7 Nuggets of Wisdom for First-Time Domain Buyers

Starting a new chapter in your life? Whether it's a new business venture, an exciting investment opportunity or you would just like your own piece of online landscape, bagging the perfect domain name is a must.

In today's digital age, cyber-space real estate is big business. The demand is-high, and the fact that every business needs an online presence to thrive makes them a valuable asset.

Now, if you're a first-time buyer, it is important to gain a good understanding of the domain industry in order to identify the right one for you. It's not just about picking a cool name; it's about securing a gem in a fiercely competitive market and shielding yourself from the pitfalls of fraud. In this article, we share seven insider tips to empower first-time domain buyers to guide them through the interesting world of domain names.

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Seven facts every first-time domain name buyer should know:

Abundance of domain names

As of August 2022, there are a staggering 1.97 billion live websites globally, a stark contrast to the mere 10 websites in 1992. The Internet has witnessed exponential growth, surpassing even the increase in the world's population.

Domain can sell for eye-watering costs

Since the 1990s, domain names have been known to fetch millions. For example, cars.com sold for a remarkable $872 million in 2022. This underlines how simple domain names come at the highest premium. Understanding the value of brandable domain names is essential for those interested in buying and selling domains and using a reputable broker is advisable.

Not only the one root to acquiring your dream domain

Heard of a domain name life cycle? If not, it’s time to swot up. The domain name lifecycle highlights certain points within a domain’s “life” where you can place a backorder. A what? A backorder allows you to reserve a domain that is still in-use and allows you to gain a competitive advantage in securing high-quality domain names.

• If renewal is neglected, a 30-day grace period begins, during which renewal is possible at a higher cost.
• Following the grace period, a 5-day "Pending Delete" phase occurs, whereby the domain is unavailable for purchase, both by the former owner or new buyers.
• After the "Pending Delete" stage, the domain is released for sale.

Psst..! At abion we always make sure your domains renewed automatically, making sure you’ll never miss a deadline.

Short equals big bucks

Short and sweet is the right way to go. Shorter domains are not only easier to type, remember and communicate, but they also bring the highest price tag. Examples include x.com (Elon Musk) and w.org (WordPress).

Why limit yourself to just one?

Owning more than one domain can benefit your online presence. Consider registering variations to account for common typos, such as officeorganization.com, officeorganisation.com, office-organisation.com, and so on; or different extensions that align with your business, such as .store or .tech.

Protecting your identity

The Internet Corporation for Assigned Names and Numbers (ICANN), the international body that governs domain names, requires certain personal information of a domain name owner to be publicly visible in a database called WHOIS. However, the WHOIS privacy service can shield your personal information from public visibility, safeguarding against identity theft and fraud. This service replaces your details with an anonymous proxy identity.

There is life beyond .COM

Beyond the “traditional” .com domains, there are over 1,500 new domain extensions globally. As a first-time buyer, explore your options. From .City, .Beauty or .Tech, there are many variations available that may better suit your company or serve as a strategic investment.

From strategy to registration

We take care of the whole process - from strategy, to registration and consultation. You'll get access to our customer platform Abion Core, which gives you  an overview of the entire portfolio.

• ICANN accredited registrar, we can register a domain wherever you want in the world
• Everything gathered in a single portfolio for easier management and accurate registrations
• Secure and proactive management with the latest solutions in the industry