When it comes to registering a domain, your biggest concern is probably avoiding accidentally embarrassing URLs or choosing between a .com or .org for your non-profit. However, have you given any thought to how you’ll actually pay for that domain? If you thought solar was the future of web hosting, you haven’t seen anything yet. It’s now possible to use Bitcoins to purchase domains—we’ve come a long way since this form of currency was introduced by “Satoshi Nakamoto” in 2009. The plus side of Bitcoin usage extends to purchasing domains, which is namely no banks or middle men.
Ultimately, this means zero transaction fees and it allows a level of anonymity never experienced before. Obviously, being able to make a purchase without using your real name is attractive to domain owners who are into shady or illegal activity, but it’s also appealing to a number of domain shoppers on the up and up. Purchasing “things” anonymously was the big reason Bitcoins picked up steam. However, they also make international transactions cheaper and easier (this currency isn’t tied to any particular country or regulations). No credit card fees and a possible investment?
It’s a wonder Bitcoins took so long to be used in domain registration.
Where Can I Get Them?
There are a number of “bitcoin exchanges” or marketplaces where you can pick up this currency. However, some experts believe Bitcoins will be very tough to find if you haven’t already started collecting them. For the lucky few who can find them or already have them, you might be wondering where and how to spend them. For Name Hero, one of the top domain name platforms out there, they’ve opened up shop to start accepting Bitcoin for cloud web hosting, domain registration, and even SSL certificates.
Supply and Demand
According to the founders of this all in one domain/web hosting company, the wholesaler saw that Bitcoin transactions were growing in demand. It just made sense to let consumers send payments from “wallets” like Coinbase to streamline transactions. According to the CEO, “High demand from our customers as well as our own personal needs made the decision a no-brainer for us. Bitcoin is the future of digital payments and we want to make sure our customers have the latest technology to ensure their businesses can continue to evolve with the market.”
In 2014, it was a record year for Bitcoin as their popularity continued to skyrocket. This was mostly due to merchants and shoppers alike simply being introduced to the currency for the first time. Luckily, prices of Bitcoins have begun to plateau, and those who have coins are beginning to regularly shift their online purchase strategies to lean more heavily on Bitcoin.
Should You Do It?
Using Bitcoin for any transaction is safe, effective, and you certainly won’t be charged more fees for using them—in fact, you could avoid extra fees altogether. Purchasing hosting or a domain is a great segue into using Bitcoin as currency, especially considering these purchases are usually rather small.
However, bear in mind that you can use Bitcoins for purchases in nearly industry, from buying a pizza to online auctions. Is 2015 the year you see what Bitcoins can do for you?