Kraken's $5–$100 reward box for referred users' first options trade
New Kraken options traders who sign up with a referral code and trade $100 in options can open a one-time reward box worth $5 to $100 in BTC.
Kraken has added a reward for new options traders who sign up with a referral code: trade $100 in options and you unlock a reward box worth between $5 and $100. Each new user gets one box, for their first options trade only. The offer appeared on October 8, 2026 in the Kraken affiliate dashboard that nReferral uses as a Kraken affiliate, which lists it as running until December 31, 2026. Kraken's public terms for a matching reward, the First Options Trade Reward, have applied since July 16, 2026. They do not mention a referral code, and they add conditions of their own, set out below.
What Kraken's terms require
Under the First Options Trade Reward terms, you must enrol in the promotion, deposit $20 in cash and trade at least $100 in options on Kraken Pro. Trades placed before you enrol do not count. You must be at least 18, or older where the local age of majority is higher, take part as an individual, have a Kraken Pro account with options and futures trading enabled, and have never held an options position. The offer is open only where Kraken offers derivatives, and residents of the UK, the European Economic Area, the US and Australia cannot take part. The terms set no fixed end date: the promotion ends when an enrolment cap is reached, and Kraken does not say how large that cap is.
What the box is worth
The reward is paid in BTC and decided by a random draw. Kraken lists approximate odds of 49% for $5, 43% for $10, 5% for $25, 2% for $50 and 1% for $100. That means most boxes hold $5 or $10, and the average works out at about $10. Kraken credits the reward within 14 days of qualifying, but only if your account is in good standing, has options and futures enabled and has completed identity verification at that point; otherwise the reward may be forfeited or taken back. Kraken can also disqualify people and reclaim rewards for wash trading, self-funding, duplicate accounts, using a VPN or proxy to get around location limits, or giving false information. Any tax on the reward is the participant's responsibility.
Background: options on Kraken
Kraken launched bitcoin and ether options on Kraken Pro on July 16, 2026. They are European-style contracts settled in US dollars, with weekly, monthly, quarterly and semi-annual expiries, and at launch they were traded through request for quote (RFQ) rather than a public order book. Options share one wallet with spot and futures, and portfolio margin is on by default. Kraken's launch post said options were first offered to eligible professional and institutional clients, so check in Kraken Pro that options are available to your account before you deposit. Alexia Theodorou, Kraken's director of derivatives, told CoinDesk that "the gap in crypto options isn't demand, it's design."
Risks and what nReferral earns
Kraken's terms warn that derivatives trading carries significant risk and that losses can exceed your initial investment. A $100 options trade made only to unlock a box can lose more than the box is worth. nReferral is a Kraken affiliate and may earn a commission when people sign up with its referral code, 83yhwjdj, and trade. Under Kraken's referral terms, the same code may also give a 20% rebate on options trading fees. Neither the dashboard nor the public terms say whether that rebate and the reward box can be combined.
Sources
KRAKEN REFERRAL CODE 2026
| Product | Trading Rebate |
|---|---|
| Spot Trading | 20% |
| Margin Trading | 20% |
| Futures | 20% |
| Tokenized Equity | 20% |
| PTL Trading | 20% |
| Prop, first purchase | 20% |
| Rollover | 20% |
| Options | 20% |
Available rewards are confirmed during registration.
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