Within ten days in late June, four licensed crypto exchanges rolled out overlapping customer acquisition campaigns targeting users in the European Economic Area. Transfer bonuses, cashback offers and a €1 million prize draw all arrived ahead of MiCA’s 1 July transitional deadline.
On 1 July, national grandfathering for exchanges without a Crypto-Asset Service Provider licence ended, cutting off unauthorised platforms, including Binance, from onboarding in the EEA. The licensed platforms are competing for those users with money.
Four Campaigns, One Deadline
Kraken opened first. From 19 June to 31 July, every euro deposited by enrolled EEA users earns one entry into a €1 million prize draw, open to both new and existing customers across Kraken Pro and the main app.
€1,000,000. One prize draw. The more you move, the more you're in.Switch to Kraken Europe's MiCA and MiFID licensed exchange and every euro you deposit earns an entry. Switch now ⤵️https://t.co/W0VgPZ9X2c*T&Cs apply pic.twitter.com/WOm0kVdGpe
— Kraken (@krakenfx) June 19, 2026
Bybit EU launched its "Move Your Funds, Get Rewarded" campaign the same day, running to 31 July for new users in the EEA excluding Malta. The top tier pays 3% annualised cashback on cumulative crypto deposits of $50,000 or more, paid monthly in USDC over 12 months and conditional on minimum spot trading volume.
Move your funds. Get rewarded.Join us and enjoy exclusive benefits designed for Europe's next chapter.Licensed under MiCAR in Austria, Bybit EU serves users across the EEA, with the exception of Malta, through a dedicated European platform.
— Bybit EU (@BybitEU) June 22, 2026
OKX followed on 29 June with the largest headline number: an 8% bonus on net deposits, capped at €20,000 and paid in USDC over 52 weeks, for EEA residents who opt in and deposit at least €10 before 31 July.
New accounts qualify for an additional welcome bonus of up to €400 and a 30-day VIP upgrade tied to a derivatives appropriateness assessment.
Every day, more of Europe chooses The New Money App.MiCA-authorised, and millions are already switching. Move to OKX today and get an 8% deposit bonus. pic.twitter.com/k7LPayFUQF
— OKX (@okx) July 9, 2026
Coinbase is promoting a 5% bonus on crypto transferred to the platform through its official X account, with eligibility tied to a paid Coinbase One subscription. The offer covers users in Germany, France, Italy, Spain, Belgium, Poland, Sweden and the UK, and full terms sit behind a login wall.
Move your crypto to Coinbase → get a 5% bonus on top.Fast, and in full.All while accessing our extensive products and liquidity on a MiCA-compliant exchange.Available now for users from across the EU who sign up for Coinbase One. pic.twitter.com/EgtwGGOgGp
— Coinbase ????️ (@coinbase) July 6, 2026
The mechanics differ, but each campaign encourages users to move assets onto licensed platforms, with several rewarding customers over periods of up to a year.
The Incentives CFD Brokers Lost in 2018
ESMA's 2018 product intervention measures for CFDs, introduced alongside leverage caps and negative balance protection, prohibited providers from offering retail clients monetary and non-monetary benefits for opening accounts, funding them or trading.
The regulator's list covered account opening bonuses, trading bonuses, volume-based rebates and gifts, with an exception only for information and research tools.
ESMA's stated reasoning was that such incentives distract retail clients from the risks of the product and encourage more active trading. The temporary measures became permanent in 2019, when national regulators across the EU adopted them into domestic product intervention rules, where they remain in force.
Meanwhile MiCA obliges CASPs to act honestly, fairly and professionally in the best interests of their clients, and requires marketing communications to be fair, clear and not misleading. The regulation contains no provision restricting deposit bonuses, transfer rewards, cashback programmes or prize draws for retail clients.
The Bottom Line
Within weeks of the transitional deadline, competition among licensed exchanges has shifted from securing authorisation to acquiring customers, using tools that disappeared from the European CFD market seven years ago. The framework that permits them entered formal review in May.
This article was written by Tanya Chepkova at www.financemagnates.com.
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