Domain Investors
Domain
Investor/Developers
Michael
Castello
Domain Investor/Developer, CEO, Castello
Cities Internet Network
In
addition to being a pioneering and highly successful
domain investor (with sales including Whisky.com at $3.1
million), Michael Castello is also a
legendary figure in the geodomain space with multiple
developed city domain website businesses including
PalmSprings.com and Nashville.com. He also holds many
generic one-word domains and developed websites,
including DayCare.com. Michael and his brother David
were profiled in our December 2006 Cover
Story (that still draws a steady flow of traffic
today).
Michael
Casetllo
Investor/Developer & CEO, CCIN.com |
2017
- the 3-year mark for new gTLDS
At
the DomainFest Sky Bar meet-up in Hollywood in 2014, I
spoke with Paul Stahura (Donuts co-founder) about
the new gTLDs. I know he was a bit reserved on how
I viewed them. We had a good hour conversation. At that
time, I told him that he would need 3 years and $100
million, as Donut's uphill battle was going to be
attritional. We passed that milestone last year and I'm
sure it cost Donuts at least that much in
investment.
I
think we now have much more clarity on the new gTLDs and
their relationship to .com. In many respects I have spoken
positively about the new gTLDs in the past while
understanding the immense hurdles that they would have had
to overcome to succeed with the moniker; NOT COM. It was
not so much that the gTLDs failed to live up to their
expectations, in my opinion, it was simply a
bait-and-switch by Google. They touted that they would go
in deep on the new strings. When a company with that much
leverage and money purports its strategy, many others
follow as a hedge of protection. Google moves markets and
in doing so, is highly political. While Google applied for
101 of the new gTLDs, they only touched one; dot blog.
That is what is called a fail-safe.
|
Outside
of antitrust law, I believe domain names are Alphabet's
greatest threat. I push back against the 5 big tech
companies a lot these days and for good reason. There
needs to be an internet agreement of understanding or type
of bill of rights that protect netizens from the
monopolies that are controlling our virtual freedoms on
the web. When I was growing up, my mother told me,
"Don't tell people your complaints, tell them your
solutions". The solution is simple: Two simple facets
of the internet that must be unfettered and have complete
control by all of us - the URL and Domain Names. Currently
they are being abused and manipulated in ways that are not
beneficial for their survival.
Looking
ahead to 2018...
Cryptocurrency
I like the idea of Cryptocurrency, I think you can make a
quick buck now. While it sits perfectly with the global
internet, I don't see it ruling the world in the
near-future for several reasons. Most notably; Country
states have control over their currencies and that that is
where they have their greatest leverage. The American
dollar is a global currency, and while it is just made of
paper, it is how the world views it that gives it great
value. Cryptocurrency can also be used for nefarious
business and laundering money. Governments and their
agencies go to great lengths to protect their monetary
systems and likewise to undermine others. Cryptocurrency
is a large target that will always, in my opinion, be
under attack. These days you can make a lot of money on it
if you are a gambler.
Open DNS and Blockchain
I see the fracturing of many aspects of the internet as
society becomes more segregated. That is why blockchain
and open source will be so appealing. Societal tendencies
will be considered more "stand alone" in the
future. Outside sources of control will less dictate how
we survive in the virtual world. Like-minds think alike
and we will interact more so in this manner in the future.
Domain Names
Domain names sales will grow in 2018 mainly because there
is less doubt now within the DNS and TLD hierarchy. I have
a new 7 figure sale this year with another closing in.
While I do not have an NDA on the sale, I am leaving it up
to the buyer to find the right time to story it. We are
receiving a lot of generic .com interest that I have not
seen in over eight years. Good luck Domainers. There are
better times ahead.
|
Morgan Linton
Domain Investor/Developer, MorganLinton.com
& BoldMetrics.com
In
addition being an active domain investor/developer, Morgan
Linton writes about the industry (and other topics
that catch his interest, like cryptocurrencies) on his
popular blog at MorganLinton.com. However, most of
Morgan's time these days is spent on full-blown business development
of an innovative fashion industry company he and his wife Daina
founded (with investors including none other than Mark
Cuban) at BoldMetrics.com.
Morgan
Linton
Co-Founder & CRO, BoldMetrics.com |
While
I think crypto is a general trend that sent
ripples through the domain industry (no pun
intended) this past year, I don't think it had
much of an impact on the individual investor. Yes,
some investors (myself included) did sell
crypto-related domains that they might not have in
years past, but the fundamentals have stayed the
same and even strengthened in many ways. I think
2016 was all about understanding the impact that
new gTLDs would have on .COMs, in 2017 it became
clear that .COM was stronger than ever and one and
two-word .COMs are still the best investment for
individual investors, and any investor IMO but I'm
just speaking as an individual here.
One trend that I think has continued to grow and
really spread its wings in 2017 is a shift away
from traditional parking pages with a "Make
Offer" banner at the top to full format
landing pages. Companies like Uniregistry and Efty
seem to be setting the standard here and making it
much easier for domain investors to focus on
attracting as many offers as possible on their
domains.
Of course tied to this trend is the continued
disintegration of the parking space. I know it
|
can
be a little controversial to say this since yes,
there are still people that make good money
parking. That being said, when I started buying
and selling domains in 2007 parking and buying
domains with parking revenue was a hot topic,
that's just not the case any more and the
consolidation of parking companies really
illustrates this. As an individual investor I just
see a gradual change that is continuing which is a
focus on domains that have real value to an
end-user vs. domains that will make money parked.
I know this isn't an amazing revelation and some
people will read this and say, duh Morgan we
already knew this but I think it's important to
mention since it is a trend that has continued to
decline over the years.
Looking
ahead to 2018...
Now
let's talk crypto. It's the elephant in the
room and has divided the industry as we now have
two factions, Domainers who have also invested in
crypto and are bullish on where things are going,
and the other side that thinks it's all a bunch of
smoke and mirrors. The reality is that anyone can
call themselves a "crypto expert" but
nobody actually is, the market is too new, too
volatile, and too random to predict. What I can
say is that it's very likely (probably safe to say
it's a fact) that crypto took money away from
domains in 2017 and I think investors will
continue to split their investments and add crypto
as another investment vehicle.
Here's the thing, I don't think this is going to
be bad for domain investors, in fact I think it
could be good, less competition means more domains
with less bids on the popular auction sites we all
know and love. At the same time it does likely
mean that if you're a domain investor that sells
to other domain investors, the available dollars
looking for investment opportunities has been
reduced and will continue to be reduced. It's
pretty realistic to say that more people are
getting into crypto and putting their money into
crypto than they are in domain names and I only
see that accelerating in 2018.
The
flipside is that crypto domains were always a very
niche category without a ton of sales activity.
Now crypto domains are more valuable than ever and
I think we will continue to see more startups and
large companies buying crypto domains in 2018
which will put money into the pockets of crypto
domain investors. Already this year we've seen
domains like CryptoWorld.com sell for $194,888 -
it is very unlikely this would have sold for
anything close to this a year ago. As an
individual domain investor I'm always looking for
new opportunities and I think crypto domains are
going to have a nice run for years to come.
The
reality is, whether you love or hate crypto, it's
not going away, it's growing regardless of the
price of cryptos themselves and more companies,
services, and technologies are jumping into the
space. This means domains with keywords like coin,
blockchain, crypto, etc. are going to get
increasingly valuable and offer higher returns for
domain investors. So whether you're buying cryptos
yourself and bullish on the market, or if you
think it's all just a giant ponzi scheme, you
can't ignore the fact that crypto domains are
going up and will very likely continue to do so
well beyond 2018.
George Verdugo
Founder, CasasBaratas.com
George
Verdugo has one of the great rags to riches
stories in our industry - one that we told in our
December 2017 Cover
Story. George has been a serial
entrepreneur, literally, since he was a kid! He
went through some hard times but today he owns and
administers a wide variety domains and developed
Internet businesses from his home base in Kansas
City, including his first big web business hit, CasasBaratas.com
("cheap houses" in Spanish) as well
as several enterprises build on new gTLDs like Hotels.club.
George
Verdugo
Founder, CasaBaratas.com, Hotels.club
and many others. |
I
feel that the most significant event of 2017
has been bitcoin and blockchain. It's
interesting that a lot of domineers and
brokers shifted to crypto currencies and
as visionaries saw the new opportunities
to invest. I go to all the conferences in
our industry (USA) and the big thing with
all the domain investors was cryptos.
Looking
ahead to 2018...
2018
will be a great year for Hotels.club.
Hands down, Hotels.club continues to
be the lowest cost solution in the market
for families and business people who
travel more than 2 or 3 times per year. I
had a good friend reach out recently who
told me their company saved $2,700 last
year by using this service. The real
challenge is just getting that message
out.
In
2018 you will see a new website for
Hotels.club and we will also will be
launching Flights.club
and RentalCars.club
before years end.
Home
prices are booming nationwide and that
trend should continue in 2018. KCHomes.com
and CasasBaratas.com should
benefit from this market. As an
investor in Kansas City, we are
seeing sweeping changes in the real estate
|
market.
I am definitely going to experiment with
Facebook ads in Kansas City for KCHomes.com.
It seems like Facebook as an ad network
has some potential for domain investors
looking to run a real business. It’s a
great advertising network for targeting
niche concepts.
As
a Domain Investor, I see the domain
industry as a whole doing exceptionally
well in 2018. We continue to see strong
end user demand for brandable domains.
Crypto currencies are the new opportunity
similar to the early domain
investors in 1994, 1995, 1996-
the golden years of domaining.
Bitcoin is the .com of crypto.
I will be investing in Bitcoin and
believe that all the other crypto
currencies will fall behind Bitcoin.
Beware of those ICO’s as most will fail.
John Colascione
CEO, Long Island Media Inc., LongIsland.com
& many others
Most
people in our industry have a lot of
domains but not many (if any) that have
been developed into full-blown businesses.
John Colascione is not most people
- his focus has always been on talking
relevant domains and building businesses
on them (see his LinkedIn
profile to see what I mean). John
also writes about the business of buying
and developing domains on his blog at StrategicRevenue.com.
John
Colascione
Founder, Long Island Media Inc.
LongIsland.com |
One
of the most significant changes I
feel took place in 2017 is
contained within my own
observations and my own
confirmation that social media,
specifically, Facebook, is
becoming an equalizer on the
playing field when compared to
Google as a “top referrer of
traffic to websites”. I
wear a lot of hats in this
industry and for the multiple
companies I am involved in, but
for the most part, my key
objective and responsibility is
always overall website
monetization. I feel in 2017 I,
myself, have finally come to terms
with the fact that website traffic
generation is no longer all about
Google, but rather it is cut up
between these two Internet giants,
Facebook and now Alphabet, with
their Google search engine.
It
seems, at least based on what I
have experienced with my own
projects, that while Google, as a
search engine and traffic
referrer, is implementing never
ending rankings changes,
predominantly due to their paid
search model growth and expansion
of their local listing endeavors
(aimed at all directories),
hogging up the natural results,
(and there is more of this to come
with Google’s guaranteed local
listing services) it’s Facebook
that is filling that gap, becoming
a top referrer to websites, and in
many cases, delivering much more
traffic than Google, |
due
to its massive audience, and their
own endeavors to keep people on
Facebook, for their entire lives.
Facebook will also continue to
compete with Google in advertising
by doing exactly what they are
doing now, by building their
advertising network around an
already user-friendly, simple
system, that the ordinary Facebook
user already understands how to
operate.
Looking
ahead to 2018...
There
has been so much change in the
past few years that we should all
be prepared and very much expect
this to remain the status quo.
There will continually be battles
over what types of content appears
in search and how Facebook
attempts to capture more and more
people to both their platform and
away from the Google ad network
and to their own. The .com domain
will remain the gold-standard in a
never-ending sea of alternatives,
although it should now be clear to
all that no longer does your
domain name, regardless of
extension, provide the type of
significant leverage it once did -
and that domains need to be
developed, not only into great
sites, but great and powerful
brands – that is, if they want
to compete for web traffic
algorithmically. Social media will
continue to morph into its own
optimization component adding
continually challenging tasks for
the everyday marketer who must now
master both to succeed.
Ray Dillman Neu
Co-Founder, MERGE!
Conference
Ray
Dillman Neu literally grew up
in the domain business. When he
was still a teenager Ray was able
to learn the ropes while helping
his dad, attorney &
T.R.A.F.F.I.C. Co-Founder Howard
Neu, stage the first major domain
conference ever (T.R.A.F.F.I.C.
2004, put on by Howard and Domain
King Rick Schwartz in Delray
Beach, Florida). Since then Ray
has bought, sold and developed
many domains and co-produced many
major conferences. His
primary business now is the new MERGE!
conference that he and his
partner, NamesCon Co-Founder Jothan
Frakes, launched in
October 2017 in Orlando.
Ray
Dillman Neu
Co-Founder, MERGE!
Conference |
The
biggest trend in 2017?
Obviously,
cryptocurrency. Domainers
have always been on the
forefront of the newest
tech trends. Some came
from the 800 number
business, to domains, and
now crypto. It is not a
surprise to me that many
domainers had the
foresight to get into
crypto early; even though
many still believe we are
in the first or second
inning of cryptocurrency!
What
excites you about 2018?
The
timing of MERGE! could not
have been better. Jothan
and I both feel the stars
aligned and we truly are
merging industries from
all facets of tech
business. We tout the show
as the world’s fair of
tech covering everything
from domains,
cryptocurrency/blockchain,
hosting, development,
startup/business.
This
year MERGE! 2018 is being
presented in a new venue
to help keep attendees
cost down and their
experience up! The Hilton
Lake Buena Vista - Disney
Springs is the
perfect setting to bring
all of these different
investment opportunities
into one venue. The rates
of $149 per night are
affordable; the location
across the |
street
from Disney Springs is
fantastic; and the
networking areas are made
for just such a show. The
hotel is not as large as
last year's and it makes
for an easier experience
for all attendees and
Sponsors. Once again
MERGE! will be at the
forefront of bringing all
of the compatible and
symbiotic interests
together to make it a
truly unique experience. |
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Domain
Brokers
Kate
Buckley
Founder & Principal, BuckleyMediaGroup
We
had Domain Broker Kate Buckley in last
year's State of the Industry report after she had
finished 2016 with two that year's 20 biggest domain
sales. For an encore, in 2017 Kate went out and rang up
three of the year's top 25 sales, a trio led by Refi.com
at $500,000. Look out 2018, Kate is in the house and
determined to make sure the hits just keep on coming.
Kate
Buckley
Founder, Buckley Media Group |
In
2017, more than ever, there was a
realization from the leadership of major
consumer-facing companies that a subpar domain or
non consumer-resonant extension simply will not
cut it. Particularly as many of them cede more and
more marketshare to Amazon, and/or the tyranny of
Google, they see ultra-premium domains as a way to
claw back. And not just to regain ground, put to
plant a flag in that ground with an authoritative
ultra-premium .com. Which is exactly what
Guaranteed Rate has done with their acquisition of
rate.com
(they are now cleverly branding with rate.com
throughout their consumer-facing campaigns—from
sponsorships to TV and radio ads to billboards!).
Not
only does this place them first in the minds of
the consumer, but we have now seen conclusively
that ultra-premium .coms are appreciating assets
that add value to their balance sheets and can be
liquidated down the road (think: fly.com).
Compare and contrast that to pouring money down
the gullet of Google, or even traditional
media—there may be short-term gains, but
arguably little to no lasting impact.
|
In
the industry overall, I think we’ve seen a loss
of confidence in both privacy and escrow services,
as well as a real need for independent analysis
and due diligence before undergoing any
significant transaction.
Additionally,
blockchain technology continued to fascinate as
investors speculated profits via IOCs and
governments and organizations speculated via
applications (think data management and IOT). And,
as Raymond Hackney recently reported: “Verisign
released their top trending keywords for December.
No surprise it was crypto dominated again.
Everything in .com was coin/crypto related.” (Think
coin, crypto, chain, block, etc.)
Looking
ahead to 2018...
I
don’t see a lot of fundamental changes for 2018
from 2017 (for my company or category). I see one
and two-word premium .COMs continuing to
appreciate in value, and the lower value domains
(including new TLDs) flattening to
depreciating—certainly not emerging on the
aftermarket. Consumer-facing companies
increasingly appreciate the tangible value of
ultra-premium.coms, not only in terms of the
bottom line, but in terms of authority principle,
social proof, and consumer resonance. That’s not
to say there’s not a time and a place for new
TLDs (particularly for B2B), but I don’t see
them moving the needle in any meaningful fashion
for brands. Startups are also investing more and
more in premium domain names as they look for more
efficient ways to capture marketshare right out of
the gate.
On
the tech front, we’re seeing a not unexpected
correction in the cryptocurrency market (with an
even more severe value correction predicted), but
blockchain, of course, is much more than bitcoin.
It’s the decentralized ledger technology that
tracks bitcoin transactions, and has massive
applications and implications that go way beyond
the ups and downs for investors—think hardware
convergence and broad sweeping social change.
I
think it will be interesting to watch what might
happen with the integration of blockchain with
domain names. Not only with financing and
acquisitions, but as crypto domains themselves
increase in value. As Crunchbase reports,
“Bitcoin eclipsed ‘cancer’ in worldwide
search interest sometime in November 2017.”
However, at the current time, I treat all things
crypto-related as “racetrack money”
(particularly given the recent crash and rampant
concerns about regulation and fraud). Great for a
long shot, but don’t bet the house. As the dust
settles, premium .COMs will still be the most
dependable assets and you'll own the real estate.
Andrew Rosener
CEO, MediaOptions.com
Year in
and year out, few domain brokers have been as consistently
successful as MediaOptions CEO Andrew Rosener.
The only reason you don't see his name far more
often on our weekly
sales charts is that he deals primarily in
the kind of high end domains that come when non
disclosure agreements when they change hands.
While domains have been his bread and butter,
another kind of virtual asset has made him sit up
and take notice.
Andrew
Rosener
CEO, MediaOptions.com |
For
me there is no question, the biggest event
or trend of 2017 was around Crypto
Currency & Blockchains “coming to
the masses”. This was the year
that the World woke up to Bitcoin! Funny
enough, we “earned” our first Bitcoins
in 2013 or early 2014 when someone
couldn’t pay for an approximately
$10,000 domain deal in $USD and asked if
we would accept Bitcoin. Since we
only paid $69 for the domain, I said sure,
why not, since there was very little
downside. Those Bitcoins are now
worth over $300,000! Unfortunately,
we sold them in 2016 when the price
started to rise above $1,000. Ouch!
For
registrars this was evident in the massive
number of new registrations containing
crypto related keywords. However,
for MediaOptions this was more apparent in
the number of crypto related companies
that we sold domains to (premium domains,
not necessarily “crypto” specific
domains) and in conjunction with that, the
number of companies that bought domain
names from us using Bitcoin! In
total we concluded 2017 with near 10% of
our total sales volume in crypto currency
I’d estimate. This trend will most
certainly continue and likely escalate in
2018. |
In
addition to the very obvious trend of
blockchains & crypto currency
influence on the domain name market, I
also saw a very large divergence in the
domain market as a whole. We now
have (more than ever) two very separate
and unrelated markets, one at the top end
(top 2% of domain names) and everything
else. The demand and therefore
prices of the best domain names (LL.com,
LLL.com & One Word .COM) have
noticeably increased in 2017. Its
becoming incredibly difficult to source
top notch domains, especially one word
brands, for our clients. However, on the
flip side, the mid tier and lower end
names have dropped by the wayside. We
have found very little demand or liquidity
for the mid range and lower names. I
also expect this trend to continue and
likely exacerbate in 2018.
I
believe 2018 is going to be a very
exciting year in Domaining! 2018 is
going to be the year that companies &
brands take back their identity. Take
control of their branding & message.
Take control of their customers
& data. They will move away from
the social media dependence and allowing
3rd parties to control their brand,
message & data. Move away from
the “walled gardens” and with that, I
believe, they will come to realize the
value & importance of premium domain
names more than ever before. This
will be reflected in higher valuations,
greater scarcity & more deal flow.
We completed the two largest domain
transactions we have ever made in 2017 and
will close a similar deal likely right
around the time this gets published.
Of
course, as mentioned there will be all
kinds of innovations and developments
coming out of the crypto & blockchain
space that will benefit domain names.
For one, the sheer number of
new companies and projects that will be
launched, each one of them will need a
domain name. With the industry still
in its infancy, we have seen an early
adoption of the .io domain extension.
But we are already seeing that as
these companies begin to mature &
grow, they upgrade to their
.com. Particularly for the
Crypto Currency markets, it is foolish for
ANY company to operate on anything but the
.com since they bleed traffic & email
from anything else and that is highly
sensitive since these are financial
organizations and dealing with very
sensitive data and information. We
are already witnessing this first hand.
Ryan McKegney
CEO, DomainAgents.com
DomainAgents.com
has been making waves ever since the
company was founded by brothers Ryan and
Phil McKegney in 2012. CEO Ryan
McKegney picked up a big award at the
2017 NamesCon conference when Escrow.com
named DomainAgents one of the top five
brokerages in total sales volume on the
Escrow.com platform.
Ryan
McKegney
CEO, DomainAgents.com |
There was a lot of consolidation within the industry during
2017 with GoDaddy investing heavily in domain portfolios, Tucows buying eNom, and the rollup of nTLD registries. What this means for the long term health of the industry is uncertain.
In domain names themselves, the hottest and most obvious trend has been in crypto related domain names. Anything with 'coin' or 'block' in it has garnered much more interest. We've also seen domain investors selling domains to invest in crypto and then some of the profits realized in crypto flowing back into domains themselves as crytpo investors look to diversify or buy trophies.
Looking
ahead to 2018...
Crypto
currencies have captured a lot of
the mindshare of the domain
community and online investors in
general. There are probably
a fair number of people who might
have tried investing in domain
names who have instead focused on
crypto. That could end up
being an opportunity for some
domain investors who stick with it
or it might just accelerate the
consolidation we're already
seeing. |
George Hong
Founder & CEO, Guta.com
George
Hong, a native of China who
lives in the U.S and maintains
offices in both countries, is intimately
familiar with key buyers and investors on
both sides of the Pacific. With Chinese
buyers becoming a market force -
especially at the high end of the market -
in recent years, his company, Guta.com,
has enjoyed tremendous growth.
George
Hong
Founder & CEO
Guta.com |
A
significant trend in 2017
was Cryptocurrencies and
blockchain bursting into the
mainstream. Blockchain was a
primary content theme for major
domain conferences like Namescon
and the inaugural Merge
conferences. Another hot trend is
the expansion of the sharing
economy. At the beginning of 2017,
few people know about the concept
of bicycle sharing. By the end of
the year, some bicycle sharing
company names are household names
in China and many other countries.
These two trends provide
plenty of examples that underscore
the value of premium domain names
and show us that end user market
is strong and active.
Bicycle
sharing company OFO spent USD 7
figures to upgrade their domain
name from ofo.so (a hand
registered name by the founder of
ofo) to ofo.com
(brokered
by Guta). Car Sharing
company DiDi Chuxing (url: didichuxing.com),
commonly known as DiDi, bought didi.cn
for close to USD 1 Million.
We
heard a lot of high priced crypto
related domain sales in 2017. Guta
has brokered the sales of several
crypto related domains for much
higher than wholesale market
prices. Even in the |
wholesale
market, LLL.com domains that end
with C (Coin), T (Token), B (Bi:
Coin in pinyin) and L(Lian: Chain
in pinyin) command a higher price
than average LLL.com domains. In
order to add credibility to their
projects and to attract investors,
some ICO projects bought and
leverage premium domain names. An
example: Game.com is the domain
name of an ICO project. Another
example is XMT.com, a domain which
was reportedly sold for an
8-figure New Taiwan dollar amount
about 1 month ago. There is a
statement in the center of
the xmt.com
web page (in 4 different
languages) that states: "The xmt.com
domain, which was purchased with
tens of millions, is a reliable
site for you to choose".
Looking
ahead to 2018...
We'll
continue to see two letter
and three letter domains selling
well in the aftermarket. Last
year, Guta brokered the sales of
several two letter .com domains,
some of them are 7 figures sales.
In 2018, we expect to see high
value .com sales in this category
- mostly into the Chinese market.
Soccer
is the world's most popular sport
in terms of fans. 2018 is a soccer
world cup year (which happens only
once every four years). Many
operators of world cup related
websites like to use numeric
domains. Short numeric
.com/.cc/.net domains have been
sold recently. Guta has been
having a strong January brokering
the sale of numeric domains. We
expect the demand for short
numeric domains will continue into
the first half of 2018.
We
will see more and more people who
invest in both Domain names &
Crypto Currencies. Crypto
Currencies will get more popular
as a payment method for domain
sales. An increased number of
domain industry companies will
start looking into different ways
to leverage crypto currencies
and/or blockchain technologies to
improve their existing services or
create new services.
In
2018 I predict that some domain
escrow companies will add bitcoin
as a payment method and gain a
noticeable amount of new customers
because of it. Guta brokers a lot
of sales where buyers and sellers
live in different countries and
use different currencies. Some
buyers can only pay in RMB, which
sellers and escrow companies in
the west don't accept. We
constantly find ourselves spending
time and efforts helping buyers
convert money to USD and wire them
to escrow companies or sellers.
Paying via cryptocurrencies will
speed things up and make domain
transactions smoother. |
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