You can now buy .crypto domain names from MyEtherWallet

MyEtherWallet

Yesterday popular Ethereum Wallet MyEtherWallet announced that it’s users can now purchase .crypto domain names directly from them. Just to avoid some initial confusion, MyEtherWallet doesn’t own the domain extension itself, Unstoppable Domains is the owner of the extension, but until yesterday they were the only game in town when it came to buying .crypto names.

MyEtherWallet is officially the first company besides Unstoppable Domains to offer .crypto domains for sale and it makes sense, these are special purpose domain names which does make them pretty different from any domain you’re familiar with to-date.

So what are the differences between a .crypto and a .com? Well for starters, you can only view .crypto sites on specific browsers using specific plugins. Right now it looks like the Opera Browser is first mainstream web browser to add support for .crypto and that support just started in March.

The idea behind .crypto is to use them instead of long hard to remember addresses that you deal with when you’re sending and receiving crypto. Here’s a deeper dive on how .crypto works:

Regular .com domains are sanctioned by the UN body, ICANN, which it then provides to private registries, like Verisign, who in turn sell them to resellers like GoDaddy. But, explains Brad Kam, co-founder of Unstoppable Domains, any of these centralized institutions can take your .com domain away from you. 

But if you have a blockchain domain, “you store it yourself inside of your wallet,” Kam told Decrypt. “Whoever controls the private key is the only person that can move it around; this is the foundation for user control and censorship resistance.” 

Ethereum web addresses are really just strings of text registered on the blockchain. Unstoppable Domains turns them into readable addresses and sells them for a profit. Now, it’s selling them to MyEtherWallet.

(Source – Decrypt.co)

I’m personally not planning on making any big purchases in the .crypto space but I do often find myself buying a handful of domains in interesting extensions like this. Seeing it get a bit more exposure and more of a use-case carved out does mean I’ll probably spent a few minutes this weekend poking around and maybe buying a few.

That being said, I don’t think I’ll be buying more than a few since my guess is they will not sell and I’ll either just let them expire next year or hang onto them and look back at this as money wasted a few years down the road when I remember, oh hey, I still have those .crypto domains!

{ 4 comments… add one }

  • David April 24, 2020, 1:30 pm

    Thanks a bunch for sharing. Appreciate it!

    Reply
  • George In Miami April 25, 2020, 10:25 am

    What’s the worst that could happen? Losing couple hundred dollars. There’s risk in any type of investment and there’s no difference in this particular one.

    Reply
  • Bul April 25, 2020, 11:35 am

    Just so you know, .crypto domains don’t expire. You register them once and their yours for EVER. What they are doing at unstoppable is a good step at making the decentrized web happen. You will find gems however, they are priced at the same price you might hope to sell them for someday so it goes without saying that unstoppable is doing exactly what the gtld (even worse) owners did. But again, I got a few and ignored many potentials inline with learned lessons to never pay premium price for any unproven extension ever again

    Reply
    • Bul April 25, 2020, 12:17 pm

      Morgan, to be fair to your visitors and to unstoppable. I should expand on why I think the decentrized web or .crypto domains are a good idea. NFT or NFTs is the reason. Non-Fungible Tokens; the idea powered by the blockchain is allowing us to truely finally own our own stuff online. The websites we host and the data we keep on them truely becames ours as there is no central authority and silos in the ownership chain.

      When a domain name is registered, we rent the right to use it for the period of registration. But in the case of .crypto or any such blockchain powered tech, we store these things in our wallets and keep their keys making them own property; explaining why you don’t need to pay renewal fees for .crypto. We see this now happening with IPFS and perhaps years from now, we won’t have to pay godaddy or AWS to host our data online as IPFS becames norm. Were seeing this with art, with game relics and rare collectibles. I even hear of projects that will make money transfers globally free. I see new economies and tech ecosystems being made as I type this. The future is buggy but brave.

      Reply

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