What is a Kraken Referral Code?
A Kraken referral code links a new account to the person or platform that invited it, and it switches on rewards that a standard signup never receives. Our code 5z4k3twz is a cashback link, which is the newer of Kraken's two referral formats. It grants 10% cashback on the trading fees you pay on Kraken Pro, the exchange's full order book interface.
The cashback format sits under what Kraken's referral program terms call the Revenue Share Referral Plan. Under this plan, the invited user receives cashback on their own eligible trading fees, credited to their Kraken account once the qualifying criteria are verified.
This differs from the older format most code-listing sites still describe, where both sides receive a one-off bonus. Kraken continues to run those fixed offers in selected countries, but the cashback link is the version that keeps paying as long as you trade.
Every format shares the same catch. The referral has to be attached before the account exists. Kraken states that a referee must sign up through a valid referral link, and support cannot bolt a code onto an account that registered without one.
How to Use a Kraken Referral Code
We set up a fresh account through our own cashback link to confirm each step. Opening the link to placing a first fee-discounted trade took us around 15 minutes with an ID document ready.
- Open the cashback link: Go to the Kraken signup page through the referral URL. The code 5z4k3twz is embedded in the link, so there is nothing to type. If you register manually instead, enter the code in the referral field before submitting the form.
- Create your account: Register with your email address, set a strong password, and confirm the verification code Kraken sends to your inbox. Select your country of residence carefully, because your ID document must match it at reward time.
- Verify your identity: Complete KYC (the identity check every regulated exchange runs) with a passport, driver's license, or national ID. Kraken's referral terms make verification a hard requirement for any reward, so clear it before funding.
- Secure the account: Enable two-factor authentication from the Security settings. The step is optional for the referral but takes two minutes.
- Deposit funds: Fund the account with a bank transfer or a crypto deposit. Fixed-bonus offers require a cash deposit from a bank account and exclude card deposits, so use a bank method if a signup bonus is showing in your app.
- Trade on Kraken Pro: Place your trades through the Kraken Pro interface rather than the simple Buy widget. The cashback applies to eligible order book trading fees, and Pro's maker and taker rates are far lower than the instant-buy pricing.
- Check your rewards: Kraken credits referral rewards to your account after verification. Fixed bonuses arrive within 14 days of completing the requirements, and you can track progress from the Referrals dashboard in your account settings.
How the 10% Cashback Works
The cashback is a rebate on fees you were going to pay anyway, so its value scales directly with how much you trade. Kraken Pro charges maker and taker fees starting at 0.25% and 0.40% at the entry tier, falling as your rolling 30-day volume climbs, and reaching 0% maker and 0.10% taker above $10 million.
A trader who fills $20,000 of taker orders at the base tier pays $80 in fees, and the 10% cashback returns $8 of that. Someone trading $200,000 in a month gets roughly $70 back at the tier rates that volume unlocks. The amounts stack on top of the volume discounts Kraken already applies.
Check the exclusions before you count on the rebate. Kraken's terms exclude fiat-to-stablecoin trades, stablecoin-to-stablecoin trades, bundles, and equities from eligible trading, so parking cash in USDT or buying tokenized stocks generates no cashback. Rewards are only final once credited, since Kraken verifies eligibility first and can withhold payment from accounts it flags for wash trading or duplicate signups.
If you want a refresher on why maker orders cost less than taker orders in the first place, our maker vs taker fees guide breaks the mechanics down.
Kraken Referral Bonus for New Users
Alongside the cashback link, Kraken runs fixed-value referral bonuses in a shorter list of countries. These offers sit behind the dollar figures quoted across the web, and the real numbers are more modest than most of those pages suggest.
On the Kraken Pro app, each successful referral pays a fixed $20 in your default currency, delivered as BTC or the stablecoin USDG depending on region. The headline "up to $200" reflects the cap of ten rewarded referrals per account. Bonus amounts on the standard Kraken app run higher in some regions, and the exact deposit and trade thresholds appear inside the app, so treat the in-app terms as the source of truth.
The qualifying rules are strict:
- Complete the steps within 30 days: New accounts have a 30 day window to deposit and trade, and the app displays a countdown.
- Deposit cash from a bank: Fixed bonuses require a fiat deposit from a bank account. Card deposits do not qualify.
- Buy real crypto: Stablecoin purchases are excluded, so the qualifying trade must be a non-stablecoin asset such as BTC or ETH.
- One reward per household: Kraken limits bonuses to one per device per household, on a first come first served basis.
- No paid promotion: Sharing your own link through ads or sponsored posts gets the link deactivated and the bonuses voided.
Kraken's fixed offers are currently limited to the USA, Puerto Rico, Canada, Brazil, Australia, and parts of Europe including Germany, France, Spain, Italy, the Netherlands, Belgium, Poland, and Ireland. The cashback link reaches a wider set of countries, which is why we recommend it as the default.
Where Do I Find My Kraken Referral Code?
Once your own account is verified, you can generate a personal code and share the rewards forward. The tools sit in slightly different places depending on the interface.
On Kraken Pro Web
- Log in at pro.kraken.com and open your account menu in the top corner.
- Select the Referrals section to open the dashboard.
- Under Cashback Links, choose Create Cashback Link, and pick Pro as the destination.
- Copy either the full referral URL or the short code shown beneath it, then share it directly with friends.
On the Kraken Pro App
- Open the app and go to your Account page.
- Tap Invite friends beside Referrals. A referral banner on the home screen leads to the same place when an offer is live.
- Tap Invite friends again to generate your link, then share it through your chosen messaging platform or copy it for later.
The dashboard tracks each invitee in real time, showing who has signed up, who has traded, and which rewards have been credited.
Kraken Referral Program vs Affiliate Program
The referral program is self-serve and built for individuals. Every verified user can generate a link, share it privately with friends, and collect the associated rewards without applying for anything.
The Kraken Affiliate Program is a separate, application-based channel aimed at creators, publishers, and communities. Affiliates earn an ongoing revenue share of the trading fees generated by the users they refer, covering spot and futures trades while excluding funding payments and conversion fees. Payouts run through the Impact partner platform straight to the affiliate's bank account in its default currency, so commissions never touch the exchange balance.
Kraken's affiliate team reviews applications, typically within five business days, and the program suits people planning sustained promotion to an audience. For anyone inviting a few friends, the referral dashboard does the job with no paperwork, and the cashback link gives those friends a better deal than a bare affiliate link would.
Kraken Country Availability
Kraken serves clients in most countries worldwide, though the picture varies by product. Spot trading is broadly available, while margin, futures, and the fixed referral bonuses each carry their own regional lists. Residents of sanctioned jurisdictions cannot register at all, and a handful of US states sit outside specific offers.
The referral terms add one detail that catches travelers and expats. Your identity document must be issued by the same country you selected at signup, or Kraken withholds the reward. Register with your actual country of residence and matching ID.
For the full breakdown of where each Kraken product is available, see our Kraken supported and restricted countries guide.
About Kraken
Kraken was founded in 2011 by Jesse Powell and stands among the longest-running crypto exchanges, with a security record that includes pioneering proof-of-reserves audits back in 2014. The platform spans spot trading on hundreds of assets, margin, futures, staking, and tokenized stocks through its xStocks range.
The company has spent the past two years transforming from a crypto exchange into a broader trading group. It acquired the US futures platform NinjaTrader for $1.5 billion, added the derivatives venue Bitnomial and payments firm Reap, and confidentially filed for a US public listing in late November last year. Recent funding rounds have valued parent company Payward at up to $20 billion.
On the regulatory side, Kraken holds a MiCA license through the Central Bank of Ireland for its European operations, and the US SEC dismissed its lawsuit against the exchange early last year. We rate the platform highly on security and fee transparency in our full Kraken review, where we also cover its weaker points around card deposit costs.
Final Thoughts
The practical reason to sign up through the Kraken referral code 5z4k3twz is the 10% fee cashback, because it works everywhere Kraken Pro does and keeps paying on every eligible trade rather than expiring after a signup task.
If you live in one of the fixed-bonus countries, check the offer inside your app after registering through the link, complete the bank deposit and non-stablecoin trade inside the 30 day window, and the one-off bonus lands on top.
The cashback rebates fees rather than granting free money, so its value depends on your trading activity. Casual buyers making a few small purchases will only ever see a few cents back. Active Kraken Pro traders, already paying volume-tiered fees that rank among the lowest of the major regulated exchanges, are the ones for whom 10% back adds up.
