Punk6529, a New York-based multimillionaire NFT collector, shared the best tips on how get a job in crypto.
According to a social media post to his 465,000 followers on X (formerly Twitter):
Don't try to be a full-time crypto trader: Punk advises not to consider "full-time cryptocurrency trader" as a profession.
The number of people good at it is "vanishingly small" and he considers "buy and hodl" a superior strategy to actively trading the markets. He explains most people "buy high and sell low" leading to market cycles, and panic selling is more likely if trading is your main income. Finally, executing a "buy and hodl" strategy is easier "if your monthly income is separate from your trading income."
The three reasons to consider a crypto career: Punk explains he pursued a crypto career because:
- "a) you believe it is an important field
- b) you believe it will grow in importance in the future
- c) you believe it in ideologically."
He believed this even when the industry was much smaller.
Don't feel like you are late: Punk states that even though it feels late compared to 2013, "the career opportunities are much better now."
He explains, "If you spent 10 years waiting for the field to go from 5B to 1T, the number of new jobs created are those than 1T in market cap can support." The future growth to 10T could "possibly 9 times more opportunities now."
He outlines that most people haven't updated their views - "I hear from my regular friends the same stupid thoughts about crypto that I heard a decade ago."
This blindness means less competition for opportunities.
Start writing to learn about crypto: Punk advises to start studying crypto deeply out of personal interest by reading, writing, and doing.
He invested "thousands of hours in my own personal self-development with no expectation of compensation."
He explains writing helps you explain concepts to others, gets feedback, and connects you with like-minded people.
It can lead to jobs - "Every single other person who I asked to join the team I met here on Twitter."
Look for jobs at the intersection of crypto and other industries
Punk suggests an overlooked place to look is "the intersection of: traditional industry x cryptocurrency."
Crypto firms need non-crypto services like accounting. And he gives examples of non-crypto firms that will integrate crypto like asset management for ETFs, pension consultants, banks and AML roles.
With NFTs the scope is even wider - sports teams, universities, hospitality firms will eventually use them and need expertise.
Read Also: Crypto Regulation: The Opportunities And Challenges That Lie Ahead
Why It Matters: The pseudonymous Punk6529 was voted one of CoinDesk's Most Influential Persons in 2022 and owns a massive collection of NFTs.
Pymnts cited LinkedIn data to indicate that despite the price surge in cryptocurrencies, crypto job postings dropped 57% between December 2022 and 2023. However, CryptocurrencyJobs.co, a jobs board that charges for job posts, reported one of its best revenue months of the year in December.
Cryptocurrency enthusiasts inspired by these tips can join the industry by looking at Benzinga's job openings.
Read Next: Happy Birthday Bitcoin: 15 Fun Facts About Leading Cryptocurrency
Image: Pixabay
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