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How to hire Top Crypto Developers
Hiring a cryptocurrency developer involves an in-depth understanding of your organization's needs, and the ability to accurately assess a candidate's technical and non-technical abilities. Whether you're a startup or a larger company, full-time or looking for an hourly contractor, these needs can vary considerably.
In a startup environment, hiring a cryptocurrency developer often involves finding a person with a broad skillset. Startups usually have smaller teams, and developers might need to wear multiple hats, from coding and debugging to designing the architecture and possibly even helping with fundraising through Initial Coin Offerings (ICOs) or token sales. Developers in startups should be comfortable with a fast-paced and ever-changing environment, and show a strong aptitude for problem-solving and innovation.
In contrast, larger companies might look for developers with a more specialized skillset. They might have separate roles for smart contract developers, blockchain architects, and security auditors, for example. Developers in larger companies might need to have more experience with software development best practices and methodologies, such as Agile or Scrum, and be comfortable working as part of a larger team.
Whether you're hiring a developer full-time or as an hourly contractor can also influence your hiring process. Full-time developers are often more involved in the long-term strategy and development of your project. They should be invested in the vision of your project and show a willingness to commit to it for the long run.
On the other hand, hourly contractors or freelancers can be a good choice for shorter-term projects or specific tasks, like auditing a smart contract or developing a certain feature. They offer more flexibility and can be a good way to tap into a specialized skillset that you don't need on a full-time basis.
Regardless of the context, a solid cryptocurrency developer should have a deep understanding of blockchain technology and cryptocurrencies, proficiency in relevant programming languages, knowledge of smart contracts, security expertise, understanding of cryptocurrency principles, strong problem-solving skills, and a robust project portfolio. It's crucial to conduct thorough interviews and technical assessments, and consider doing a trial project or contract period before making a long-term commitment.
Keep in mind that in the rapidly evolving field of cryptocurrencies, a willingness to learn and adapt to new technologies can be just as important as existing skills and experience. Finally, clear communication, cultural fit, and a shared vision can greatly contribute to the success of your collaboration with the developer.
Understanding of Blockchain
At its core, blockchain is a decentralized and distributed digital ledger that records transactions across multiple computers. It ensures that the recorded transactions cannot be altered retroactively, without the alteration of all subsequent blocks. A proficient cryptocurrency developer should have a thorough understanding of these fundamental concepts. This includes knowledge of different types of blockchains (public, private, and consortium), understanding of consensus mechanisms like Proof of Work (PoW), Proof of Stake (PoS), and newer models like Proof of Authority (PoA) or Delegated Proof of Stake (DPoS). They should be able to comprehend how transactions are validated, what mining is, and the concept of public and private keys in the realm of cryptography. Familiarity with platforms like Ethereum, Bitcoin, Hyperledger, Ripple, and more, depending on your project requirements, is essential. Tools like Truffle Suite, Remix IDE, and Ganache for creating a personal Ethereum blockchain can be handy.
Experience with Relevant Blockchain Platforms
Different blockchain platforms have distinct features, use-cases, and development environments. For example, Ethereum is known for its smart contract capabilities, Bitcoin for its pioneering of digital currency, and Hyperledger Fabric for its permissioned, enterprise-focus. Thus, if your project involves creating a decentralized application (dApp), a developer with experience on Ethereum, Binance Smart Chain, or similar platforms might be ideal. For a private blockchain solution, expertise in Hyperledger Fabric, Corda, or Quorum would be relevant. Knowledge of platform-specific tools, SDKs, and libraries is crucial. For instance, a developer working with Ethereum should know how to use Truffle Suite, Hardhat, or Brownie, among other tools.
Knowledge of Smart Contracts
Cryptocurrencies, due to their digital and financial nature, are an attractive target for cybercriminals. Security should be a top priority for any cryptocurrency developer. They should understand cryptographic algorithms, key management solutions, hash functions, and digital signatures. Proficiency in writing secure code and knowledge of potential vulnerabilities, such as the infamous DAO hack or the Parity wallet bug, are critical. They should also be familiar with best practices in smart contract security, such as adhering to the checks-effects-interactions pattern and avoiding common pitfalls. Knowledge of security-focused tools like MythX, Slither, or Securify for smart contract vulnerability detection, or static analysis tools for other programming languages, can be beneficial. Moreover, they should stay up-to-date with the latest security breaches and countermeasures in the cryptocurrency world.
Understanding of Cryptocurrency Principles
A cryptocurrency developer needs to understand more than just the technical aspects of the job. They should also be familiar with the economic and financial principles that underlie cryptocurrencies. This includes understanding tokenomics, or the economic models behind cryptocurrencies, as well as principles of decentralization, financial privacy, and censorship resistance. An understanding of game theory and how it applies to consensus mechanisms and network security can also be beneficial. This doesn't necessarily require a formal education in economics or finance, but at least a self-taught understanding of these principles.
The field of blockchain and cryptocurrency development is still relatively new, and it's changing rapidly. It often involves tackling unique and complex problems that haven't been solved before. Thus, a strong aptitude for problem-solving is key for a cryptocurrency developer. They should be able to think creatively, innovate, and adapt to new technologies and approaches. While this isn't something that can be directly measured in terms of technical skills or tools, it can often be demonstrated through past work experience or projects. Experience with agile development methodologies and tools like Jira or Trello, which can help manage complex projects and adapt to changing requirements, can be beneficial.
Lastly, one of the best indicators of a good cryptocurrency developer is their past work. This could include previous employment, freelance projects, or contributions to open-source projects. It's a good idea to review their GitHub profile or other code repositories to assess their coding skills and style. Check whether they've worked on projects similar to yours, or if they have experience with the particular tools or platforms you'll be using. This can give you a good idea of their abilities and whether they'd be a good fit for your project. Any certifications in relevant fields, like the Certified Blockchain Developer (CBD) or Ethereum Developer Certifications, can also be a plus.
Frequently Asked Questions
How do I find crypto developers?
Cryptocurrency developers can be found through a variety of channels. Online platforms like LinkedIn, GitHub, StackOverflow, and AngelList are excellent places to start. You can also look at freelance platforms that specialize in tech talent like Braintrust. Cryptocurrency-specific job boards, such as Crypto Jobs List, and attending blockchain or cryptocurrency-related meetups, conferences, or hackathons can also be valuable. Don't forget about networking—reach out to contacts in the industry for recommendations. It's important to thoroughly review the candidate's portfolio, GitHub repositories, or other demonstrations of their past work, and conduct thorough interviews to assess their technical and problem-solving skills.
Can I hire someone to create a cryptocurrency?
Yes, you can hire a developer or a development team to create a cryptocurrency. The process involves designing the tokenomics (economic system behind the token), coding the blockchain or token smart contract, testing it, deploying it, and then maintaining it. The developer should be proficient in the relevant programming language (like Solidity for Ethereum tokens) and understand the principles of blockchain technology, cryptocurrencies, and security best practices. Remember that launching a cryptocurrency is not just about technical implementation—it also involves legal, financial, and marketing considerations.
How much does a crypto developer cost?
The cost of a cryptocurrency developer can vary widely depending on the complexity of your project, the developer's experience and skill level, and the region they are based in. You can expect to pay anywhere from $60,000 to $120,000 per year for a full-time entry-level to mid-level developer in the United States. For experienced developers or specialists, the cost can be significantly higher. Freelance or contract rates can also vary greatly but often fall in the range of $50 to $200 per hour. Rates have likely evolved, so I recommend checking current market rates.
What is the hourly rate for a Bitcoin developer?
The hourly rate for a Bitcoin developer can vary depending on their experience, skills, and the complexity of the project. Rates can range anywhere from $50 to $200 per hour, with highly experienced or specialist developers potentially charging even more. It's worth noting that Bitcoin development requires a deep understanding of the Bitcoin protocol, C++ (the main language Bitcoin Core is written in), cryptography, and the broader principles of decentralized networks. Remember that rates have likely evolved, so you should check current market rates.
Do you need a license to create a cryptocurrency?
The need for a license to create a cryptocurrency largely depends on the jurisdiction you are in and the nature of your cryptocurrency. Generally, the act of creating a cryptocurrency (i.e., coding and deploying a blockchain or a token on an existing blockchain) does not require a license. However, if your cryptocurrency involves activities that are regulated, such as offering a security token (which might be considered a security under law), running an exchange, or engaging in money transmission, then you likely need a license. Regulations vary greatly by country, and in many cases, the legal status of various activities related to cryptocurrency is not entirely clear. Therefore, it's crucial to consult with a legal expert before launching a cryptocurrency.
Is it free to make your own cryptocurrency?
While creating a cryptocurrency technically requires only coding skills (which could be free if you have the necessary expertise), there are several associated costs to consider. If you're building on an existing platform like Ethereum, you'll need to pay gas fees to deploy your smart contract. If you're building a new blockchain, you'll need servers or nodes to run it. Additionally, you'll likely need to pay developers for their work, unless you're doing it yourself. Beyond technical implementation, you should also consider costs related to security audits, legal compliance, marketing, and other business expenses.
Do Bitcoin developers get paid?
Bitcoin developers can be compensated in various ways. Some developers are employed by companies in the cryptocurrency industry, where they get paid for contributing to the Bitcoin codebase or developing Bitcoin-related products. Some developers are funded by grants from organizations like the Bitcoin Foundation, Blockstream, or independent community funding. Others may volunteer their time to contribute to the Bitcoin project out of personal interest or commitment to the community. It's also worth noting that contributing to Bitcoin, being an open-source project, can offer non-monetary benefits like reputation building and learning opportunities.
How do I start my own cryptocurrency?
Starting your own cryptocurrency involves several steps. First, you need to define your purpose and design your tokenomics if it's a token, or your consensus mechanism and other fundamental features if it's a new blockchain. Then, you or your development team need to code the smart contract or blockchain, which involves proficiency in languages like Solidity for Ethereum tokens or C++ for a new blockchain. The code needs to be thoroughly tested and audited for security. Once it's ready, you can deploy it on the network. You'll also need to consider legal compliance, marketing, and possibly fundraising efforts. Building a community is also a crucial part of launching a new cryptocurrency. Lastly, remember that maintaining a cryptocurrency involves ongoing work to fix bugs, add features, and respond to security threats or regulatory changes.
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