TL;DR
- Fixed Rate Rewards is a new addition to Kraken Earn that offers eligible accredited US investors a Fixed APY up to 7% on cash and stablecoin balances.
- Customers choose a Duration of 3, 6, 12 or 18 months and lock their rate for the entire duration, without rate drift.
- Awards weekly compound in the locked allocation, and clients can choose to automatic renewal balances are therefore automatically renewed upon expiry.
- Available on USD, EUR, USDT, USDC and USDG sales, in Kraken’s Consumer and Pro applications, on the Web and on mobile.
If you hold cash or stablecoins on Kraken and want an easy way to use them, we built it for you. Fixed Rate Rewards is a new addition to Kraken Earn that offers eligible accredited US investors a fixed, locked-in return of up to 7% APY, for a term you choose.
Here’s the idea: Instead of a rate that drifts while you’re not looking, you choose a lock-up duration, 3, 6, 12 or 18 months, for eligible fiat and stablecoin balances. Whatever rate you see when you lock in, that’s the rate you keep for the duration. No drift, no adjustments, no surprises later.
“Many Kraken clients holding cash or stablecoins want the same thing: a clear, fixed return on that cash,” said John Zettler, chief product officer at Kraken Earn & Trade. “Fixed rate rewards provide this certainty. You choose how long you lock in your money and stables, agree on a rate, then get a steady stream of predictable cash rewards.”
How it works
- Choose a term. Choose 3, 6, 12 or 18 months. Longer terms generally come with higher rates.
- Lock in your rate. The rate you see upon assignment is fixed for the entire duration. If rates change later, it will only affect new allocations, not those you’ve already locked in.
- Win automatically. Your rewards accumulate every week, directly into your allowance.
- Set it and leave it. Enable auto-renewal when you assign or enable it at any time during the term. When this option is activated, your balance renews at maturity at the rate in effect for the same duration. When deactivated, your funds are simply returned at the end of the term.
Where it is available
Fixed rate rewards work with eligible fiat (USD, EUR) and stablecoin (USDT, USDC, and USDG) balances, and you’ll find them in Kraken’s Consumer and Pro apps, on web or mobile.
Ready to lock in your rate? Eligible customers can get started today in the Earn section of the Kraken app or on the web, or on Kraken Pro mobile or Kraken Pro Web.
Availability is subject to geographic and eligibility restrictions, and flat rate rewards are not available in all markets. In the United States, participation is limited to qualified investors. Reward rates are subject to change. Participation in the Opt-In rewards program involves an element of risk and may not be suitable for everyone. For full terms and conditions, refer to Kraken’s Terms of use.
