LAS VEGAS, Jan. 08, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Costas, Inc. (OTC:CSSI) wholly owned subsidiary, AuthentaCash, a division of AuthentaTrade Ltd. is now operational selling Cryptocoin Automated Teller Machines, referred to as Crypto Kiosks. AuthentaCash’s kiosks are equipped with cutting-edge technology that allows users to purchase cryptocoins, on site, in a variety of retail settings anywhere around the globe.
The Company expects immediate cash flow and bottom line profits from the purchasing and the implementation of the Crypto Kiosks in the first quarter of 2018.
The first 10 machines will be ready to ship in 45 days. Costas’s monthly order fulfillment potential is 100 units with expected positive cash flow to run concurrently with sales.
Costas CEO, Mr Cliff Redekop, commented, “Being able to offer Crypto Kiosks means that our AuthentaTrade division will be offering a unique and unprecedented end to end solution for both fiat and cryptocurrencies, to retailers and individuals, and as an entry point for the billions without bank accounts. The multiple revenue streams generated will propel Costas’s earnings.”
Anyone interested in owning Crypto Kiosks will be able to purchase them with unprecedented ease from AuthentaTrade.com or Authentacash.com. AuthentaCash has streamlined the purchasing process for their clients, providing an online purchasing portal for anyone who wishes to place crypto kiosks in their place of business. AuthentaCash kiosks are a complete optimized turn key device, linked in to the AuthentaTrade trading platform, providing access to buying and selling cryptocurrencies, moving fiat currencies to and from the AuthentaCard ATM card, and getting cash right from a cryptocurrency wallet. This provides multiple streams of income to the kiosk owner.
The team at AuthentaCash tried to purchase Crypto Kiosks, and was not able to get a timely response, if any response, from existing manufacturers. They quickly recognized a significant market opportunity to provide this very popular item, as Crypto Kiosks appeared to be back ordered and were provided by companies lacking the customer service the market demands. The decentralized banking market is growing at an unprecedented rate, and those wanting to purchase Kiosks will find that they can shop, purchase, fine tune details and receive a delivery date within a matter of minutes, simply by going to AuthentaCash.com.
The team at AuthentaCash has secured a strategic relationship with a North American based ATM and Crypto Kiosk manufacturer, and has a number of exclusive territories for distribution. By agreement, Costas’ s Crypto Kiosk division, AuthentaCash will be able to deploy Crypto Kiosks in a riskless transaction model of up to 1,200 Crypto Kiosks in this first year. AuthentaTrade provides proprietary software that communicates with the kiosks, linking them to the exchange, which increases AuthentaTrade’s users and distribution of its dedicated wallets.
The technology and security provided by AuthentaTrade allows a ‘Plug & Play’ Crypto Kiosk, easily managed by its owners. Further, the advanced technology of our Crypto Kiosks is able to provide globally accepted AuthentaCash debit cards tied to AuthentaTrade client accounts and work over the second largest global card network- China Union Pay. We believe there will be significant market growth for the provision of debit cards via the AuthentaCash Crypto Kiosks.
Merchants will now be able to provide their clients access to use AuthentaTrade’s virtual terminal where they can process Visa, Master Card, and China Union Pay to load their AuthentaCash Card and purchase Crypto through the kiosks or use the card for in store “gift card” style purchases. Costas feels that through their banking relationships, software and exchange platform, it has a solid alternative to standard merchant terminals for point-of-sale transactions. The Company plans to immediately connect merchants to the “Unbankable” market, which currently has 2.5 billion people without a bank account, according to Business Insider.
There are merchants all around the globe that get the double-edge benefit of owning and operating their own Crypto Kiosk by moving their Point-of-Sale Merchant services to the Crypto Kiosk and by the revenues generated from customers utilizing their Crypto Kiosk on everyday financial transactions.
Our manufacturer will produce the next generation of Crypto Kiosks in North America at a lower cost and will offer an optimal delivery speed. The profits from sales, leasing and the on-going licensing fees from every transaction, will be paid directly to Costas. The Company expects immediate cash flow and bottom line profits from the purchasing and the implementation of the Crypto Kiosks in the first quarter of 2018.
The First 10 machines will be ready to ship in 45 days. Costas’s monthly order fulfillment potential is 100 units with expected positive cash flow to run concurrently with sales.
Costas will make purchasing Crypto Kiosks easier than buying a car and only charging, through our licensing, a 1.5% transaction fee. The average Crypto Kiosk transaction fee is 9.16% according to Coin ATM Radar leaving a 7.66% average profit for Crypto Kiosk owners and operators.
In short, Costas’s Crypto Kiosk sales model will make it easy for customers by:
1) Delivering a fully functional unit directly communicating with exchanges and customer’s crypto wallets;
2) Providing a fully functional software system and crypto currency wallets serving most market traded coins;
3) AuthentaCash Crypto Kiosks can integrate current payment systems tied to the AuthentaTrade Exchange with card printing technology that converts “unbankable” people, into clients, enabling them to enter the processable consumer-financial community.
According to Statistica there were 1,885 Bitcoin ATMs as of December 2017 globally. Cross-referencing with Coinradar.com, specific operating Crypto ATM’s as of 2017-12-29, were: 2005 (100%) Bitcoin (#BTC) ATMs, 699 (34.8%) ATMs w/ altcoins (#ALT) support, 662 (33%) Litecoin (#LTC) ATMs, 288 (14.3%), Ethereum (#ETH) ATMs, 156 (7.8%) Dash (#DASH) ATMs, 107 (5.3%) Bitcoin Cash (#BCH) ATMs, 10 (0.5%) Zcash (#ZEC) ATMs, 4 (0.2%) Dogecoin (DOGE) ATMs, 1 (0.1%) Monero (#XMR) ATMs, Totaling 3,933. We believe the market is highly underserved. Currently there are no known Ripple Coins (#XRM) to Costas.
For more information please visit www.AuthentaTrade.com/AuthentaCash, or www.Costas.com.
ABOUT COSTAS, INC.: Costas, Inc. invests in early stage Digital Currency projects with operations in Las Vegas, Nevada. Costas endeavors to maximize its positions in new and existing businesses which may benefit dramatically by new developments and applications in blockchain technology. Costas believes strongly in the growth of Distributed Asset Technology and its integration into Financial Technologies.
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Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements.
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