You are currently viewing 3 Myths About Working For a Cryptocurrency Startup

3 Myths About Working For a Cryptocurrency Startup

If you haven’t jumped on the crypto bandwagon yet, it’s likely because you don’t understand crypto or because it scares you. Or both. Or maybe you simply don’t see it’s long term viability and you think we will see it in the digital graveyard with ICQ and MySpace very soon.

The above feelings may also cause you to steer clear of any job opportunities in the crypto sector. The sum of all of those fears may cause you to assume that any new crypto startup will fail in 12 months and their office space will go to a yogurt shop.

Is this fair or accurate? Not always. Here are some of the myths floating around out there about crypto companies, and the truth behind them.

1. You Have to Be a Renegade to Work at One

The image of the average crypto employee may be similar to that of a typical hacker. They’re an anarchist wearing a hoodie who wants to stick it to “The Man.” And this is hardly the case.

Crypto workplaces are as diverse as any other startups. Sure, there will be some hoodies. But most of the workers there aren’t concerned with toppling the capitalist society. They’re working to use their skills to earn an honest living, complete with a 401(K) and health benefits.

Their agenda isn’t that much different than someone working at Wells Fargo. They simply want to work hard and do their best, then spend the evenings and weekends with friends and family.

2. You Have to Be Young to Work For One

When you were envisioning the typical crypto worker, you probably didn’t see any gray hair.

Sure, many of these workplaces are very young, with largely Gen X or Millennial-aged workers. However, there is still a place for people who listen to CDs instead of Spotify and wore a suit to work for most of their life.

Baby Boomer-aged minds are extremely valuable in crypto. They likely have a lifetime of business and finance acumen stored in there, which can help in countless ways. Some proven gray hairs can also help add respect to a sector that desperately craves legitimacy.

3. They’re All Doomed to Fail

Many people see the big numbers being thrown around in crypto related headlines and updates, but they still remember the great dot com bubble that popped. It’s easy to assume that most (if not all) of these crypto companies will suffer the same fate.

This is a fair assumption, but not an accurate one. While the cryptocurrency market is still figuring itself out, it is very much here to stay.

Yes, a fair number of crypto companies are going under, but the ones that are surviving are doing very well. In fact, almost a third of Linkedin’s top 2018 startups were in the fintech space.

Like any sector, it is unfair to lump all companies into the same group of assumptions. Dunkin Donuts and Starbucks are in the same space, in theory, but they offer two very different employee cultures and customer experiences.

If you’re looking to work or invest in a potential Fintech startup, give it the same level of scrutiny you would any other company, but try to keep the above myths out of your decision-making process.