Cryptocurrency Expert: A Career with A Bright Future
It is clear that this is the perfect time to be a cryptocurrency expert, and learn about crypto operations and characteristics, as well as the socioeconomic impact that it will have in the future.
There is no doubt that we are witnessing an unprecedented technological revolution based on the confluence of various technological developments that are now beginning to come together to create new ways of understanding the economy and society.
In this context, blockchain technology will disrupt the current centralized model and fundamentally change many business and institutional management models. Cryptocurrency experts will be one of the most sought-after professionals in this context.
The main reason for the disruption caused by this technology is that it makes the existence of a central entity in charge of verifying the information completely unnecessary, and the entire network does it without the help of a third party.
Cryptocurrency Expert Career Goals
The objectives of a cryptocurrency expert are:
- Understand the operation and uses of the main cryptocurrencies and tokens, and reflect on the concept of money and the disruption that Bitcoin represents as a store of value and means of payment.
- Understand the basic concepts and functions of blockchain technology.
- Learn how cryptocurrency exchanges work and the different storage methods (wallets).
- Understand the analytical guidelines needed to invest in the cryptocurrency market.
- Understand the operation and implications of Ethereum and the use of smart contracts; analyze use cases such as ICOs or the creation of autonomous organizations.
- Learn about the new decentralized finance paradigm, or DeFi, which sees many products offered by financial institutions without intermediaries.
- Be able to explain the taxes and regulation of cryptocurrencies.
- Critically examine the main issues and risks facing cryptocurrencies.
Complementary Courses for a Crypto Career
The beauty of blockchain is that in addition to its application in a financial context, it has great potential; it can also be used for any transaction that needs to be verified. This is a research area that will grow in the future. However, if you want to start a cryptocurrency expert career, you can choose any of the following options that we will mention. In addition to understanding blockchain, some alternatives will give you additional knowledge.
- Professional training in the administration of computer network systems.
You will be able to carry out the following tasks: Manage server operating systems, install and configure software, guarantee the quality operation of the system; manage network services (network, transfer of messages and electronic files, etc.) through the installation and configuration of software under quality conditions, and even manage users according to operational specifications to guarantee access to system resources and their availability.
- International trade course.
These are some of the problems you might need to solve: international payment methods, guarantees, and guarantees in the international sales business; international taxes, collection and payment of electronic commerce and foreign currency.
- Master blockchain and fintech.
You will learn the basics of these new payment and financing methods. So you can use them in any business.
- Graduated in Blockchain, DLT and Crypto economics.
This postgraduate course allows you to discover the ecosystem of distributed ledger systems and the crypto-economy, its stakeholders, services, and applications. You will also learn to contextualize the cryptocurrency market and identify emerging economies.
- Postgraduate Expert in Bitcoin and Blockchain.
You will learn about the basics of blockchain technology and Bitcoin. The postgraduate course will also provide you with concepts related to blockchain security, and research, as well as legal aspects related to cryptocurrencies.
Cryptocurrency Expert: Technology and Finance
Focusing on the world of cryptocurrencies, a cryptocurrency expert is someone who has extensive knowledge of how digital currencies work. As well as how to use an online accounting system and how to trade cryptocurrencies.
This role combines finance and technology. Cryptocurrencies use cryptography (online codes) for security and are not tied to banks or governments. They give companies and investors a high degree of flexibility and security in organizing their digital economy. The best known cryptocurrency is Bitcoin, but as a cryptocurrency expert , you will be familiar with several different currencies.
In recent years, there has been a greater trend for financial institutions to add bitcoin and other cryptocurrencies to their portfolios. Buying and selling Bitcoin and other cryptocurrencies for profit is known as cryptocurrency trading.
The three elements that make up the definition of trading Bitcoin and other cryptocurrencies are the operating model, the object, and the trading strategy.
The transaction type determines how Bitcoin is traded on the cryptocurrency market. For example, a cryptocurrency contract for difference (CFD) is an agreement between a buyer and a seller that stipulates that when a position is closed, the buyer will pay the seller the difference between the two.
The object of the exchange is a cryptocurrency transaction. The trading strategy that investors develop when trading Bitcoin and other cryptocurrencies is an algorithm that defines a set of rules for buying and selling digital assets on the cryptocurrency market.
Who Is Hiring These Experts?
There are four main players in the cryptocurrency job market: startups, legacies, tech companies, and governments. In this section, we will see how each one is part of the blockchain and what they do with it.
- Startups:
They are independent companies and products that have been created since the invention of Bitcoin. They are led by experts and entrepreneurs who see the importance of this technology. Startups, on the other hand, range from wallet providers, news sites, blogs, and educational tools built to support blockchain technology.
- Legacies:
These are large companies that have been around for many years, such as banks, accounting firms, and law firms. They need time to react to the technical development of Bitcoin. They have seen it grow over the years and now they are afraid. If they can’t find a way to use blockchain technology, they may go out of business. Traditional companies have a lot of power and money. Their global reputation allows them to hire almost anyone. Most companies hire entire teams of experts to help them keep up with technology.
- Technology companies:
These are the companies that will lose the most if blockchain technology takes over the world. These are companies like Microsoft, Apple, Google, and Facebook. Their success and power largely depend on the centralized services they provide. If decentralized platforms continue to grow in popularity, users will no longer want to use centralized networks. Tech companies need to adapt fast! The development of blockchain technology has become a priority. Most are investing in projects that will use blockchain technology to benefit their business.
- Government:
Blockchain’s potential for cost savings is enormous, which is why many governments hire experts to advise them.
Some Bitcoin Trading Strategies
Financial risk can be mitigated with an efficient trading strategy. It prevents you from making hasty and impulsive judgments that can cost you a lot of money. These are some of the common strategies that are popular among cryptocurrency experts.
- Daily trading
It involves entering and exiting a market position on the same day within cryptocurrency trading hours. The trading strategies are designed using the technical analysis of daily traders, but it is a risky and time-consuming strategy that is mainly suitable for a cryptocurrency expert.
- HODL (buy and hold)
People buy Bitcoin and other cryptocurrencies and hold them for a long time. This allows them to benefit from an increase in the value of the asset.
- Trading crypto futures
It involves entering into a contract agreement between two parties to buy and sell a particular amount of an underlying cryptocurrency, such as Bitcoin, at a predetermined future price, and at a predetermined date and time.
- High Frequency Trading (HFT)
Involves the creation of algorithms and trading bots that help in quick entry and exit of a crypto asset. Designing such bots requires a deep understanding of market principles and a strong foundation in mathematics and computer science. As a result, it is more suitable for a cryptocurrency expert than for a noob.
- Scalping
Scalping traders exploit market inefficiencies to make a profit. They prefer highly liquid markets as it is quite predictable when to enter or exit the market.
- Investment index
It involves buying exchange-traded funds (ETFs) like Bitcoin Futures or spot ETFs, or investing in indices like the decentralized finance (DeFi) pulse Index to remove the risk of investing in an individual currency.
If you want to learn more about the benefits of being a cryptocurrency expert, and how to become one, visit Noticias Diarias 24