How To Pick The Right Web3 Company For Your Next Career
- Career Advice
- Published on December 8, 2022
Many people are considering moving to a web3 or crypto company as the cryptocurrency sector continues to expand and change. You must carefully weigh your options and ensure you're joining the correct organization if you're considering leaping. The following advice will help you choose the best web3 or cryptocurrency company:
Research the funding.
One of the critical things to look at when considering joining a crypto company is the amount of funding they have. Make sure there is enough runway for the company to continue operating and growing. Companies already having traction or funding are generally considered lower risk than those just starting.
Consider the company's payment structure.
Many crypto companies offer payment in tokens, but this can be a hazardous proposition. Make sure you understand the risks associated with token payments and decide if it's the right option for you.
Evaluate the Team Culture
Think about the company's culture and people. One of the best ways to get a sense of a company's culture is to research Glassdoor or Twitter for feedback from current and former employees. You can also check out the company's website and social media to see how they present themselves and get a sense of their values and mission.
Research the people in the team. Take the time to look up LinkedIn team members and check their Twitter accounts. This will give you a sense of their backgrounds, experience, and personalities. Please make sure you are comfortable working with them daily.
Consider the size of the company. Larger companies can move slower, even in the fast-paced world of crypto. A smaller company may be better if you look for a more agile and dynamic environment.
Be Careful with DAOs
Be cautious of companies structured as a DAO (Decentralized Autonomous Organization). While the concept of a DAO is exciting, it's still relatively new and untested. Before deciding, ensure you understand the risks and rewards of working for a DAO.
Remote Work Consideration
One of the defining characteristics of many crypto companies is that they are remote. This can be an excellent option for many people, as it allows flexibility and the ability to work from anywhere. However, it's essential to consider if this is the way you want to work. Working in an office environment can have advantages if you are young and just starting your career. For example, it can allow you to be close to mentors and colleagues who can provide guidance and support. It can also create a sense of camaraderie and community that can be harder to achieve in a remote setting. So, before joining a crypto company, consider whether remote work is the right fit for you and your career goals.
Fast-paced Work Environment
When considering joining a crypto company, one thing to remember is that the industry is fast-paced. This means that you should expect something other than a traditional 9-to-5 job with regular hours and a predictable workload. In crypto, things can change quickly, and you may be called upon to work long hours and handle multiple tasks simultaneously. This can be exciting and rewarding for some people, but it's only for some. If you're the type who likes a predictable work environment, a crypto company may not be the right fit for you. But if you thrive in a fast-paced environment and enjoy the challenges and rewards that come with it, then a career in crypto could be a great option.
Company Legal Headquarters
Another vital factor to consider when picking the right web3 or crypto company is where the company is based. If you have any issues with payment or legal matters, you want to ensure that you're working with a company founded in a country with a robust legal system. This will help ensure that you have recourse if any issues arise. Avoid companies based in countries with questionable legal systems or known for their offshore privileges. By choosing a company with a solid legal foundation, you can protect yourself and your interests in case of any problems.
The last thing to consider when looking at crypto companies that offer remote work is the nature of the employment contract. In many cases, remote work is handled via freelance contract, which means you won't be eligible for the usual benefits with regular employment contracts. This includes health insurance, social insurance, and unemployment insurance. If you're considering joining a crypto company that offers remote work, make sure you understand the terms of your employment contract and the benefits (or lack thereof) that come with it. This will help ensure that you're making an informed decision and that you're prepared to work remotely.
Overall, doing your homework and carefully considering all the factors before joining a web3 / crypto company is essential. By taking the time to research and evaluate your options, you can increase your chances of finding the right company for you and reduce frustrations later.