Am I ready for sex??

I'm 16 years old and lately I've been extremelyyyyy horny. I feel like my mind is only occupied with all things sex. I literally masterbate everyday (which I feel bad about saying because I'm so young but the urge to is sooo strong) but yeah .. I'm a virgin and I get so wet and turned on easily. I even have dreams about having sex but only with this one boy. I've known him for 5 years and we've always liked each other but never actually dated (I've never been in a relationship) but we're best friends and I love him but idk if I'm in love with him ... I've never been in love. But anyways I always picture myself losing my virginity to him because he's so sweet and kind and cute and I trust him... and I actually love him and care about him so why not? I just wonder if I'm ready .. because masterbating feels good but ugh I can't stop wanting an actual penis inside of me. I've felt this way for a long while but I ignore it  to maintain my good girl reputation but I'm almost 17 and my body wants it. What do you guys think? Btw, me and the boy are obsessed with each other and have been since we were little and we tell each other everything, we're both virgins, and we both like each other and talk about dating when the time is right.