Buying a private island with crypto is something that many crypto investors dream of. Being able to enjoy your investments on your very own land, surrounded by water, is priceless. Whether you choose to buy a fully developed private island in tropical climates or an undeveloped modest island in colder climates, it is simply a wholly unique feeling.
Buying a private island with crypto is simple if you use XEROF to do so. The crypto gateway acts as a middleman who helps you use your cryptocurrencies, such as Bitcoin, Ethereum, and Tether, to make purchases that typically require the use of FIAT currencies.
Keep reading to find out how much a private island costs, where to actually buy one, and if you can name your very own private island.
How much does it cost to buy a private island?
When you start thinking about buying your own private island, the very first question that arises is “how much does an island cost”? The answer differs wildly depending on a few different factors, such as:
- Size – How big is the private island?
- Location – Where is the private island located?
- Amenities – What is on the island?
For example, a private island that has running water and electricity and is located in a warmer climate is bound to cost more than a small island located in a lake with no amenities installed. This does not necessarily mean that one is better than the other, however.
Purchasing an undeveloped private island gives you the opportunity to develop it how you see fit and build all the infrastructure and buildings according to your plans. Thus, it enables you to create something that you yourself have visualized.
Meanwhile, purchasing a developed island means that you can go and stay on the island whenever you see fit. Even though it may come with a bigger price tag, you won't have to develop it yourself, and you’ll be able to enjoy it right away.
Where can I buy a private island?
You can buy private islands in several ways. Certain real estate agents specialize in sales of private islands, for example. However, the most common method is to use websites online, as this offers great convenience for browsing private islands.
Some of the more popular platforms for browsing and purchasing private islands include:
These platforms offer private islands around the globe for you to browse and purchase. The private islands listed vary in price, size, and amenities. Whether your budget is 10 BTC or 300 BTC, you are sure to be able to find something that suits your needs on one of the platforms above.
What is the cheapest private island you can buy?
While it is hard to say for certain what the cheapest private island you can buy is, what can be said is that private islands don’t have to be some lofty dream purchase you can never make. In fact, there are plenty of private islands out there that cost less than the average home, although the luxury factor may be slightly impacted.
If you want a private island in the Caribbean, you can expect to pay a handsome price for it. But countries like Canada have an abundance of private islands that are listed continuously with amazing views. However, as you may be aware, Canada is not exactly well known for its warm climate.
For less than $100.000 you can get a private island that is several acres big if you choose to buy in a colder climate such as Canada, the US, or Northern Europe. If you are expecting a tropical climate and amenities on your private island, the price tag can grow quite a bit.
Can you name your private island?
Yes, it is entirely possible to change the name of your private island. Most islands will come with a name already attached to them, but this can be changed quite simply. However, it is worth noting that if your island is big enough or well-known enough to be a local landmark, it may be difficult to get people to refer to the island by its new name.
To change the name of your private island, you simply apply to the appropriate authorities in the country to which your island belongs and usually pay a small fee to have the name changed.
While there are no international laws for what your island can or cannot be named, there are a few things to keep in mind, such as:
- Don’t name your island something inappropriate or offensive
- If an island with the same name exists in the area, you are likely to be declined
- Use the local language when naming your island
- Try to limit the name to three words or fewer
Can you turn a private island into your own country?
While in theory, you might think it entirely possible to turn a private island into your very own country, the fact is that, no, it is near impossible. This is mainly due to all islands already belonging to a country or territory before being sold.
Even if you were able to buy a nation-less private island, to form your own country you would need to be recognized by other countries. You would also need a government, an economy, residents, and laws. To officially become your own country, you would need to be recognized by the United Nations. In other words, you are not likely to be successful in your mission to start your very own country.
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