Los Angeles, CA, May 18, 2020 (GLOBE NEWSWIRE) – Los Angeles, California / GLOBENEWSWIRE / – May 18, 2020 -KRONOS ADVANCED TECHNOLOGIES, Inc., (OTC: KNOS) (“KNOS” or the “Company”) a product development and production company that has radically changed the way air is moved, filtered and sterilized announced today that it is accepting bitcoin through integration with Coinbase. Consumers can pay for Kronos air purifiers and all our products online using bitcoin and other cryptocurrencies.
Kronos President and BDO Michael Rubinov said, “It’s great to see Kronos accepting cryptocurrencies, adding these new buying options available to Coinbase users and all bitcoin enthusiasts looking to spend bitcoin in opening marketing opportunities new for Kronos’ unique product lines. “
Bitcoinmarketjournal.com recently published research findings on bitcoin users:
Over 42 million bitcoin wallets were in place globally by December 2019
It is estimated that five percent of Americans hold Bitcoin
There are 7.1 million active bitcoin users
Leading cryptocurrency exchange Coinbase has over 30 million users
It is estimated that emerging market consumers are often not considered statistically in the millions.
“In today’s economic reality it is easy to see the value of integrating the Coinbase merchant account, opening up our innovative products to new consumers, and being one of the first air purifiers in the industry to adopt cryptocurrency as a form of payment giving give us a competitive edge, ”says Michael.
Kronos ships worldwide so adding Bitcoin as a payment option made sense as crypto payments are global and have no risk of charging charges as with legacy credit cards. Implementation of the Coinbase solution was seamless, saving 2 – 3% on all transactions made in cryptocurrency against other payment methods. In our checkout page, the Coinbase logo is found throughout other major payment providers to make it easy for customers to choose Bitcoin or other cryptocurrencies as a payment option.
8000+ traders are already receiving cryptocurrencies using the services of Coinbase merchants.
The Company anticipates that adding crypto payments through Coinbase will give the company access to a broader customer base with the potential to attract countless new sales opportunities, unlike the successes Overstock has seen.
Established in June 2012, Coinbase is a digital currency wallet and platform where merchants and consumers can negotiate with new digital currencies such as bitcoin, ethereum, and litecoin. The Company is located in San Francisco, California. The number of users on Coinbase has passed 30 million with 8 million joining the exchange over the past year. Coinbase is America’s largest cryptocurrency exchange and wallet service.
Bitcoin is the most widely used alternative currency in the world with a total market cap of over $ 180 billion. The bitcoin network is made up of thousands of computers operated by various interests around the world.
FOR ADVANCED TECHNOLOGIES KRONOS, Inc.
Kronos started Advanced Technologies, Inc. operations in 2002 as a product development company that invented and radically changed the way air is moved, filtered and sterilized. Historically, Kronos has focused on developing, marketing and selling the Company’s proprietary air movement and purification technology. Serving the Indoor Air Quality (IAQ) market, Kronos technology uses state-of-the-art high voltage processes without using traditional HEPA filters. Kronos-based products quietly move air, filter and purify the air, and dramatically reduce energy consumption to half a 60-watt light bulb. Kronos devices can be variable in shape or size, and, as such, have the potential to be scaled down for car air purification or increased in size for industrial and hazardous gas destruction. The technology is currently being implemented in stand-alone air removal and filtration products replacing HEPA and other filtration systems. There is a wide range of additional markets for Kronos CORE standalone technology and embedded devices. Examples of markets that can be addressed immediately include healthcare facilities, operating rooms, clean room production and commercial car and aircraft cabins.
The Company is currently planning to file additional patents to improve its existing technology as well as enter new market segments but will continue to market air purifiers and other consumer products. The Company has recently become the exclusive distributor and license holder of the newest generation of air purifiers based on the Company’s CORE technologies.
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Some statements contained in this press release may be “forward-looking statements”. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not relate directly to any historical or current fact. Actual results may be materially material to those identified by such forward-looking statements as a result of various important factors disclosed in our filing with the OTC Markets at OTCMarkets.com. In addition to these factors, actual performance, results and future results may differ materially due to more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, government policy changes and public, the Company’s ability to raise capital on acceptable terms, if any, the successful development of the Company and its integration into its existing products and the commercial acceptance of the Company’s products. The forward-looking statements contained in this press release represent the views of the Company at the date of this press release and these views may change. However, while the Company may choose to update these forward-looking statements at some point in the future, the Company expressly disclaims any obligation to do so. These forward-looking statements should not be relied on as representing the Company’s views at any date following the date of the press release.
SOURCE: ADVANCED TECHNOLOGIES KRONOS, Inc.
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