Just as you can trade anything and everything under the sun, the digital age is bringing about new and innovative products that can also be bought and sold.
One such product is domain names. Domain names are being traded on the Internet and an interested person can cash on in this trade. If you are new to buying and selling domain names online, you will need to understand what they are, where do you buy and sell them, what issues are incurred and how much you can make. Here in this blog, I shall go through all these points so that you can have the ability tap into this opportunity and make some extra cash.
To begin our understanding we look at:
What Are Domain Names?
Domain names are the addresses of websites that you will type into a web browser. Domains are like owning a piece of land in the Web, you can consider it to a kind of a virtual property or real estate.
How to use Domain Names?
There are many way in which you can make money by using Domain. You can buy a domain name at low price and then sell it high price, just like in a normal trade. Domains that have some commercial value increase in value over time. You can capitalize on this value.
How It Works?
It works similarly to a normal trade or transaction. You can buy a domain name at a cheap price and then sell it at a higher price. You can even buy brand new domains from a domain registrar. You can buy a brand new domain for $10 to $15 per year. Some of the domains that are being sold already have traffic on them from past activities so if you buy these domains at reasonable prices, you have the potential to sell them at a higher price and making a profit.
How to Buy Domain Names?
You can buy domain names from a domain registrar. There are many sites such as Namecheap, Godaddy and Monikar that sell the domain names. You need to type in your chosen domain name in the search box and then you can purchase it if it is available.
If someone else has already registered a domain name that you like, then you can find the owner and buy it. There are some sites like Sedo, which acts as auctions and owners can list their domain names for sale. There are some rules regarding the purchase of domain names. You can not buy a name that has been trademarked by a company and you can not steal a company or person name and buy that domain.
How to Sell Your Domain Names?
The best way to sell your domain name is to list it on the auction sites such as Sedo, NamejetFlippa etc. You can also advertise on the domains landing page that you want to sell and interested buyer can contact you. When selling your domain name, set a fixed price that you want to sell at and invite bids from potential buyers and sell to the highest bidder or alternatively you can also make and offer to a potential client.
It is possible to make money buying and selling domain names. If you think your domain name can become popular in the future than it is a good idea to buy it and sell later. It is a better to start with a few domains. You should learn what kind of domains to buy and how much to invest. Once you have the knowledge, you can start trading in these and make some profit.