Wednesday , August 17 2022

Selling domains for BTC, ETH and DOGE is here – is it time for a new Escrow service?

crypto-domain-escrow

Crypto Domain Escrow

I’m hearing more and more domain investors talk about selling domains for BTC and ETH, and this week I heard someone talking about locking in their first domain sale in DOGE. Selling domains for crypto can really streamline things given that ETH and DOGE are pretty much instant and BTC, well, you might be waiting a bit but eventually you’ll get your money.

The reality is, so many people are now flush with crypto and are willing to spend more in crypto than they would in fiat to get a deal done. This is part of the magic behind the $30M Voice.com sale and it’s allowing domain investors to sell names for more money, which in turn is raising the floor price on domains across-the-board.

Of course, if you’re selling a domain for crypto to someone that you don’t know, you’d probably want to use an Escrow service as we all do for high-value names…but Escrow.com isn’t offering crypto as an option and I’m guessing they aren’t adding this as an option anytime soon.

So I thought I’d make a little prediction, and I’ll start by saying I have no insider knowledge and no I’m definitely not going to get into the Escrow biz myself. I think someone is going to come out with an Escrow service focused on domain names that are bought and sold with crypto, and I’d bet we’ll see it hit the market sometime this year.

I know there are already some payment services that accept crypto but I don’t think they offer the same safety and security of an Escrow service, i.e. where the money (crypto in this case) is held until the domain is transferred and verified to be in the buyers account. At this point it’s clear that crypto is here to stay, and well domains, we all know not only are they here to stay but the prices on extensions from .COM to .XYZ are going nowhere but up, and a market opportunity now exists.

Like I said, I don’t have any insider information here, just a prediction, let’s see what happens. I do think if someone does this it will add a lot more liquidity to the domain name world and make it easier for crypto and domain peeps to do business together.

What do you think? Comment and let your voice be heard!

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