Now, the main goal of this update is to help you guys get started on a reputable crypto exchange where you don’t have to worry about something happening to the money you have on it.
And at the same time, get yourself a nice sign-up bonus for getting started on that exchange. The good news is that I have used dozens of crypto exchanges in the last 6 or 7 years, so my experience will help narrow the gap for you without you personally having to do all the research yourself.
I will be going over 3 different options, starting with my top overall pick.
Best Crypto Bonuses
- Uphold $50 – Claim Bonus
- Robinhood $50 – Claim Bonus
- $Kraken $10 – Claim Bonus
1. Uphold
Uphold has come a long way in the crypto space. They actually started off as a stock and currency trading platform but have evolved into one of the premiere crypto exchanges, providing users with over 200+ coins to trade.
For new users, they have a generous $50 in free bitcoin when you sign up and deposit at least 600 dollars within the first 30 days of joining. This should be a relatively easy mark to hit since most of you are probably going to start with a minimum of $1000 anyway.
But other than that, Uphold has some good features for both long-term holders and swing and day traders. They have easy-to-use limit orders for buying and selling. Trading fees are also low as long as your trades are over $100 at a time.
Lastly, the security on here is top notch for giving you protection on your account. They give users two factor authentication for signing in and have added a new feature called Vault. Vault allows you to keep your coins protected offline within their platform. You can grab your bonus for getting started on Uphold here.
2. Robinhood Crypto
Okay, next we have Robinhood Crypto. And Robinhood isn’t exactly known for their cryptocurrency since it’s always been more of a stock trading platform, but it’s great for beginners and people who might just want to trade Bitcoin specifically.
In total, they only have around 20 cryptos available for trading, but a big draw to using them is that they have zero trading fees, which is a big deal. And when it comes to the bonus you can get for signing up, it’s pretty darn good.
They will give you up to $200 free when you make your first deposit with them. This is extremely generous and a good reason to at least give them a try.
Other than that, you can do other things on here, such as trade stocks on margin. Margin can be a little bit risky, but if you know what you’re doing, it’s a way to leverage your money to make more money faster.
Sadly, this isn’t available for cryptocurrency on Robinhood, but at some point, that might change. Overall, this is another exchange you can grab a nice bonus on. You can get started here.
3. Kraken
Kraken is a crypto exchange platform based in San Francisco and founded by Jesse Powell. It’s the third-largest platform known for cryptocurrency exchange globally, serving over 170 countries across the globe, including U.S. states.
New users on Kraken are eligible for a $10 sign-up bonus. To enjoy this bonus, you need to create an account using a referral link or directly on their platform.
On Kraken, users benefit from minimal trading fees, especially if they’re new to the platform. For instance, Kraken Pro charges 0.26% to buy and 0.16% to sell, making it one of the best trading platforms. You can get started on Kraken here.
Understanding Sign-Up Bonuses
Before going straight into the strategies for maximizing sign-up bonuses, it’s important to understand what they are and how they work. Sign-up bonuses are basically promotional offers provided by cryptocurrency exchanges to incentivize new users to register and start trading on their platform.
These bonuses can come in various forms, such as free coins, trading fee discounts, or even access to exclusive features. And it’s a big deal because these dollar amounts can add up, especially if you plan on trading with a lot of money.
Meeting the Requirements
Once you’ve chosen an exchange, it’s important to understand and fulfill the requirements to receive the sign-up bonus. These requirements can vary but typically include tasks such as verifying your identity, making a minimum deposit, or completing a certain number of trades.
Usually, from my own experience, clearing the requirements is easy. It usually just involves trading a certain dollar amount or making a large enough deposit to receive the promotion. Be sure to read the fine print on any exchange you decide to use.
Timing Your Sign-Up
Timing can play a crucial role in maximizing your profits from sign-up bonuses. Keep an eye out for special promotions or limited-time offers that can enhance the value of your bonus. Also, consider the overall market conditions and the potential impact on the value of the bonus tokens or coins you’ll receive.
Diversifying Your Portfolio
Once you’ve received your sign-up bonus, consider diversifying your portfolio to minimize risk. Instead of investing all your bonus tokens or coins in one asset, spread them out across different cryptocurrencies. This can help you mitigate potential losses and maximize your profits in the long run.
Final Thoughts
Using a crypto sign-up bonus is a smart way to venture into this asset class on whatever exchange you decide to go with. Uphold is our main pick because they check all the boxes of what most traders or long-term holders are looking for.
Finally, staying informed about the latest developments in the cryptocurrency space can help you make informed decisions about your sign-up bonus and overall trading strategy. Follow reputable sources, participate in online communities, and consider seeking advice from experienced traders.
In conclusion, sign-up bonuses can be a valuable tool for cryptocurrency traders looking to maximize their returns. By choosing the right exchange, meeting the requirements, timing your sign-up, utilizing the bonus coins, managing risk, and staying informed, you can make the most of these promotional offers and enhance your trading experience.
