[Expired] Kraken 3% Cash & Crypto Deposit Match (18 Month Hold)

The Offer

Direct Link to offer

• Kraken is offering a 3% deposit match on any cash deposited or crypto transferred between February 2, 2026 and March 9, 2026. Enrollment required. 

Additional Details

• Offer valid February 2, 2026 through March 9, 2026. All deposits between these dates (after enrollment) count.
• Must maintain the funds for 18 months after March 9, 2026. 
• Deposit any amount from $1 up to $1,000,000 USD.
• Auto Earn must be enabled in the process of enrolling in the February Deposit Match. Opting in to Opt-In-Rewards (OIR) is not required to participate or receive the 3% match.
• You’re free to trade and manage your assets throughout both the promotion window and the 18-month hold period (March 9, 2026 – September 9, 2027). Qualification is based on the value of your net deposits during the promotion period, not market performance.
• Note: New York and Maine states do not allow Kraken. (See this comment about Nevada.) 

Our Verdict

I can see this bonus making sense in 3 different ways:

1. Cash APY bonus: As a cash bonus, someone can transfer in any amount of cash they want, buy SGOV with the cash and let it sit in the brokerage. Basically, you’ll be getting an extra 3% APY on top of a solid APY savings account rate. That’s like an extra 2% per year. Solid.
2. Buy Stock: Someone who has cash that they’ll using anyway to buy stock/ETFs can transfer in cash and then proceed to buy the stock in Kraken. 
3. Crypto Transfer: For someone with crypto holdings, they can transfer their crypto for the match. Crypto is not my thing so I’ll skip any analysis on this angle. 

Personally, since I already have an account with Kraken from another bonus offer, I’m considering doing this as a mixture of a cash bonus and stock bonus. I’ll transfer over a chunk of cash and buy SGOV with the funds. Then, I’ll use those funds slowly to buy my dollar-cost-average S&P500 ETF purchase each week for the next 18 months. After 18 months I can ACATS transfer the stock out of Kraken, if I choose. 

(My only hesitation is that if I do this promo I’m not sure how it will effect the other stocks transferred for a prior promo. Will I be able to transfer out those funds in November when the qualification period ends or will that decrease my overall portfolio with Kraken and thus invalidate this new 3% promo? I’m thinking to keep the new funds is separate ETFs to track it more easily, but want to get confirmation from Kraken first that this will work.)

Another note: cash held in Kraken does not seem to be SIPC insured. Once you buy stocks/ETFs it will fall under the SIPC protection. 

Hat tip to reader Elaz