If you’re looking to buy a crypto domain but are unsure how we’ve got you covered. Maybe you’re live in the process of buying a domain or simply just want to learn– whatever the case, by the end of this article, you will know how to buy and own a crypto domain.
In this decentralized domain guide, we’ll cover the basics of crypto domains and the step-by-step process of buying one– we’ll be the mother goose guiding our ducklings to safety.
For this guide, we’re using the crypto domain registrar Unstoppable Domains as our follow-along example– it’s one of the most popular and trusted providers. However, other registrars include Ethereum Name Service (ENS), Emercoin, and Peername, all of which offer Web 3.0 alternatives to blockchains domains, such as .crypto, .eth, .btc, and more.
So, take a seat– we’ll go from step one to done in under 8 minutes.
Before we get started on buying a crypto domain, let’s go over the basics.
What Is A Crypto Domain?
Before buying a crypto domain, it’s important to understand how they differ from traditional domains.
A traditional domain is rented from a domain registrar such as Google Domains or GoDaddy. It needs to be renewed each year and is owned by the registrar. Yes, rented– you don’t actually “own” a web-2 domain.
Crypto domains are represented by Non-Fungible Tokens (NFTs) and can be purchased to own. They have no central point of failure and allow users to post without censorship.
As of June 2022, over 2 million crypto domains have been registered with Unstoppable Domains, with popular options including .crypto, .nft, .x, and .eth.
Many crypto domains can be used as cryptocurrency public addresses, which means they can be used to accept and receive cryptocurrency, tokens, and even NFTs. If you want to better understand crypto domains, you can find a more detailed description using our crypto domains guide.
Now, it’s time to buy your crypto domain. For this guide, you’ll need access to Unstoppable Domains and a MetaMask Wallet. If you haven’t set up a wallet, you can use our Metamask guide.
Very important: Since a crypto domain is just like any other token, it can also be hacked. Be sure to take adequate steps to prevent your private key from finding itself in the hands of malicious third parties. Ledger, a hardware wallet, offers NFT hosting and should be compatible with crypto domains.
How to Buy A Crypto Domain On Unstoppable Domains
Let’s get started.
- Start by heading over to Unstoppable Domains and sign up for an account. You can sign up using your email, Google account, or by connecting your wallet.
2. After signing into your account, search for the domain you want to buy. You’ll be taken to several crypto domain options including:
- .x
- .crypto
- .nft
- .coin
- .wallet
- .dao
You can choose what domain you want based on the purpose of your site. In general, .crypto domains are the most popular.
3. Add the domain to your cart and click “Continue to Cart.” Review your order to make sure you have the correct domain. Click “Checkout” and enter your payment details. At this stage, you’ll be asked to create an account if you don’t already have one. Remember, this is a single purchase.
There are several options for you to pay with. If you choose to pay through crypto.com, you can get 10% off your order. To do this, click Crypto.com Pay at the bottom. A QR code will appear; scan it with your crypto.com app and make the payment.
4. You now own a crypto domain. However, you need to claim it. This is where your MetaMask wallet comes into play. As of May 2022, compatible wallets include:
- Coinbase Wallet
- MetaMask
- MyEtherWallet
- Trust
- Argent
Any of these can be used for claiming your domain.
How To Claim Your Crypto Domain: 10 Easy Steps
- Return to the Unstoppable Domains dashboard and click “Domains.” Head to “My Domains.”
- To claim your domain, you’ll need cryptocurrency. The most popular option is ETH. Make sure you have ETH in your MetaMask wallet and click “Claim with ETH.”
- Click for the code to be sent via email.
- Wait for the email in your inbox. If it doesn’t arrive within 5 minutes, check your spam folder. Once it’s arrived, copy the code and paste it back to Unstoppable Domains.
- Next, you need to choose the wallet for claiming. Select “Web 3 Wallet”.
- Connect to your MetaMask wallet using the pop-up button.
- Follow the instructions on the screen. It’s essential to ensure you have the correct wallet address as this action is irreversible.
- Sign the transaction in MetaMask. This can be done through your extension.
- Now it’s a waiting game. The claiming process can take anywhere from a few minutes to an hour. In your wallet, you’ll see a pending claim.
- When the claim is finished, a manage domains button will appear on your dashboard. Congratulations, you’ll now be the owner of a crypto domain!
Final Thoughts: You Now Own A Crypto Domain. What Should You Do With It?
Now you own a crypto domain, you can do with it as you wish. The most common use case is for a business or personal website, although your domain can also be used to accept cryptocurrency if you want to make crypto transactions.
Alternatively, many investors are looking at crypto domains as long-term investments, hoping to buy a domain and sell it later at a higher price. As the popularity of crypto domains continues to increase, so will the value of domains themselves.
As of June 2022, crypto domains can cost anywhere between $10 and $50, depending on the domain you’re buying. So if you’re interested in buying a domain, you might not want to wait too long. We can’t promise the price of a domain today will be the same in a year.
The post How To Buy A Crypto Domain: 4 Easy Steps to Buy, 10 Steps to Claim! appeared first on CoinCentral.
