Tyler Hersko

tyler.hersko@vcstar.com, 805-437-0312

Got bitcoin? Access to the digital currency is now just a brief ATM visit away for Ventura County residents.

Coinsource, a company that establishes bitcoin ATMs across the nation, officially announced the launch of two bitcoin ATM machines in Oxnard and Simi Valley on Monday. The Oxnard bitcoin ATM is open 24 hours a day at Oxnard Gas and Mart at 1400 S. Oxnard Blvd. The Simi Valley machine is open from 8 a.m. to 10:30 p.m. at First Street Market & Liquor, 1955 First St.

Due to the rising popularity of bitcoin in California and the success of its Los Angeles-based bitcoin ATMs, Coinsource decided to branch out to surrounding regions such as Ventura County. Customers understand what bitcoin is and are starting to use the digital currency in California, making the region a prime market, according to Coinsource Chief Operating Officer and co-founder Travis Gough.

“We’ve been targeting various cities that have a bitcoin following,” Gough said. “Los Angeles has been a focus for us over the last several months, and we’ve seen success. Since then, we’ve started to push machines into the surrounding cities.”

The ATMs allow customers to exchange cash for bitcoin.

Released to the public in 2009, bitcoin is touted as an anonymous, borderless and secure currency with a variety of uses. It is stored in virtual wallets as opposed to major banks and can be accessed quickly via mobile phones.

For shoppers, businesses including Microsoft, Expedia, Dish Network and Dell accept bitcoin payments, with many more touting various discounts. The fluctuating value of bitcoin has also attracted the interest of investors and prospectors. At press time, one bitcoin was worth $726.36, although individuals are free to buy any percentage of a coin and can purchase as little as a dollar's worth of the digital currency.

Since January, Coinsource has launched a new bitcoin ATM every week, and the company is optimistic about the future of the virtual currency, according to Gough.

“We’re going to continue to launch more machines into as many cities in the nation as we can,” Gough said. “Bitcoin is in its infancy (but) I think over time the price will continue to rise, which draws in investors and speculators. It’s a great opportunity.”