Bitcoin – The Booming Digital Currency

Benefits of Bitcoin

Cryptocurrencies like Bitcoin are appealing because they offer many advantages as a payment method, including flexibility and security. 

• Flexibility: With Bitcoin, users can receive or send money anytime and anywhere across the globe. There aren’t any hassles about crossing borders or working around bank holidays. Plus, you also have total control over your money because the Bitcoin network does not have any central authority body.  
• Security: Because users control transactions, Bitcoins are kept safe across any networks. Bitcoin transactions do not require personal information about the person using it. As there is no personal information involved in the transaction, there is no possibility of identity theft. Bitcoin can be encrypted and backed up for safeguarding the money. The blockchain technology that enables Bitcoin also enables verification of transactions anytime, anywhere.

Shortcomings of Bitcoin

Despite the advantages described above, Bitcoin also has flaws. It’s not a currency one can start using right away, because it takes some education and setup first. Very few organizations accept Bitcoins as currency. And Bitcoin is highly volatile due to the constant fluctuations in its value.

Job Opportunities Related to Bitcoin

Don’t let the shortcomings put you off, however. Although Bitcoin and other cryptocurrencies are in the early stages of development, with the volatility and lack of understanding that happen in the initial stages, jobs associated with Bitcoin are on the rise, especially in blockchain technologies. 

An SAP study shows businesses are optimistic about blockchain technology, with 92 percent of respondents viewing it as an opportunity, primarily in supply chain management and IoT (63 percent) but also in legal and regulatory (19 percent) and yes, cryptocurrency (8 percent).

That optimism is reflected in the job market. According to Upwork, blockchain skills are now the “hottest commodity in the freelance marketplace,” with demand growing by 6,000 percent in just one year. And Burning Glass Technologies says there were 5,743 mostly full-time job openings calling for blockchain skills between May 2017 and May 2018. 

Despite all the job openings, however, few people have the necessary skills at this time, driving up pay. Because the demand for blockchain skills far exceeds the supply of professionals with those skills, salaries are high with blockchain developer and engineer positions typically paying $130,000 in annual salary. 

You don’t have to be buying and selling with Bitcoin to benefit financially from Bitcoin if you’re one of the few trained in the necessary skills!

Getting Started in Blockchain Technology

Regardless of whether you’re interested in cryptocurrencies or not, blockchain technology is a field to consider if you want job security and lucrative pay. And the way to start that career move is through education and certification. 

Simplilearn’s Blockchain Certification Course was designed for developers who want to gain skills that will enable them to land jobs related to Blockchain, Bitcoin, and cryptocurrencies. Through this course, you’ll learn the core structure and technical mechanisms of Bitcoin, Ethereum, Hyperledger, and Multichain Blockchain platforms. You’ll also learn how to use the latest tools to build Blockchain applications, set up your private Blockchain, and deploy smart contracts on Ethereum. Most importantly, you’ll gain practical experience with real-world projects.