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 significantly changed the way air is moved, filtered and sterilized today announced that it accepts bitcoin through an integration with Coinbase. Consumers can pay for Kronos air purifiers and all of our products online using bitcoin and other cryptocurrencies.
Kronos President and BDO Michael Rubinov said, “It’s great to see Kronos accept cryptocurrencies, adding these new purchasing options available to Coinbase users and all bitcoin enthusiasts whom are looking to spend bitcoin whilst opening new marketing opportunities for Kronos’ unique product lines.”
Bitcoinmarketjournal.com recently published research findings on bitcoin users:
Over 42 million bitcoin wallets had been established globally by December 2019
An estimated five percent of Americans hold Bitcoin
There are 7.1 million active bitcoin users
Leading cryptocurrency exchange Coinbase has over 30 million users
Emerging market users that are often not considered in statistics are estimated to be in the millions.
“In today’s economic reality it’s easy to see the value of integrating a Coinbase merchant account, opening up our innovative products to new consumers, and by being one of the first companies in the air purifiers industry to adopt cryptocurrency as a form of payment gives us a competitive advantage,” -added Michael.
Kronos ships worldwide so adding Bitcoin as a payment option made sense since crypto payments are global and have no risk of chargebacks as with legacy credit cards. Implementing Coinbase solution was seamless, saving 2 – 3% on each transaction made in cryptocurrency versus other payment methods. In our checkout page, the Coinbase logo is featured along other major payment providers to make it easy for customers to choose Bitcoin or other cryptocurrencies as a payment option.
There are 8000+ merchants already accepting cryptocurrencies using Coinbase merchant services.
The Company anticipates that the addition of crypto payments via Coinbase will give the company access to a broader customer base with the potential to attract countless new sales opportunities not unlike the successes witnessed by Overstock.
Founded in June of 2012, Coinbase is a digital currency wallet and platform where merchants and consumers can transact with new digital currencies like bitcoin, ethereum, and litecoin. The Company is based in San Francisco, California. The number of users on Coinbase has passed 30 million with 8 million having joined the exchange over the past year. Coinbase is America’s biggest cryptocurrency exchange and wallet service.
Bitcoin is the world’s most widely used alternative currency with a total market cap of over $180 billion. The bitcoin network is made up of thousands of computers operated by various interests throughout the world.
ABOUT KRONOS ADVANCED TECHNOLOGIES, Inc
Kronos Advanced Technologies, Inc. began operations in 2002 as a product development company which invented and significantly 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 the use of traditional HEPA filters. Kronos-based products move air silently, filter and purify the air, and dramatically reduce energy consumption to half of a 60-watt light bulb. Kronos devices can be variable in shape or size, and, therefore, have the potential to be scaled down for air purification in cars or scaled up in size for industrial and hazardous gas destruction. The technology is currently being implemented in standalone products to move and filter air replacing HEPA and other filtration systems. There are broad ranges of additional markets for standalone and embedded Kronos CORE technology based devices. Examples of immediately addressable markets include health care facilities, operating rooms, manufacturing clean rooms and cabins of automobiles and commercial aircraft.
Currently the Company is planning to file additional patents in order to improve its existing technology as well as enter into new market segments but will continue to market air purifiers and other consumer products. Recently the Company became the Exclusive distributor and licensee of the newest generation of air purifiers based on the Company’s CORE technologies.
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Certain statements contained in this press release may constitute “forward-looking statements”. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as disclosed in our filings with the OTC Markets at OTCMarkets.com. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, governmental and public policy changes, the Company’s ability to raise capital on acceptable terms, if at all, the Company’s successful development of its products and the integration into its existing products and the commercial acceptance of the Company’s products. The forward-looking statements included in this press release represent the Company’s views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date of the press release.
SOURCE: KRONOS ADVANCED TECHNOLOGIES, Inc
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