How to Get Kraken Sign-up Bonus and Referrals
When you sign up on trading platforms or brokers' websites, they usually give you sign-up bonuses to attract your attention. These bonuses may seem like free money, but they come with certain conditions. For example, you may be required to trade a certain number of times or meet a minimum trading volume before withdrawing the bonus.
Likewise, they offer referral bonuses for people who invite their friends and family to the platform. Since these bonuses come with certain conditions, it's essential to understand how they work before you can benefit from them.
In this guide, we talk about the Kraken sign up bonus and how you can get it. Plus, we discuss Kraken's referral program.
Does Kraken Offer Bonuses?
Kraken is a popular cryptocurrency exchange that allows you to buy, sell, and trade various digital assets. The platform is easy to use and offers a variety of features, making it an excellent choice for those who want to get started in the world of cryptocurrency trading. Kraken also provides a mobile app, which makes it even easier to trade on the go.
If you've just started on the platform, you might be wondering if there's a Kraken bonus you can use to get a headstart. Unfortunately, there are no current Kraken promotions.
However, you can earn extra money on the platform in two ways: staking and an affiliate program. With staking, you can earn rewards for holding certain digital assets in your Kraken account. Meanwhile, the affiliate program lets you earn a commission on trades made by people you refer to the platform.
According to Kraken, you can earn up to 23% of your crypto when you stake it on the platform. Here's what you need to do:
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Start by buying or funding your Kraken account with an asset that qualifies for staking.
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If you already have multiple assets in your spot wallet, check which of them is eligible for earning staking rewards.
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Stake that particular asset.
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Kraken will give you rewards two times a week for that staked asset.
The number of rewards you'll earn will vary depending on the volume andliquidity of the particular asset you're staking.
How to Get a Kraken Sign-up Bonus?
The sign-up bonus is the incentive offered by many brokers and online trading platforms to encourage people to open an account and start trading. It is usually in the form of a cash deposit or a percentage of the amount deposited.
There is no Kraken sign up bonus right now. However, you might see multiple websites claiming Kraken has a sign up bonus, and they have the coupons for you to get the bonus.
However, when you click on the link, it will take you to the Kraken page that says "no sign up bonus at this time." Therefore, you do not get any money for initial trades when you sign up for Kraken.
However, you can look for future Kraken promotions since the platform has been known for giving out bonuses and other prizes in the past. Alternatively, you can stake your crypto assets to earn rewards.
As mentioned earlier, you can earn up to 23% of your asset holding through staking.
In the context of cryptocurrency, staking is essentially holding funds in a wallet to support the network.
It is different from day trading or holding the asset for long-term investment. When you stake, you can earn rewards in the form of new coins or tokens.
Kraken Referral
Kraken has a very attractive affiliate program where you can earn a commission for every friend that you refer to the site. In an affiliate program, a company will pay you a commission for referring customers to their business.
Kraken gives you 20% of the trading fee that your referrals pay. For example, if you refer a friend who trades $100 worth of crypto and pays a $10 fee, you will earn $2. If they trade $1,000 worth of crypto and pay a $100 fee, you will earn $20.
Thus, this is a great way to make extra money by simply referring others to the platform. You keep earning a percentage of the trading fee for your referrals indefinitely. However, the maximum payout per referral is $1,000.
Kraken collects trading fees as margin opening, rollover, and spot trade fees. You'll get a collective 20% of these fees.
Here are some notable features of this affiliate program:
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There are no deadlines, so you can keep referring people and earn commissions indefinitely.
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The payout is in real-time, so you don't have to wait for a particular time. Kraken sends your commission to your bank account rather than the exchange account.
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Plus, you get payouts by bank transfers. The payment will be in the default currency of your bank account.
Affiliate Requirements
To become a Kraken affiliate, you must have at least 5,000 subscribers or followers on your social media accounts. You don't necessarily have to be a financial or crypto social media influencer.
Kraken also allows mobile apps and websites to become its affiliates. However, they must be related to crypto or finance. So, for example, if you have a Facebook group related to finance or cryptocurrency with 5,000 or more followers, you're also eligible to be a Kraken affiliate partner.
Kraken Referral Codes
A referral code is a unique code assigned to you when you sign up for an affiliate program. This code tracks the customers you refer to the company.
When you sign up for the affiliate program, you will get a unique code from Kraken. You will share this code with the people you want to refer to Kraken.
The platform will monitor the people who use your code to sign up. Then, when they make a trade, you will receive a commission.
How to Get Extra Cashback for Trading With Kraken
If you want to earn cashback on your trades as a rebate, register with the Traders Union. When you sign up for the platform, you will get their affiliate link to make an account on Kraken.
Signing up on Kraken with this link will make you a part of the rebate program. First, add your Kraken account to the TU's Accounts section. After that, you'll get a certain percentage rebate on it through TU's affiliate program whenever you make a trade.
How to earn more with TU rebate?FAQs
What is Kraken Referral?
Kraken has an affiliate program where you can earn 20% of trading fees for every new verified customer that you refer to the platform. Social media influencers, apps, websites, and Facebook groups with over 5,000 followers are eligible for this program. When anyone from their group signs up for Kraken through their affiliate link and makes a trade, they get 20% of the trading fee.
How to Use a Sign Up Bonus on a Broker's Website?
When you create an account with a broker, you may be eligible for a sign-up bonus. It is usually a small amount of money, such as $10 or $30. The bonus may be a percentage of your first deposit. You can use this money to initiate your first trade on the platform.
Is Kraken Sign Up Bonus Still Available?
No, Kraken does not offer a sign-up bonus. However, you can earn money on the platform through staking, which is a process of holding funds in your account to help maintain the network's security. When you stake, you can earn rewards in the form of cryptocurrency. Alternatively, you can wait for Kraken promotions throughout the year.
Can You Withdraw Kraken Bonus?
When you earn a bonus from any broker or exchange's website, you cannot withdraw it. However, you can withdraw the profits you make by using that bonus to open a trade. For example, suppose you got a $10 sign up bonus, and you used it to initiate your first trade. You close the trade for a profit of $8. Even though you have $18 in your account, you'll only be able to withdraw $8.
Team that worked on the article
Chinmay Soni is a financial analyst with more than 5 years of experience in working with stocks, Forex, derivatives, and other assets. As a founder of a boutique research firm and an active researcher, he covers various industries and fields, providing insights backed by statistical data. He is also an educator in the field of finance and technology.
As an author for Traders Union, he contributes his deep analytical insights on various topics, taking into account various aspects.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
The topics he covers include trading signals, cryptocurrencies, Forex brokers, stock brokers, expert advisors, binary options. He has also worked on the ratings of brokers and many other materials.
Dr. BJ Johnson’s motto: It always seems impossible until it’s done. You can do it.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO). Mirjan is a cryptocurrency and stock trader. This deep understanding of the finance sector allows her to create informative and engaging content that helps readers easily navigate the complexities of the crypto world.