After Bitcoin spike, cryptocurrency industry is increasing headcount: Report – Moneycontrol

The price of Bitcoin, which has gained more than 200 percent in 2020, surged past $20,000 for the first time on December 22.

December 23, 2020 / 03:16 PM IST

Indian exchanges and startups dealing with virtual currencies have stepped up hiring and are expanding their workforce aftera recent surgein the price of Bitcoin.

CoinSwitch, Bitex, Zeb-Pay, Unocoin and CoinDCX are increasing their team sizes by 40-200 percent, according to a report by The Economic Times. The companies are hiring across roles in various departments, such as technology, product, finance, compliance and design.

The price of Bitcoin, which has gained more than200 percent in 2020, surged past$20,000 for the first time on December 16.

Also read:Bitcoin makes a smart comeback to rise nearly 4%

In November 2020, there was a 40percent increase in cryptocurrency job postings compared with November last year, the report said, citing data from employment website Indeed.

Cryptocurrency trading platformUnocoin, which currently has 35 employees, plans to add more than 50members to its team in the next three months.

"While most sectors have taken a hit due to the pandemic and the resultant global economic recession, the crypto industry has seen an unprecedented surge coupled with innovation, employment and investment opportunities,"Sathvik Vishwanath, co-founder of Unocoin, told the paper.

CoinSwitch, also a cryptocurrency trading platform, has over 70 employees. The company has witnessesd 175 percent month-on-month growth since its launch in June, the report stated.

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After Bitcoin spike, cryptocurrency industry is increasing headcount: Report - Moneycontrol