Kraken Offers 3% Deposit Match on App Deposits Through March 9
Kraken has launched a February Deposit Match offering a 3% bonus on eligible new cash and crypto deposits made through its mobile app. Users must enroll in the promotion via the Kraken app and enable Auto Earn; deposits made before enrollment do not qualify. The match applies to net deposits (total deposits minus withdrawals) up to $1,000,000 (or local equivalent) per account and runs through March 9, 2026. Kraken will credit matched funds within 14 days after the promotion ends. Matched rewards are subject to an 18‑month hold: users must keep their account balance at or above their net deposit level through September 9, 2027, or risk forfeiture or clawback of the bonus. Eligible deposit methods exclude credit and debit cards, and transfers between Kraken and Kraken Pro do not count as new deposits. Depositors remain free to trade and use on‑platform products during the promotion and holding period; qualification is based on net deposit value, not market performance. The promotion is designed to drive app engagement and long‑term on‑platform balances, rewarding sizable net inflows while discouraging short‑term withdrawals.
Neutral
The promotion increases Kraken’s inflows by incentivizing new deposits with a 3% bonus, which could raise available liquidity on the platform but does not directly affect the market price of any specific cryptocurrency. Short-term trading activity may increase as users deposit funds to earn the bonus, potentially boosting exchange volume. However, the matched funds are locked behind an 18‑month hold and can be clawed back if balances fall below net deposit levels, which reduces the likelihood of immediate sell pressure from those bonus funds. Exclusions (card deposits, Kraken–Kraken Pro transfers) and the enrollment requirement limit uptake and immediate market impact. Net effect: modestly positive for Kraken’s on‑platform liquidity and engagement, but neutral for direct price impact on cryptocurrencies since the bonus mainly encourages custodial inflows rather than immediate buying. Traders should watch for temporary volume spikes around deposit and crediting dates and monitor overall platform flows if assessing order‑book depth or short-term liquidity.