Which Countries Offer The Best Pay Packages for Crypto Jobs?

There’s no denying that blockchain developers are in high demand at the moment. During 2022, for example, DevSkiller reported a 552% increase in the market for blockchain programming skills, assessing a staggering 20,249 coding tests sent to applicants across 54 countries, and the trajectory is continuing in an upwards direction. This unprecedented level of demand has resulted in many US digital firms offering pay packages of up to $300,000 in an effort to snare talent and prevent skilled developers from being tempted to move elsewhere.

While American firms have been reported to offer salaries that are, on average, 13% higher than those of their overseas competitors, stats like these rarely tell the whole story, with higher living costs in more affluent countries very often eclipsing the marginally higher incomes that might be available. We, at Bankless Times have uncovered the countries that are paying blockchain developers the largest packages relative to the national average income, to see where a job in crypto offers the most attractive blend of salary and lifestyle:

1. Cameroon

It isn’t unheard of for blockchain developers to earn salaries of $80,000 in the West African nation of Cameroon. Even the average developer salary of $50,000 is a phenomenally large income in a country whose main industry is agriculture, eclipsing the national average salary of $1,640 more than 30 times over.

Cameroon has seen a significant jump in online presence in recent years, with the number of internet users leaping from 7.5% in 2012 to 45.6% in 2023. This has contributed to a growing tech scene, spurred on by a young workforce, with more than 60% of Cameroon’s population under the age of 25. The country now boasts several exciting start-ups, including Ejara, which allows users to buy crypto and store it through decentralised wallets.

2. Pakistan

Crypto jobs in Pakistan can command a six-figure salary, although even the average blockchain developer can expect to take home around $42,000 per annum. With more than 40% of Pakistan’s labour force employed in cotton textile production and a national average salary of just $1,560, developers specialising in crypto will earn more in 12 months than the average Pakistani worker will earn in 27 years.

Pakistan’s tech scene has gained traction in recent years and the majority of technology jobs can be found in Lahore, which has boldly been dubbed Lahore Silicon Valley owing to the number of start-ups and incubators housed within the Technology Park area.

3. Nigeria

With potential salaries of $120,000 up for grabs, Nigeria is now one of the best paying countries for blockchain developers. This is quite a turn-around for the African nation which had, until December 2023, entirely banned cryptocurrency trading. However with the Central Bank of Nigeria recognising the need to regulate the use of crypto within the country, blockchain developers can expect to take home an average annual salary of $48,000 – more than 22 times the national average of $2,160.

4. Georgia

In the transcontinental nation of Georgia, blockchain developers command an average salary of $95,000. This impressive sum is not only the highest within our top ten, but also some 17 times higher than the salary of $5,600 which most Georgian workers take home. The government has invested heavily in technology in recent years, pumping in excess of $4.7 million into more than 200 globally scalable start-ups, spanning fintech, AI, virtual reality, agri-tech, ed tech and biotech.

5. India

The crypto-tech industry within India is projected to grow to $241million by 2030. Blockchain developers in the country already earn an average of $35,000 per annum – almost 15 times the national average of $2,390. The boom in the industry has the potential to create a further 800,000 jobs, which is expected to see salaries pushed higher still as competition for the best talent begins to heat up.

6. Bangladesh

By 2030, Bangladesh is projected to be the 24th largest economy in the world and it owes much of this positive outlook to its rapid digitalisation. While the ICT market is expected to show a CAGR of 1.83% over the next five years, there are fears that the country’s complete ban on cryptocurrencies could deter blockchain developers from seeking work within the country. For now though, crypto workers can expect to take home an average annual salary of $40,000 which is some 15% higher than the average on offer in neighbouring India, and 14 times the national average income. In 2020 the Government of the People’s Republic of Bangladesh published the National Blockchain strategy, recognising the crucial importance of the advent of blockchain technologies within the country.

7. Ukraine

Although the current situation in Ukraine means that the country is not an attractive prospect for foreign blockchain developers, those living and working within the country can expect to take home average annual salaries of $60,000. This is approximately 14 times the nation’s average annual salary of $4,260, with workers primarily focussed on the manufacturing industry. Despite recent setbacks, the technology industry in Ukraine is booming, growing at a rate of 7% despite the economy as a whole shrinking by a third as a result of the war.

8. South Africa

South Africa has to be one of the most appealing destinations to look for a crypto job. Not only is the average annual salary the highest within our top ten, sitting at $95,000, but at 14 times the country’s average of $6,780, lower living costs and a comfortable lifestyle is all but guaranteed. Those who choose to set up here can expect to spend their weekends making the most of what the country has to offer, from its sprawling safaris parks to the stunning Stellenbosch wine region.

South Africa has become a key player in the technology industry lately with notable successes in the fintech, legal tech and e-commerce fields and most of the technology companies are situated within the Cape Town region.

9. Morocco

In 2017, Morocco issued a memorandum banning cryptocurrency within the country. It doubled down on its position in 2021, before making a U-turn shortly afterwards during a press conference in June 2022. The Central Bank of Morocco has now announced that it is in the process of working on a draft bill regulating the use of cryptocurrencies within the country. If the law goes ahead, we can expect to see an increase in demand for blockchain developers, who presently can expect a salary of $50,000 – more than 13 times the national average of $3,670. Owing to its enviable position at the edge of Europe, Morocco is one of the best situated countries for crypto jobs, and as a result highly skilled blockchain developers can command upwards of $200,000 – one of the most attractive crypto salaries worldwide.

10. Armenia

Armenia’s tech scene has been steadily rising during the past decade and the country is already home to a number of established players including Microsoft, Synopsys, Cisco and VMWare. During 2023, there was a surge in IT companies registering within Armenia, with the numbers doubling relative to 2022. The number of employees working within the tech industry also increased by 30%, no doubt tempted by the large salaries that are on offer in the country. Blockchain developers in Armenia earn an average of $80,000, which is 13 times the national average of $5,960.

Ryan Matthews, technology expert at Bankless Times believes that blockchain developers enjoy a privileged and lucrative position in the global job market:

“Wherever they are in the world, they can be sure to be highly paid, commanding, on average across all countries, 623% more than a typical worker’s salary. They are also fortunate in that their specialisation is highly portable, allowing them to set up anywhere of their choosing and shop around for the very best combination of income and living standards.”

Ryan Matthews, technology expert at Bankless Times

Those in search of a six figure income might look to Croatia, which tops the charts for the average developer salary, sitting at $125,000, while the most talented might be drawn to Belgium or Switzerland, where it is possible to earn multiple hundreds of thousands of dollars. But as our research shows, Africa and Asia are also proving worthy competitors, with many of the regions’ nations sitting at the cutting edge of blockchain development and offering salaries that are high in absolute terms, and absolutely staggering in comparison with the national average. For those willing to look outside of their national boundaries, the opportunities have never been so good.

Methodology

We used Web3.Career to ascertain the maximum, minimum and average salary levels for blockchain developers in different countries around the world. The average salaries were then compared to the average annual incomes in those countries, which were sourced from World Data, to identify, in each case, the difference between the two metrics.