What is a domain name? What do you need to know about buying and selling domain names?

Domain name investment is a form of e-commerce terminal investment driven by the growing trend of information technology. Domain name investors possess extensive and comprehensive knowledge and skills. Domain name investment spans the globe, encompassing diverse countries, markets, industries, and target groups. This is a discipline-based investment model, a targeted business operation. Successful investors in this industry are not only IT experts but also knowledgeable in a wide range of fields, including business, industry, and journalism.

1. What is a domain name?

What is a domain name? This is both a simple and complex question. Many domain name investors think of domain names as URLs, IP addresses, and then brands and online trademarks. In reality, a domain name is a resource—a non-renewable, unique resource. Of course, you could also argue that there are many different domain name extensions, but that's not entirely correct. As a domain name investor, remember this: no two leaves in this world are alike. Every domain name is unique, and its value is determined by its uniqueness.

Now that you know what a domain name is, what's next? Just randomly register a bunch of domains and wait for others to buy them? There's no such thing as a free lunch. Your first priority should be learning, learning, and learning again. This is a lengthy process that will last from your first day in the industry until the end of your career. Of course, you can always leave. If you want to gain something from domain name trading, you must constantly learn.

2. A Passion for the Entire Internet Ecosystem

A true domainer must have a passion for the internet and electronics. A true domainer can go three days without food, but not a single day without going online. A domainer's online life isn't about playing games, watching TV shows, or reading novels, but about absorbing all kinds of information. They know what's happening in the world today, and they can also predict which products will change the future tomorrow. A true domainer is a walking dictionary, essential for staying informed about: new novels, TV shows, tech products, internet buzzwords, national policies, the latest technology, financial news, and trendy brands. They should also be aware of local hot topics; being a local is an advantage.

3. Domain Name Trading and Quotation

Domain name trading is absolutely a technical skill. Why? Because the same domain name can fetch vastly different prices from different owners. While everyone's connections are unique, many others' sales methods undoubtedly have their own unique strengths. Selling domain names, like buying them, requires a wealth of skills. Selling domain names requires speed, while buying domain names requires slowness. Why? Domain name transactions often happen in a split second. If you're too hung up on a small price difference or become obsessed with the price of a domain name, you'll likely fail. Beyond that point, the buyer may lose interest. Remember, don't test people's patience; after all, people are like eels. So why should you be slow when buying domain names? Because if you're too impatient when buying a domain name, the seller may notice something: they might immediately see through you as a scammer or realize the domain has significant commercial value. When buying a domain name, even if you're very optimistic about it, you should remain calm and avoid impulsive behavior that could lead to higher costs.

IV. Keeping Track of Daily Domain Name Activity

You may not have a meter, but as a domain name investor, you should at least have an Excel spreadsheet. Record every investment, the cost of each domain name, expiration date, inquiries, transaction history, transaction experience, and profit percentage. Additionally, it's recommended to always carry a notepad with you. When inspiration strikes, jot it down. If you see valuable information about a brand or something you're looking for, you can also write it down. A good memory is worth a poor pen. The real work is beyond poetry.

5. Participate in more domain name industry exchange meetings.

As a domain name farmer, have you ever participated in an in-person exchange event? Believe me, you'll gain more from face-to-face communication. Every exchange is a collision of ideas. Every domain name farmer has their own insights worth learning from. Another point of note: when communicating with domain name farmers online, always use polite language. Just because someone has a different opinion doesn't mean they're wrong. Never disparage someone else's domain name extension. You might not use their extension, but that doesn't mean it's less valuable than yours. Things change over time. It's not necessarily the case that they'll be worse off than you in the future. Perhaps they'll even earn more than you.