The cryptocurrency industry has made tremendous development in the few years since its establishment. Following Bitcoin (Bitcoin) Was launched in 2009, and the entire industry has sprung up and flourished around innovative assets and its underlying blockchain technology. People have created thousands of encryption projects, many different blockchains, and many different blockchain technical specifications and variants.
How do you know where to start if you want to get involved in such a wide-ranging industry? Start with your interests and talents.
The cryptocurrency and blockchain industry (sometimes referred to as the blockchain industry or the crypto industry) has expanded to many specific market segments, and you can participate in them in various capacities. The factions of these industries explained in this article are not an exhaustive list, but provide some examples of different market segments in this field.
The niches mentioned are not specifically created or accepted across the industry, and may be grouped or categorized in different ways, depending on who you are talking to or the source of your investigation. Some niches can also overlap with other niches throughout the industry.
Tech-savvy people who can encode may be interested in encryption and this part of the blockchain. This may mean building decentralized applications, helping to develop blockchains, or formulating technical specifications for encrypted assets. Developers integrate the foundation of industry solutions and assets.
To understand the blockchain, please check- How does the blockchain work?Everything to know
Many potential areas of interest fall into the category of developers. The Decentralized Finance (DeFi) niche in the crypto sector will become prominent in 2020, introducing new demands for digital asset exchange and related infrastructure. DeFi involves solutions based on cryptographic loans and other functions.
To learn more about DeFi, please read— DeFi: A Comprehensive Guide to Decentralized Finance
Another potential area for those interested in technology is non-fungible tokens (NFT), which became popular in 2021 and provide a new way to verify and track unique and valuable items. Encrypted NFT segmentation requires people with technical skills to build solutions around existing use cases and explore unknown uses of the technology.
Interested in NFT?View Cointelegraph Magazine A quick guide to non-fungible tokens
Crypto trading is similar to stock trading in some respects. The crypto industry has thousands of digital assets, and the price of each asset fluctuates. Trading cryptocurrency involves buying and selling assets in search of profit. Traders don’t care much about the role and operation of assets, they care about whether they can buy assets and sell them at a higher price, and vice versa.
Traders may be interested in the latest news, hoping to buy and sell based on hype or expectations. Traders also often use price charts to measure price patterns and price indicators. Chart price behavior is called technical analysis. In addition, because Bitcoin and other cryptocurrencies publicly display asset movements on their blockchains, analysts can draw their own conclusions based on transactions and activities-called on-chain analysis.
For more information about crypto transactions, please read: How to trade cryptocurrencies: the ultimate beginner’s guide
Trading may also overlap with the developer’s niche, because traders may want to build (or let others build) trading robots, customer chart indicators, and other useful trading tools.
How does encryption adapt to the existing laws and regulations of various countries? Should the region develop new laws and guidelines for encryption and blockchain? As the encryption industry continues to develop in the next few years, regulation has always been an area of increasing concern.
The classification of cryptocurrencies as assets is progressing slowly. Bitcoin and Ethereum (Ethereum) Is generally regarded as a commodity, but the classification of many other crypto assets in the industry is unclear.
U.S. Securities and Exchange Commission (SEC) Action against Ripple in 2020 Regarding the status of XRP, Ripple has been involved in various capacities for many years. There are other regulatory actions in cryptocurrency and blockchain, such as ongoing scenarios in cryptocurrency exchanges and their operating areas.
Those who are interested in encryption or blockchain in the mainstream legal or regulatory field may find that their interests overlap by studying encryption regulation in a certain capacity. This may include working with legal and compliance teams for crypto projects, working with policy groups and think tanks, or directly serving within the government to trigger change.
Leaders and visionaries may want to improve the crypto space by creating projects or businesses that solve identified problems or needs. Over the years, innovators have produced countless projects in this field, helping the industry develop from a single asset to an entire industry.
Building a company may involve identifying something that is missing in the crypto or blockchain space, and then hiring and leading a team focused on providing specific solutions to the problem.
For more information on encryption regulation, please read: Will regulation adapt to encryption, or will encryption adapt to regulation?Expert answers
This category overlaps because the company builder may also have expertise in coding, regulation, or other areas mentioned above.
The development of social media and the Internet has opened the door for participants to share their ideas and expertise on a global scale. Almost anyone can learn a lot of information about the encrypted space through YouTube, Twitter, and other methods, and then add their expertise to the equation by providing their own content.
The content stream can include writing articles on encryption and blockchain, making YouTube content, media posts, etc. on personal blogs or for media companies. Content creation can also overlap with all other categories mentioned in this article. Developers, traders, and regulatory professionals can all create their own content.