Question by kmac: How does buying and selling domain names exactly work?
Im looking for a little extra income and have always heard about buying and selling domains. Im not sure how exactly works the whole process. I tried to do some research online and it looks like godaddy.com offers this service. Would someone be able to explain to me the process or refer me to a link. Thanks
Answer by TBRMInsanity
The business works something like this. You buy up as many different website URLs that you can. The only thing you put on the site is a note telling people that the URL is for sale and where they contact you to buy the rights to the URL.
The business is a bit shady and very unforgiving at times. Some people have been known to buy out URLs when the companies contract comes up with their provider. They essentially are ransoming the company’s URL and can ask for any amount of money. This can get you sued though (there have been several cases in the US and some in Canada). If a URL that you bought contains a copywrite name the company can sue you if you try to ransom the URL from them.
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