I signed up to Kraken chasing the referral bonus (up to $350 with the invite link and code thppsbdk) and because it had the "old reliable" reputation. A year later I'm still using it for a slice of my activity, mostly because once the verification was done it just kept working without drama.
Kraken has been around since 2011. They bought an Australian exchange (Bit Trade) and operate locally as a registered DCE. That local presence made the whole thing feel a bit more solid during setup.
The First 30 Days: Bonus Hunting and Setup
The invite link worked. I did the verification (more stages than some apps), deposited AUD, and traded the minimum required. The bonus credit arrived as BTC after the review period. It was a variable amount - I got something in the middle of the range, which was fine. Not life changing, but a decent kickstart.
The app is straightforward for spot. The Pro interface is there if you want deeper charts and order types. I mostly stayed in the app for the first few months.
Fees start at maker/taker 0.25%/0.40% and come down with volume. There's also the Kraken+ subscription for 0% fees up to a monthly cap (spreads and payment fees still apply). For my usage the standard fees were acceptable.
Months 2-12: What I Actually Did
I settled into small regular buys on a couple of majors, occasionally moving a bit to the earn products when rates looked okay, and using the Pro view when I wanted to set limit orders instead of market.
The local AUD support meant deposits and withdrawals were reliable. No weird international wire drama.
What grew on me: the security focus and the fact that they don't seem to push every high risk product at you constantly.
What I used less: the more advanced derivatives (availability can be limited for AU users anyway) and most of the experimental earn campaigns.
Support was responsive when I had a simple question about a withdrawal limit increase. Not the fastest chat on earth, but they answered like humans who knew the product.
The Things That Still Feel a Bit Old School
Verification and limit increases still feel more like dealing with a bank than a crypto app. That's not necessarily bad, but it is slower.
The bonus was a one time thing tied to the initial campaign. After that it's standard trading.
Some of the global features you see in marketing are restricted or different for Australian accounts. You get used to checking the local notices.
One Year Verdict
Kraken suits people who value a long track record and local registration and are okay with a slightly more traditional onboarding process. The referral bonus got me over the line to actually use it early. A year later it's one of the platforms I keep a portion of activity on, mainly for the reliability and AUD handling.
If you want the absolute simplest experience and don't care about the "old exchange" reputation, one of the newer local apps might feel lighter. If you like the idea of a platform that's been through multiple cycles and has a local entity, Kraken is still a reasonable choice.
The variable bonus was nice but not the reason I stayed. The boring reliability was.
Claim the Kraken offer - Start with the invite link or code thppsbdk if you're new and eligible for the current offer. Terms apply.
Disclaimer
Coupon CEO may receive a commission from qualifying sign-ups at no extra cost to you. Cryptocurrency investments are risky and can lose money. The referral bonus is for eligible new Kraken customers only - terms and conditions apply and may change. This article reflects personal experience and is not financial advice.
FAQ
Is Kraken still good in 2026 for Australian users?
For users who want an established platform with local registration and reliable AUD handling, yes. Simpler or lower fee focused users may prefer other options.
What happened to the up to $350 bonus after the first month?
The referral campaign is a one time offer for new users who meet the criteria within the window. After that it's regular trading.
Are the fees competitive?
Maker/taker starting 0.25%/0.40% with volume discounts. Kraken+ subscription removes trading fees up to a cap. Compare for your volume.
Is the verification still heavy after a year?
The initial setup is the heavy part. Ongoing, limit increases or certain features can still require additional checks, but day to day use is fine.
Does Kraken have good support for Aussies?
Local entity helps. Support is generally competent, though not always the instant chat experience some newer apps offer.
New here? Use the invite link or code thppsbdk while the current bonus is live - Claim the Kraken offer. Complete the steps within the timeframe. Terms apply.
