,000
27 Social Media roles $50,000

1. Lead Developer, Senior Developer and Smart Contract Developer
Average Yearly Salary: $120,000

Three jobs were tied for having the highest average salary in the crypto and Web3 sectors, with those being Lead Developer, Senior Developer and Smart Contract Developer, all of which have an annual pay packet of $120,000.

Two of these roles, senior and lead developers, indicate having higher responsibilities than average employees in similar roles, thereby justifying the higher salary. The role of Smart Contract Developer is highly specialised so the required skills may be in short supply, meaning the role can command a higher salary.

Non-Developer roles

The majority of roles listed in this section are developer positions that are highly technical, which is indicative of the industry as a whole. However, there are some job roles present in every company which do not require specialist knowledge, though knowing the ins and outs of your chosen industry is always advantageous.

Salaries in blockchain and crypto companies remain relatively high for many non-developer roles. For example, positions in finance offer an average salary of $82,000, while jobs in design offer $80,000 and sales roles offer $75,000 per year. The lowest-earning positions are social media roles which come with an average annual salary of $50,000.

The courses studied by the world’s top crypto billionaires

courses studied by crypto billionaires

In this section, we have taken a closer look at the universities attended by some of the world’s wealthiest and most successful crypto businesspeople. All of these billionaires made their fortunes in the crypto industry, so the courses they studied could help future crypto-prodigies on the path to success.

1. Changpeng Zhao – Estimated worth: $17.4 billion

Alma Mater: McGill University
Studied: Computer Science

The wealthiest individual that we looked at is Changpeng Zhao, the co-founder and CEO of Binance, the world’s largest crypto exchange by trading volume. Zhao studied Computer Science at McGill University in Montreal, Canada, before being selected for an internship at a subcontractor of the Tokyo Stock Exchange, where he began his financial career developing software for matching trade orders. Following a long career in which he started several fintech companies, Zhao is now estimated to be worth an incredible $17.4 billion.

2. Sam Bankman-Fried – Estimated worth: $16.7 billion

Alma Mater: Massachusetts Institute of Technology (M.I.T.)
Studied: Physics and Mathematics

As of early November, Sam Bankman-Fried was the second most wealthy crypto CEO with an estimated net worth of $16.7 billion. Having studied Physics and Mathematics at the Massachusetts Institute of Technology (M.I.T), his first professional role was at trading firm Jane Street Capital where he began as an intern, progressing to a full-time employee upon graduation. Bankman-Fried founded his first company, Alameda Research, in 2017 and still retains a 90% stake, but he is perhaps most well-known as co-founder and CEO of FTX, one of the world’s largest crypto exchanges.

Unfortunately, Bankman-Fried’s fortunes have taken a severe downturn lately as FTX collapsed amid claims of “mishandled corporate funds” that revealed sister company Alameda Research had been using FTX clients’ funds to make risky trades and was subsequently bailed out by FTX using clients’ money to do so. This means that while Bankman-Fried was the second wealthiest crypto billionaire at the beginning of the month, his fortune will have mostly evaporated by December.

3. Gary Wang Estimated worth: $4.6 billion

Alma Mater: Massachusetts Institute of Technology (M.I.T.)
Studied: Mathematics and Computer Science

Gary Wang is the third wealthiest crypto entrepreneur with an estimated fortune of $4.6 billion. As co-founder of FTX alongside Sam Bankman-Fried, Wang serves as the cryptocurrency exchange’s CTO and owns approximately 16% of the company. Like his partner in founding FTX, Wang also attended M.I.T. where he studied Mathematics and Computer Science, graduating in 2015. Wang was then employed as a software engineer at Google for several years before founding FTX in 2019.

Like Sam Bankman-Fried, the majority of Wang’s wealth stemmed from the success of the FTX trading platform. So, with the sudden collapse of FTX, Gary Wang’s estimated fortune is expected to have plummeted by the end of the month.

Name Net Worth Source of Wealth Subject of Study
Changpeng Zhao $65 billion Binance Computer Science
Sam Bankman-Fried $24 billion FTX
Physics and Mathematics
Brian Armstrong $6.6 billion Coinbase
Economics and Computer Science
Gary Wang $5.9 billion FTX
Mathematics and Computer Science
Chris Larsen $4.3 billion Ripple
International Business and Accounting
Master of Business Administration (MBA)
Cameron Winklevoss $4 billion Bitcoin
Economics
Master of Business Administration (MBA)
Tyler Winklevoss $4 billion Bitcoin
Economics
Master of Business Administration (MBA)
Song Chi-hyung $3.7 billion Upbit
Computer Science and Economics
Jed McCaleb $2.5 billion Ripple, Stellar N/A (dropped out)
Joseph Lau $2.4 billion Alchemy N/A (unknown)
Nikil Viswanathan $2.4 billion Alchemy Computer Science
Alex Atallah $2.2 billion OpenSea
Computer Science
Cyber Security (Overseas Study Programme)
Devin Finzer $2.2 billion OpenSea
Computer Science and Mathematics
Fred Ehrsam $2.1 billion Coinbase
Computer Science and Economics
Kim Hyoung-nyon $1.9 billion Upbit
Agricultural Economics
Michael Saylor $1.6 billion MicroStrategy
Aeronautics and Astronautics; Science, Technology, and Society
Matthew Roszak $1.4 billion Bitcoin, other cryptocurrencies Economics
Tim Draper $1.2 billion Bitcoin, other cryptocurrencies
Electrical Engineering
Master of Business Administration (MBA)

Blockchain business leaders: the most popular universities

most popular universities

To shed more light on the best educational institutions for a successful career in blockchain, we’ve carried out a study of more than 150 CEOs, founders and chairmen of blockchain and cryptocurrency companies to see which universities have produced the most business leaders in the sector.

Rank University Blockchain Business Leaders
1 University of California 13
2 Harvard University 11
3 Stanford University 8
4 Massachusetts Institute of Technology 7
5 University of Michigan 6
5 University of Oxford 6
7 Cornell University 3
7 Duke University 3
7 New York University 3
7 San Francisco State University 3
7 University of Cambridge 3

1. University of California Blockchain business leaders: 13

The University of California has produced the most blockchain business leaders with as many as 13 being counted among their alumni. The University of California is one of the world’s leading public research universities and is comprised of ten separate campuses spread across the state of California. The highest rated of these campuses is Berkeley, which placed 32nd in the QS World University Rankings 2022 with an overall score of 82.5.

Berkeley is also the campus that produced the most blockchain business leaders with nine among their alumni, two of which came from the Haas School of Business. The Los Angeles campus is responsible for two blockchain business leaders, while San Diego and Santa Barbara have one apiece.

University of California Breakdown Blockchain Business Leaders
University of California, Berkeley 7
University of California, Berkeley, Haas School of Business 2
University of California, Los Angeles 2
University of California, San Diego 1
University of California, Santa Barbara 1

2. Harvard University Blockchain business leaders: 11

Harvard University has produced the second-highest number of blockchain business leaders, with 11 among its alumni. Six of these came from Harvard Business School, while five came from the wider university.

Harvard University is one of the most prestigious in the United States and has seen many famous graduates including five U.S. presidents. The university currently sits fifth in the QS World University Rankings 2022 with an overall score of 98.

Harvard Breakdown Blockchain Business Leaders
Harvard Business School 6
Harvard University 5

3. Stanford University Blockchain business leaders: 8

Stanford University has produced the third highest number of blockchain business leaders with 8 counted among their alumni. Two of these came from the Stanford Graduate School of Business while the other six studied at the wider university.

Stanford University is incredibly highly rated, ranking joint third with Cambridge on the QS World University Rankings 2022 with a score of 98.7.

Stanford Breakdown Blockchain Business Leaders
Stanford University 6
Stanford Graduate School of Business 2

Blockchain business leaders: the most popular areas of study

most popular areas of study

We also took note of the subject that each business leader studied while at university, allowing us to compile a list of the most commonly studied courses among successful figures in the blockchain industry.

Rank Subject Studied Count Proportion of all Subjects Studied
1 Computer Science 54 24.55%
2 Business and MBAs 42 19.09%
3 Economics 27 12.27%
4 Electrical Engineering 13 5.91%
5 Finance 9 4.09%
6 Social Sciences 8 3.64%
7 Accounting 7 3.18%
8 Mathematics 7 3.18%
9 Engineering 6 2.73%
10 Management 6 2.73%
11 Philosophy 6 2.73%

1. Computer Science – Proportion of subjects studied: 24.55%

Computer science is the most popular course among blockchain business leaders, accounting for 24.55% of all subjects studied. Many billionaires who made their fortune in the crypto industry studied computer science, including Binance founder and CEO Changpeng Zhao, Alchemy co-founders Joe Lau and Nikil Viswanathan, as well as co-founder of FTX Gary Wang, who studied computer science alongside mathematics.

2. Business and MBA courses – Proportion of subjects studied: 19.09%

In third place, with 19.09% of courses studied by blockchain business leaders, are business and MBA courses. Business degrees can cover many different topics within the world of business, from starting a company to ensuring it runs efficiently. MBAs are more specialist postgraduate courses that focus on various aspects of management, business, and entrepreneurship.

Ripple Labs co-founder Chris Larsen and Binance US CEO Brian Schroder are two examples of high-profile blockchain business leaders who studied for an MBA, while blockchain.com co-founder Nicolas Cary studied for an undergraduate degree in business before beginning his career.

3. Economics – Proportion of subjects studied: 12.27%

Economics is the third most commonly studied subject, accounting for 12.27% of all courses taken by blockchain business leaders. Notable figures in blockchain who studied economics include Ripple Labs CEO Brad Garlinghouse, CEO and co-founder of blockchain.com Peter Smith, as well as Matthew Roszak, the chairman and co-founder of Bloq, Inc.

Methodology

We wanted to create a global crypto career report that would address multiple factors such as job demand, salaries, and education.

To do this, we first looked at the number of job listings for crypto and blockchain-related roles in 50 different countries using data from Indeed. We then calculated the number of jobs per million people in each country using population data from World Population Review in order to compare the relative level of demand in different countries.

We then collected data on average salaries in the crypto and Web3 space from Web3 Jobs, comparing earnings in different roles, countries and continents.

The next section looked specifically at the educational backgrounds of some of the world’s wealthiest crypto businesspeople, ranked by wealth according to data from Forbes and correct as of November 2022. Here we revealed the universities that each billionaire attended as well as the subject they studied.

Lastly, we looked at the universities attended by over 150 CEOs, chairmen and founders of blockchain companies to reveal the educational institutions that produce the most blockchain business leaders, as well as the courses they commonly study.