Kraken is one of the oldest cryptocurrency exchanges in the industry. It occasionally offers promotional sign-up bonuses or rewards for its customers and often comes out with new features that reward you for trying out. If you’re looking for Kraken promotions, check out the referral bonus and other offers below.
Kraken is a US-based cryptocurrency exchange founded in 2011. It provides services to buy, sell, and exchange cryptocurrencies, including market leaders Bitcoin and Ethereum. In addition to buying and selling crypto at market rates, Kraken offers margin accounts and futures trading, riskier products useful for some trading strategies.
Kraken was the first Bitcoin exchange to pass a cryptographically verifiable proof-of-reserves audit and the first to have its market data displayed on the Bloomberg Terminal. In addition, it is the largest Bitcoin exchange in euro volume and liquidity.
The platform earns its money by taking a percentage in fees from every trade made on the platform but offers competitively low fees even to low-volume users if they sign up for Kraken Pro.
Kraken Pros And Cons
Advanced trading tools Not available to New York residents
Security Slow funding and verification of accounts
High liquidity exchange Credit/Debit card support is currently unavailable.
Over 120 coins are supported. Higher fees when not using Kraken Pro
Kraken is one of the more transparent exchanges in terms of its security measures. Its website says that 95% of all deposits are kept in offline, air-gapped cold storage, meaning they are isolated from unsecured networks. In addition, its servers are housed in secure cages under 24/7 surveillance by armed guards and video monitors, with all sensitive account information encrypted.
Following good online security practices, you can protect your Kraken account from cybercriminals. Once an account is funded, it’s wise to add two-factor authentication. You can create two-factor codes for sign-in, account withdrawals, and trades. There’s also a feature to lock your account from any changes.
Kraken Sign Up Bonus
The sign-up bonus is an incentive many brokers and online trading platforms offer to encourage people to open an account and start trading. It can be in the form of cash deposited into your account or a percentage of the amount deposited.
Currently, there is no Kraken signup bonus. However, multiple websites may give you the impression that a Kraken signup bonus exists and provide coupons for you to earn a bonus.
Kraken 20% Commission Affiliate Program
Kraken offers you the chance to earn up to $1,000 by inviting friends to open accounts and trade with Kraken. Your commission will be 20% of your friend’s fees (including spot trade fees, margin opening fees, and margin rollover fees) for as long as they trade with Kraken. Payments are made once a month and are automatically credited to your account.
In order to become a Kraken affiliate, you must have at least 5,000 subscribers or followers on your social media accounts. Being a financial or crypto-related influencer is not required.
You will receive a unique code when you join the Kraken affiliate program. You can share this code with people you want to refer to the platform. When they make a trade, you will get a commission.
Kraken charges fees that are competitive with other cryptocurrency exchange programs. They are not the cheapest exchange, but their maker-taker fees are lower than average. Kraken charges various fees based on the amount you trade, with discounts given to large trading volumes. Deposits and withdrawals vary.
Kraken offers a staking program, through which you can earn rewards for holding certain digital assets in your Kraken account. Meanwhile, the affiliate program lets you earn commission on trades made by people you refer to the platform.
The number of rewards you will earn will vary based on the amount of the particular asset you stake and its overall liquidity.
In my opinion, the Kraken exchange platform offers one of the best crypto deals available. If you’re interested, check out the other ways to get free cryptocurrency. New to crypto trading? Consider BlockFi and Voyager as well.