How to make a tons of money buying and selling domain in 2020
Another method of making money online is by buying and selling domain names. This method of making money online has been around for many years, and it's very profitable. More than 300 million domain name has been registered and the number keeps counting everyday, but a large amount of those domain names are available to be resold for profit.
What is a Domain name?
A domain name is a unique name used to identify and access a website. The domain name is used to access a website using the internet, instead of using an Ip address. An example is www.yourdomain.com.
Things to keep in mind while buying and selling domain
- Choose high quality keywords in you domain
- Buy domain of the latest trending keywords
- Manage your budget
- Reinvent your profit
- Know the worth of your domain names
Choose high quality keywords in you domain
When buying a domain, keep in mind that high quality keywords is demanding and will offer more profit. What i mean is keywords similar to "money," "bet," "tech," and more, offer more value.
Buy domain names with latest trending keywords
Let use the keyword "coronavirus" as an example, domain names with coronavirus are being sold for a high amount of money, because the keyword is very demanding. Because of the current coronavirus pandemic, people are willing to create blog post about it, so they might need a domain name to spread the information. Lets use the domain name coronavirus101.com as an example, it is currently priced at $28,000. The domain name might have been bought at a rate of $15 - $10 and if it being sold the owner of the domain will have more %1000 profit in return, which is really great.
Manage you budget
It depends on what you plan to invest in the business, let's say you plan on investing $1000 buying and selling domain. You might have to about %50 to %70 of your budget. Keeping some spare money is important, so you can quickly grab trending keywords and gets quick sales.
Reinvent your profit
Reinventing your profit is very important, if you have many domain names available for sales, you will be able to sell at least one domain per month. Reinventing your profit can bring more money and increases the amount of domain you can sell per month.
Know the value of your domains
Try not overprice your domain name and do not underate the pricing, overpricing your domain names will lead to no sales. Knowing the worth of your domain is very important, you can check the worth of your domain by checking the value online.
How to get started buying and selling domain names
Purchase your first domain name
In order for you to get started, you will need to purchase a domain name, there are different website that will allows you to purchase domain names, an example is Godaddy, Namecheap, Hostinger and more.
Place your domain name for sale
To sell your domain name, you will need to place your domain name for sale. Godaddy auction is a very popular method to sell domain names. It cost $4.99 per year and fees will apply for each sales you are able to get: A fee from %20 - %10 is charged.
This content is accurate and true to the best of the author’s knowledge and is not meant to substitute for formal and individualized advice from a qualified professional.
© 2020 David Komolafe