Location matters when it comes to working in the cryptocurrency industry. The industry is on the move, and innovators find that the industry is ripe for new and exciting opportunities. The global economy is moving more and more into the crypto industry, so jobs in this area are booming.
Job seekers in the cryptocurrency industry may find that certain states are ideal for their new work, and some states are being left in the dust. Like most explorers, being in the right place at the right time is often the key to success.
Delaware Tops The List
A new study reveals Delaware is the best state in the US to work in the cryptocurrency industry.
Blockchain jobs site Crypto Jobs List conducted the research, which analyzed eight factors to discover how much opportunity each state provides for those looking for a job in cryptocurrencies.
They calculated such factors as the number of blockchain companies per million people, average internet speeds, technology hub ranking, and the number of establishments that accept cryptocurrency payments.
Delaware ranked in the top spot out of all 50 states after performing well with several factors, including the highest number of crypto companies per million people at 12 and the fourth-best score for broadband access at 95.50%, and the third-best average speed of 469.7(Mbps).
In the second position is California, ranked third in the 2020 state technology and science index, which compares each state’s capacity for achieving prosperity through scientific discovery and technological innovation.
Massachusetts is the third best state to work in the crypto industry and scores highest in the index for terrestrial broadband access at 97.50%, ranking first out of all 50 states in the 2020 technology and science index.
New York placed fourth in the list and ranks third for the number of crypto companies per million people at nine. Residents of New York also have the fifth-highest interest in Ethereum.
Rounding out the bottom three is Mississippi in 48th place, which scores the lowest out of all 50 states for terrestrial broadband access and places 50th on the technology and science index.
West Virginia is in 49th place, scoring 50th for terrestrial broadband access at only 67.40% and 49th in the 2020 state technology and science index. In addition, according to Google trends data, West Virginia residents have the lowest search levels for cryptocurrency compared to all other states.
Alaska comes in 50th out of all 50 states because it scores poorly with some of the country’s lowest levels of internet access and no crypto companies. It also scores the lowest for the number of establishments accepting cryptocurrency payments.
“This data paints a fascinating picture of crypto job access and interest across the US,” said a spokesperson from Crypto Jobs List. “The study analyzed a large array of factors, from internet access and speed to crypto search volume interest and number of establishments that accept cryptocurrency payments. As a result, the states at the top of the list offer a great combination of the key elements of building a viable career in the crypto industry.”
Crypto companies per million people rank as the most critical contributor to this index. Delaware ranks the highest with 12 companies per 1 million people, while 17 states have no businesses in the blockchain industry, including Hawaii, Alaska, and North Dakota.
The number of establishments that use crypto as currency per 100k people is the second most important element, with the study revealing New Mexico as a place with the highest amount of places that accept crypto. There are 10.95 establishments accepting crypto payments per 100k people.
Conversely, Alaska and Hawaii place 50th on the list with zero establishments.
2020 state technology and science index is third on the list of things that make a state an excellent place to work in the crypto industry. Massachusetts takes the top spot in the category, which compares each state’s capacity for achieving prosperity through scientific discovery and technological innovation. Colorado comes in second and California third, while Mississippi ranks last.
Average internet speed (Mbps) is the fourth most important consideration for working in crypto. The state with the fastest internet speed is Maryland at 506.7 Mbps, followed by Virginia at 505.6, while California comes in as the slowest at a speed of 93 Mbps.
Internet providers per state are the fifth most important contributor to this index, and Rhode Island is at the bottom of the pile, with the smallest number of internet providers at 38 out of all the states, while Texas ranks first at number 50.
Terrestrial broadband access ranks as the sixth most important factor, with Massachusetts taking the top spot of 97.50% while West Virginia places 50th with only 51.80% access.
Wired low-priced plan access is seventh in importance, with Rhode Island scoring 98.70% and Alaska ranking the lowest out of all fifty states with a score of 2.30%.
Google Trends search levels for Ethereum, Cryptocurrency, and Bitcoin are the final factors on the list. These factors determine whether people will be around like-minded people in the area who are also interested in cryptocurrency. New Jersey sees the highest search levels for “Ethereum,” while Mississippi sees the lowest. Nevada has the highest interest in the search terms “cryptocurrency” and “Bitcoin,” while West Virginia has the least interest in both.
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Robyn is a millennial mom with a passion for personal finance. She has her MBA and has been studying Personal Finance on her own for as long as she can remember.
She has always been “into” personal finance but got inspired to start her blog after a period of extended unemployment. She says that experience really changed the way she viewed her relationship with money and the importance of accessible personal finance education. Read more at A Dime Saved.