Since .com is the most common domain extension, it can add some credibility to your business. It shows that you’re invested in your business and adds some authenticity.
Step 3: Determine costs and review domain auctions
Domain names vary in price, ranging from a few dollars to tens of thousands of dollars. The price depends on where you buy the domain name, among other factors.
When considering the overall cost of a domain name, you need to factor in other fees, such as annual renewals and add-on fees. You should also be aware of automatic renewal or transfer-out fees. Be sure to read the domain registrar's terms of service so you fully understand the cost of your purchase.
Additionally, proxy bids are usually accepted. This means you can set a maximum amount for your bid, and the system will automatically raise your bid until the maximum limit is reached. If you win the domain auction, you will have a specific period of time to claim and pay for your new domain.
Domain names are often initially executive list purchased for longer than a year, depending on the provider. Review your business goals before deciding on a registration period. If you plan on changing your company name or products at some point, it may not be wise to lock yourself in for a decade.
Purchasing a long-term domain name means that the domain name is locked in. This means that your competitors have no chance of buying your domain name from you. Some registrars offer discounts for purchasing long-term domain names, such as two or five years at a time. You no longer have to renew every year, and you don't have to risk problems and losing your domain registration.
If your business is in flux, or you’re not sure what the future will look like, it makes sense to purchase a domain for a year or two and then reevaluate when the time is right.