Frequently Asked Questions:
Why are there not a lot of Internship job opportunities in Crypto and Web3?
First, we should define what "a lot of internships" means. The most niche with internships is Psychology. Web3 doesn't have as many opportunities as psychology, yet there are plenty of opportunities. However, many companies in Web3 are almost always on the lookout for interns across the world for various roles.
We compiled a list of possible reasons why crypto might be perceived as a niche with "fewer internships"
1. Lack of established programs
Web3 is still a relatively new field compared to other professions and there are barely any established companies that people recognize. And even some of those companies can be gone from one day to another (look at FTX as an example). Companies are not as quick to establish these types of programs, they need to get some other more important things out of the way first.
2. Bear Market
You can't have internships when you don't have companies! When the bear market hits, companies start crashing as seen before. Possible internship opportunities die out as the companies close shop. Wow, that was kind of grim, right? Do not despair, in the bull market, you can observe similar behavior. The bull market comes with all sorts of overpaid roles and internships!
3. Limited Resources
You have to remember, most crypto/web3 are startups. When you are trying to lift a company, buying the big guns first is a priority. When you start having mild success, then you can decide to buy handguns. If that wasn't clear enough, let me be more explicit: when you want your company to succeed, you hire pros. When your company is sustainable enough, you can hire some noobs!
4. Everything is Remote
Traditional internships are on-site, so it's easier for an inexperienced person to be supervised in person. With crypto, it is not the case. Often companies will work only remotely. It is way harder to babysit someone you can't see. The logistics to set up remote internships can be hard, some companies prefer to spare the headache.
What are the most popular Crypto & Web3 Internships?
We have mentioned before how crypto has almost every single role Web2 has. There are professions with more internship opportunities (political science is not one of those).
These are the roles that we've seen offer internships often.
1. Software Development
If you are an aspiring developer you are on the other side! Crypto started with a bold developer, currently, it needs a lot of developers. These roles involve developing and improving blockchain tech. Smart contracts and other similar applications are also popular and offer a lot of internship opportunities.
2. Marketing and Communications
Fun fact: communication is the fourth career with higher internship possibilities. Combine that with crypto and you have yourself a party! Marketing interns are responsible for developing and executing marketing initiatives. They also manage social media accounts, create content, and engage with clients and customers.
These types of internships usually need people with a finance or data science background. Being a professional Googler comes with responsibilities analyzing: new web3 tech, market trends, etc.
4. Business Development Intern
These roles involve identifying and pursuing new business opportunities, analyzing market trends, developing and implementing sales strategies, and building and maintaining relationships with clients.
What is the typical duration and compensation for a Web3 internship?
Ah, internships. A form of accepted exploitation. We are kidding, internships can take you places! In fact quite a lot of internships provide a platform to get your first full time job offer, provided you are able to give amazing value. But before committing your valuable time, we should give you important details.
Of course, it depends on the company, role, and program, but we estimate an internship lasts between 6 months and a year. And as we mentioned above, if you are lucky and talented enough, that internship can become a full-time job!
The compensation is also dependent on the role and the company. You have to keep in mind, internships usually are unpaid or just a fraction of the total pay that role usually has. In our database, we can see that the average is $26,000 per year.
Can I find a remote Web3 or Cryptocurrency Internship?
What type of question is that? OF COURSE, YOU CAN. They're not Unicorns or the love of your life. The more the industry develops the more internship opportunities will raise. We want to remind you that crypto jobs have been remote even before remote work was cool. Find your new internship here!
How will an internship in Web3 benefit my career in the long-term?
An internship in the Web3 or Cryptocurrency industry can provide valuable hands-on experience and exposure to new and emerging technologies. This can help you understand the industry and build a strong foundation in the field.
Additionally, internships can provide opportunities to network and connect with professionals in the industry, which can be helpful in finding future job opportunities.
Participating in projects and initiatives can also help you develop technical, problem-solving and communication skills that are highly valued by employers. Furthermore, having an internship in the Web3 or Cryptocurrency industry can set you apart from other job candidates and demonstrate your dedication and commitment to the field. Overall, an internship in Web3 or Cryptocurrency can provide a valuable learning experience and open doors to exciting career opportunities in the future.
Do I need prior knowledge of blockchain to apply for crypto internships?
The answer is "maybe". Traditionally internships have been a way to learn while providing value at the same time. However, Web3 is a fast moving field and you might not get as many chances to mess up here as you'd do otherwise.
So taking some time out to learn the basics of crypto and blockchain will be highly beneficial. Before starting your internship search you can spend some time on YouTube, Google or even ask ChatGPT and learn the basics of this tech.
Are there any age restrictions for Web3 internships?
Generally, there are no strict age restrictions for internships in this industry.
Companies focus more on a candidate's skills, potential, and ability to contribute effectively to their projects.
So if you have been planning to change careers, crypto internships can be a great way to get some hands on experience in your target role.