If you’re an avid crypto user, getting your own blockchain domain makes a lot of sense. Sending and receiving crypto is now simpler and less error-prone with a human-readable address.
Still sharing BTC addresses like 1G1HqECxpbHz264yyraGJ9TFXDcP6cJT9d to receive crypto?
Well, if your name is Brad, you could just share the address brad.crypto to anyone, who will then be able to pay you any number of cryptocurrencies. All to one address. Just like sending an email.
One Domain to Rule Them All
If you perform crypto transactions regularly, you may have found copying and pasting public key addresses to be unwieldy and a hassle. Wouldn’t it be great if one could send crypto like sending an email?
Enter blockchain domain names by Unstoppable Domains.
By owning your own blockchain domain name, you can allow others (and yourself) to send you crypto easily.
But don’t just stop there. By owning a blockchain domain in the name of your business, it will also allow your customers to pay you in crypto easily.
Great Names Come To Those Who Start Early
Many people wished they had been early enough to get an email address like email@example.com. Most people came in later and ended up having addresses like firstname.lastname@example.org.
A lot of value is placed in having a short and simple name, whether for personal or business use. This is even more true for blockchain domains as it involves sending money and assets of monetary value, and a short, simple and memorable name is always ideal and preferred.
To that end, we urge crypto enthusiasts to register a name of choice at Unstoppable Domains as early as possible.
So How Does It Work?
Using our example above, Brad could add a number of wallet addresses to his brad.crypto blockchain domain.
At time of writing, the addresses of the following cryptocurrencies can be added to a domain name:
- Cardano (ADA)
- Aeternity (AE)
- Algorand (ALGO)
- Ark (ARK)
- Cosmos (ATOM)
- Basic Attention Token (BAT)
- Bitcoin Diamond (BCD)
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- Binance Coin (BNB)
- Bounty0x (BNTY)
- Bitcoin SV (BSV)
- Bitcoin Gold (BTG)
- BitTorrent (BTT)
- Burst (BURST)
- Crypto.com Coin (CRO)
- Dai (DAI)
- Dash (DASH)
- Decred (DCR)
- DigiByte (DGB)
- Dogecoin (DOGE)
- EOS (EOS)
- Equal (EQL)
- Ethereum (ETH)
- Ethereum Classic (ETC)
- Gas (GAS)
- Groestlcoin (GRS)
- Hive (HIVE)
- Huobi Token (HT)
- IOTA (MIOTA)
- Kin (KIN)
- Komodo (KMD)
- Chainlink (LINK)
- Lisk (LSK)
- Litecoin (LTC)
- Nano (NANO)
- Neblio (NEBL)
- Neo (NEO)
- Harmony (ONE)
- Ontology Gas (ONG)
- Ontology (ONT)
- Qtum (QTUM)
- Augur (REP)
- Ravencoin (RVN)
- Sierracoin (SIERRA)
- SmartCash (SMART)
- Stratis (STRAX)
- Switcheo (SWTH)
- TokenPay (TPAY)
- Tron (TRX)
- Trust Wallet Token (TWT)
- Ubiq (UBQ)
- USD Coin (USDC)
- VeChain (VET)
- v.systems (VSYS)
- VeThor Token (VTHO)
- Wanchain (WAN)
- Waves (WAVES)
- NEM (XEM)
- Stellar (XLM)
- Monero (XMR)
- XRP (XRP)
- Tezos (XTZ)
- Verge (XVG)
- Zilliqa (ZIL)
- Zcoin (XZC)
- Zcash (ZEC)
- 0x (ZRX)
By using the tools made available on the Unstoppable Domains website, Brad can add just one address for one cryptocurrency, or add the addresses for all the cryptocurrencies listed above.
When someone sends ALGO to brad.crypto, the payor’s wallet searches for the ALGO address registered to that domain name and appends Brad’s ALGO address automatically to the Send To field. If Brad had not added an ALGO address to his blockchain domain name, the payor’s wallet will not append an ALGO address. This prevents the coin from being accidentally sent into the metaverse and getting lost in transit.
Where Blockchain Domains Can Be Used
You may be surprised to discover that blockchain domains can already be used on a number of wallets and platforms that you are currently using. As shown in the following screenshots, blockchain domains can be used in popular wallets such as the Crypto.com App, Blockchain.com Wallet, and Trust Wallet.
Other Functions of a Domain Name
While we can imagine most people using domain names for the purpose of enabling human-readable crypto addresses, there are other benefits to owning a domain name.
Firstly, you could log into a private chat channel using your .crypto username as a login. This form of chat, provided by Unstoppable Domains, uses decentralised technology to provide end-to-end encryption between users in a chat.
Secondly, you could create a website on your .crypto domain as you would with a .com or .net domain. While a Domain Name Server (DNS) dotcom website and its IP address is coordinated in a central repository managed by ICANN, a Blockchain Domain Name like .crypto resides on a decentralised network on the Ethereum blockchain.
What this means is, a domain like brad.crypto is very secure and is hack- and censorship-resistant. A website built on a blockchain domain essentially sits on a blockchain network where it cannot be taken down or removed without the permission of the domain owner, which in this case, is Brad. Ownership and control is governed by the private key holder.
The .crypto domain is represented by an ERC-721 non-fungible token (NFT) on the ETH blockchain. If Brad wishes to sell brad.crypto to another person with the same name, he could simply send that token from his private key to the ETH public key of the other Brad, who will then take over ownership of that domain name. One can quickly see how such domains can be valuable, and how the idea of flipping domains in the internet world could be similarly done here. See screenshots for buy.crypto and business.crypto below.
In the internet world, the domain business.com was sold for $7.5 million in 1999, and resold for $350 million in 2007. Domain names are like virtual real estates. Flipping domain names can make serious cash for the owner if he’s early enough to get names in high demand.
While the days of getting premium names for dotcom for cheap is over, when it comes to blockchain domain names, we are still quite early in the game. Good names are still available for a relatively low price for the domain name speculator. Some premium names however, have been snapped up as given in the following two examples:
Pay Once, Own Forever
Unlike internet domain names which require yearly renewal fees, blockchain domain names are a “pay once, own forever” arrangement.
This offers a tremendous value to the domain name owner, whether he wishes to use it for registering his public key addresses for all his coins, or to run an uncensorable website on it.
Other Domain Extensions
Unstoppable Domains was established in 2018 and started by offering .crypto and .zil domain extensions to the public.
The .crypto extensions are offered at $40 onwards and reside as an NFT on the Ethereum blockchain, while the .zil extensions are offered at $20 onwards and reside an as NFT on the Zilliqa blockchain. Price varies and is according to tiers based on the number of characters, numbers and use of words from the English dictionary.
As at 17th June 2021, 8 new blockchain domain extensions have been launched and released for sale to the public. These are:
- .blockchain (available from July 2021)
Some points to note are:
- Domain names are priced based on their tiers, which is determined mainly by how many characters there are – generally the shorter it is, the more expensive it gets, and if words from the English dictionary are used – single or in combination.
- Some names are reserved as premium and are sold at much higher prices.
- Names of established brands are protected to prevent speculators from flipping. An ethical move, in our opinion.
- The .x extension is priced higher than the other extensions due to its brevity and exclusivity.
- The .888 extension, if you are not aware by now, is favoured by the Chinese as a hallmark of good fortune and prosperity. Plenty of room for speculation here as we know the Chinese will pay insane amounts of money for a good name symbolic of wealth and fortune.
If you haven’t acquired a blockchain domain name for yourself, now is the time to do so. Be early to secure the best available name for yourself.
Visit Unstoppable Domains today to register your blockchain domain. Register before 9.00 am PDT 22nd June 2021 to get 3x the amount spent in store credits for the purchase of other names and extensions.