Buying domain names and selling them for a profit is a good way to earn income online. Domain or website names simply refer to the addresses of websites on the internet. www.naijaecash.com is the Domain or website address for this site you are viewing.
The business of buying and selling domain requires a very small start-up capital. You can start with as low as $10. That means any Nigerian Entreprenuer doing business online can easily add Domain Names Trading to his/her online business portfolio. GoDaddy.com is currently offering domain names at a ridiculous price of $1.99!
See below some domain names that were purchased at less than $10 but sold for tens of thousand dollars.
- Offer.com $180,000
- Porn.mobi $110,000
- AutoClassifieds.com $110,000
- PinUp.com $35,000
- Penitence.com $30,000
- Faithful.com $29,500
- You can get more of this by visiting DNJournal
Do not make 5 or 6 digit price per name your goal, such cases are quite rare. You can still earn good income with names at 3 digit prices (selling a name purchased at $10 for $500 is good enough, even that does not come easy).
Some pitfalls to avoid when trading in Domain Names
- Do not start your domain name business by purchasing from the secondary market (of course there will be exceptions to the rule sometimes). Avoid offers that are above the prevailing market rate. Currently it is below $10.
- Do not attempt to trade on names that have copyright or patent/trademark attached to them. Such attempt is called cybersquarting. Cybersquarting simply put is …“registering, trafficking in, or using a domain name with bad faith intent to profit from the goodwill of a trademark belonging to someone else. The cybersquatter then offers to sell the domain to the person or company who owns a trademark contained within the name at an inflated price – Wikipedia”.
- Avoid trading on high profile celebrity names. Such names can be taken away from you without a dime paid in return through lawsuits.
Tips on choosing profitable domain names
- Choose names that consist of general words such as home.com, computer.com, can fetch good income because so many online entrepreneurs will love to buy them. Such names attracts good prices.
- Choose short names that are abbreviation of longer words e.g. cbn.com is better than ChristianBookshopNigeria.com . (this is mostly targeted at corporate entities) They are usually priced higher than longer words.
- Choose domain names that are catchy and memorable, that is, visitors to such sites will easily remembered them (who will forget faithful dot com?). Consider your buyers and aim for names with widest appeal, that is what enhance profit in domain name business.
- As much as possible, go for domain names ending with .com They are more popular and as such more profitable.
- Make it a habit to visit websites that are selling domain names. The list of possible domain names is inexhaustible. A good place to start from is www.sedo.com Registeration is free.
- If you coin a domain name that you think is catchy and memorable, register it immediately. If you fail, another person might register it before you.
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Tags: Investing, Nigerian, Online Income, Tips & Tricks
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Hello Naijaecash!!!!
I just happened to stumble upon your site while doing my normal NORMADIC travels across different sites lol!
I love what you are doing and to me, you are simply a breath of fresh air!!! (i mean it).
I do have a weblog which i started not too long ago, and you will see it as a site where i ramble about whatever comes to mind!!
I have been very interested in INTERNET MARKETING and how it works, i’ve NORMADED across different sites trying to learn what it’s all about and it’s been a frustrating journey for me.
I will admit that you are the first to state in clear and simple english what domain trading is; so much so that i’ve gone to go daddy to try out some words which as you’d expect, are all sold out!!!!!
Pls, i’d like to get to know you more as i feel i can learn so much from you and hopefully you from me.
my e-mail should be visible to you, and may God continue to open more doors for you.
The heavens is your limit!!!
Cheers!
Aishas last blog post..COMPULSIVE FONE SYNDROME (CFS)
I’ve got lots of tools at http://www.domainnamesoup.com to find available domain names. It includes a dictionary word list. You’d be amazed at how many combinations of everything have already been taken.
Any ideas on what to go for now
Guy ure nice. Very few people give all these info for free. God bless you. Please can u send to my email a detailed guide about domain hosting as i am a novice but a good and fast learner. Thank you very much.
i want to get started with affilate marketing and other business i could do nnline but it has been fraustrating please show me the way out.
hello pls i really need 2 no more about this domain business cos it sounds very profitable 2 me
The article is about making money online by trading domain names. If you need more information, you will need to specify the area you need more information. The article was meant to be a little introduction to the subject of domain trading as an online business. Maybe you should post your request in the forum. Cheers.
This is a good start on domain trading. More info can be sourced from the net, warrior’s forum, and naija marketers. I’m waiting to get my acts right b4 launching out fully. lol
Please, I stumble on this article while on the net. Please i want to find out where can someone sell his domain if he register domain names with a hosting partner that does not sell domain. I reside in Nigeria.
I was looking for a free domain name for my business. I googled and found some websites, but they offer like subdomain names. Then I searched for “register a domain” in google and found bbchost.com on the third position.
I searched their pricing details but it was amazing to see that they provided me a new domain name for $1.99. But I am sad that they did not give me the hosting. Curently I am looking for a free hosting.
What and amazing website it’s not often I read something and feel I have learned something i didn’t know before. You’ve got a real talent for writing keep up the good work.
my friend i can’t believe the simplicity of your write-up on: introduction to domain. You are the best! Pls. i am interested in ‘Online Affiliate marketing’ Can U shed light on this topic? thanks.
http://www.sedo.com is not a good ideal place to register for domain business for nigerians. they will just delete your account. are you sure you are really making money from domain names?
If I buy a domain name how do I pay for it and when am selling it how do I get my money back
You can use your Naira denominated Mastercard Debit Card