5 things to watch out for when buying a domain
Purchasing an NFT domain name is an exciting step for getting set up on Web3. Before you begin, here are a few things you should consider.
1. Ownership vs. Rental
Like any purchase decision, price can often be a big factor. It’s easy to get lured into buying a domain at a very low price but don’t be fooled, not all domain purchases are alike. Some registrars (the companies that manage the reservation of Internet domain names) offer pricing at an extremely low cost, but require you to pay annual renewal fees for life, locking you into paying additional fees each year in order to maintain your domain.
Look out for:
- Ownership of your domain: Will you have ownership over your domain or will you be renting it for life?
- Annual renewal fees: Does your domain come with renewal fees? Do they increase over time? Does the registrar have any guarantees that prices won’t go up in the future? If you miss a payment what happens? These are important questions to ask so you know exactly what you’re getting yourself into.
- Gas fees: In the blockchain world, most transactions require you to pay gas fees. It’s important to check and understand whether your domain registrar plans to cover gas fees in the future or if it's a fee you should expect to cover moving forward. At Unstoppable Domains, we cover ALL of our your gas fees (on Polygon) so you can be… well, unstoppable!
2. Ease of Use
When purchasing a domain name, make sure to think carefully whether the name you pick (whether it be a letter, number or emoji) is easy to remember, read, and distinguish. If people are using your domain to send you money or to find your website, you’ll want to make sure it isn’t something they can mix up with another name.
For example: you may want to avoid using too many of the same letters in succession to avoid people mistakenly entering the wrong combination (iii.crypto looks very similar to iiii.crypto).
3. Customer Support
Some registrars don’t offer 24/7 support, or even real humans which can put you in a pickle if you need help. Some will even use their sales teams instead of providing a dedicated support team. When buying a domain, make sure to look up reviews about your registrar’s support team, or try connecting with their support team before purchasing. You want a registrar that provides courteous and professional services and assistance, not one that sees you as just a cash register they keep ringing up.
4. Native Browser Support
If you plan to use your domain to host a website or NFT gallery, you’ll want to make sure they’re compatible with as many native browsers as possible or offer browser extensions to ensure your domain can be seen.
A few key ones to check are whether they are compatible with Opera, Brave and whether they have extensions for Chrome or Firefox. Over time we expect more and more browsers will begin to provide support for NFT domains but in the meantime, it’s good to go with the ones which have the most support today.
5. Wallet Compatibility
What good is an NFT domain as a wallet username if it isn’t supported by the wallets you own? Be sure to check and see if the domain registrar you’re working with has support for the major wallets out there like Coinbase, Metamask, Trust Wallet, to name a few. Believe us...this will make your life a whole lot easier when you decide to replace your wallet addresses with your domain name.