Gray Areas, Exercise Extreme Caution!

Shri

Netizens Expose the Harsh Reality of Employment in the Cryptocurrency Industry: Gray Areas, Exercise Extreme Caution!

In the wave of digital currencies, employment in the cryptocurrency industry has become a new path for many to pursue financial freedom. However, in this tempting ocean, there are many treacherous reefs unknown to the public. Recently, a netizen posted revelations about several harsh truths regarding employment in the domestic cryptocurrency industry, making people wary of the shadows behind the industry's halo.

On the surface, the remote work offered by cryptocurrency companies sounds free and appealing. However, in reality, these companies use various means to make employees 'go offshore,' with common destinations including Thailand, Dubai, Malaysia, and the Philippines. Singapore and Hong Kong are often distant dreams due to the difficulty of work visa applications. If you attempt to refuse, the company may threaten to withhold your diploma.

The intensity of work in the cryptocurrency industry is closely related to market conditions. When the market is bullish, employees often need to work overtime, including weekends; but once the market turns unfavorable, mass layoffs can follow, and a last-in-first-out policy becomes the norm. As the cryptocurrency market trades around the clock, employees must be on standby at all times, blurring the boundaries between life and work.

The openness of the cryptocurrency industry surpasses traditional internet sectors to some extent. It values practical experience more than formal education, emphasizing whether you mind engaging in gray industries. Therefore, you'll find colleagues with varying educational backgrounds, from lower-tier universities to self-taught undergraduates. Highly educated individuals often shy away from the cryptocurrency industry due to concerns about engaging in gray areas, reflecting a certain tragedy within the industry. Working in the cryptocurrency industry often means no formal social security records and salary statements, impacting personal social security and posing obstacles to future background checks. Additionally, tax issues are a significant concern due to the opacity of income, exposing employees to tax risks.

Moreover, engaging in futures-related work may involve suspicions of crimes such as running a gambling den, aiding activities of information network crimes, and money laundering. Once these risks become reality, they not only affect an individual's career but may also jeopardize their freedom. Employment in the cryptocurrency industry often involves outsourcing forms of contracts, sometimes with only service agreements and no formal contracts. In such cases, companies can exploit employees at will, and employee rights are not effectively protected.

Therefore, the reality of cryptocurrency industry employment is far from the idealized image outsiders may have. In this field full of uncertainty and risks, everyone should carefully consider and not be deceived by superficial glamour. While pursuing financial freedom, it's crucial to pay attention to one's legal risks and career development.

Kamal531

That's something to be mindful of.

Iravan774

I haven't thought about working in the cryptocurrency industry.

Ritu13

This is not a question I need to consider because I don't have the ability and opportunity for it either.