Cryptocurrency has gone from a niche interest for hardcore denizens of the internet to a form of digital currency that is gaining more widespread adoption around the globe. Still, for many people, cryptocurrency remains confusing and opaque. The process of buying and using it can be difficult, and the technology behind crypto isn’t always easy to explain to those without any technical expertise.

For IT professionals, the rise of cryptocurrency has presented an opportunity for a new sector of jobs within the cybersecurity industry. The increasing need for experts in the field has created a job market with plenty of opportunities for those with relevant skills. Keep reading to learn more about how cybersecurity specialists can work with crypto.

What is cryptocurrency?

Before continuing, it’s important that you understand what crypto actually is. While cryptocurrency has been in the news more frequently of late, many people still don’t know how it works. It is, essentially, a form of digital currency that can be used in a similar way as fiat currency, to exchange for goods and services. However, these transactions are all completed and logged in an online ledger known as the blockchain.

There are a variety of different cryptocurrencies. While Bitcoin is the most widely known, Litecoin and Ethereum are also gaining popularity. Meme coins like Dogecoin have been in the news recently because of their volatility as an investment, but these types of coins don’t make up the majority of crypto transactions.

What is the blockchain? It’s a digitized record of every crypto transaction that is difficult to manipulate, alter, or hack. The security of transactions that are made using cryptocurrency is a large part of their appeal. Every bitcoin transaction is processed through computers known as nodes, which validate the transaction using a complex algorithm. After the transaction is cryptographically confirmed, it becomes a block on the official ledger. After a block is created, it is then confirmed by a majority of the remainder of the network. After this process, the block is a part of the permanent record of transactions.

If you’re interested in buying or selling cryptocurrency, most people do so on one of the many existing cryptocurrency exchanges. Take the time to do research comparing, for example, Kraken vs Coinbase, before you decide which platform you plan to trade with. Some crypto exchanges are more beginner-friendly than others, while some offer lower fees for larger transactions. Traders, investors, and hobbyists have different needs than those using crypto for business purposes, so it’s a good idea to find an exchange that works best for you.

Do cybersecurity specialists work with crypto?

Cryptocurrency has actually created more work opportunities if you’re a security specialist. Some experts project that the number of unfilled cybersecurity jobs may reach 1.8 million by 2022. That means anyone with the skills necessary to implement strict security measures to secure digital assets may be able to find work in the field.

One recent example can be found in recent news, where hackers were able to compromise and use government websites to mine cryptocurrency. This is only one of many recent hacks of this nature, and there is a shortage of professionals who have the ability to mitigate the damage or prevent the hack, to begin with. If you have experience in another field of IT, you may have applicable skills that could help you succeed as a cybersecurity specialist.

As cryptocurrency becomes more widely used, it’s likely that malicious actors will continue to attempt to compromise its security. This means that businesses that have the ability to mine cryptocurrency en masse or that have significant financial resources will continue to be ripe targets for hackers. Cybersecurity experts can play an important role in protecting people, businesses, and their assets from these types of attacks.

For anyone deciding on a degree, there are many opportunities in the IT field for those with specialized cybersecurity skills. It’s impossible to know what role cryptocurrency will play in the future of monetary transactions, but whatever applications it has, will require the help of trained cybersecurity specialists.