prevention Digital Bitcoin and

Bitcoin-themed crypto 'paradise' looks like a Bond villain's lair and costs £99k to move to

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website explains. The founders of the island insist it won't be a holiday resort but will have a permanent population of residents living in smart 'modular' homes.People will obtain residency by buying a non-fungible token (NFT) that will be held in a cryptocurrency wallet, just like a digital passport.

A private opening is due to take place this year, with the island opening its doors to its first residents in 2023.Satoshi Island is named after the creator of Bitcoin, the mysterious Satoshi Nakamoto whose real identity is still unclear.

First appearing in 2014, a non-fungible token is a bit of unique non-interchangeable data that represents something in the real world.They can be bought and sold using cryptocurrencies and are a good way to buy the original copy of digital artwork due to their unique 'identifying codes'.An NFT is built to prevent the endless replication of things online.Buying and selling NFTs is thought to be as safe as buying and selling in cryptocurrencies, however concerns remain amongst experts that due to the rapid growth of the market the interest in them may have reached its highest point.This means it might not be a great time to enter into the market, which grew 38,000% year-over-year according to DappRadar.Therefore it might be the smart bet to only enter into the NFT world because you genuinely want to own a particular asset, not because you want to get involved in the market..

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