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namesilo payment plalns

NameSilo, a domain name registrar, has just launched the ability to offer Payment Plans for premium domain names to customers. The announcement by NameSilo came via an email which can be read below.

This means that customers can pay for a premium domain in the NameSilo Marketplace utilizing NameSilo’s shopping cart and payment options. If the purchase price and transaction are under $5,000 customers can pay for a domain with a Credit Card, Debit Card, Skrill, PayPal, Bitcoin, Alipay, or Dwolla. If the purchase price and monthly payments are over $5,000 the buyer will have to pay via wire transfers. At least that’s my understanding from the email that management sent to customers.

The important caveat to using NameSilo’s domain payment plan, the domain must be registered at NameSilo to use the service. Once the initial down payment is paid, the buyer gets the domain immediately. The payment and domain transfers is handled by NameSilo so it’s understandable this is the only way to offer this service.

NameSilo offers extremely competitive pricing for domain names and obviously many great features. It’s $8.99 a year for .COM domains and $8.39 to transfer a domain to NameSilo. Transferring a domain there should be a no-brainer if you want to use the domain Payment Plans service with a buyer.

I decided to set several domains as an option for payment plans and it was easy. You can set the payment time from 1 – 12 months and the down payment amount you want. If there are too many default payments on your domain from a buyer, NameSilo will transfer the domain back to your account.

Here is a landing page and payment plan option example – http://www.clouddojo.com/

Since the NameSilo domain payment plans are brand new, I haven’t used this option. I have sold a domain via the NameSilo Marketplace once before and it really couldn’t be easier. Here is how the transaction went down;

  • Buyer emailed me.
  • We agreed on a price.
  • I set a lander with that price.
  • Buyer paid via NameSilo’s checkout.
  • They immediately got the domain in their account, NameSilo took care of the account transfer.
  • Waited to get funds transferred into my account.

NameSilo charges a 7.5% commission for Marketplace transactions. While that might seem high most other registrars don’t offer as clear domain pricing and good features. NameSilo ONLY sells domain names and nothing else. You won’t be upsold on garbage new domain extensions, SSL certificates, SEO services, web hosting, etc. They sell domain names and just focus on that. In addition most domain marketplaces charge a 15% – 30% commission.

To release funds from your account you have three different options.

  1. Account Funds – There are no fees for disbursing funds into your NameSilo account. Funds can be used for buying, renewing, or transferring domain names with NameSilo.
  2. PayPalYou can have money transferred into a PayPal account. There is a 2% PayPal transaction fee and the money amount to be transferred has to be above $20.
  3. Wire Transfer – You can have the funds disbursed into a bank account with a Wire Transfer. There is a $15 wire transfer charge. You will need your bank’s routing number for banks and credit unions in the US. International wires will require an IBAN/SWIFT number. You will need to enter in the bank address, phone number, country, and other relevant bank and credit union information.

I personally have many domain names that get inquiries often… but can’t seem to move. People are shocked by the 4 figure asking price. Next time I get an inquiry and someone isn’t willing to pay a lot upfront, I’ll be happy to offer a payment plan. If you can do a payment plan with a domain name, hey at least that’s a sale and steady source of income while the buyer is paying for it.

NameSilo did share data regarding it’s marketplace transactions several months ago.  They seem to be making slow but steady sales on the platform.

What do you think of NameSilo’s domain payment plans? Is this appealing to you as a buyer and seller? Are you planning on offering this option to potential buyers that contact you in the future?

This post was submitted by WebHostingJobs.com. The premiere and only jobs board for the web hosting industry.

NameSilo Payment Plans [Email]

Based upon feedback we have received, we have just added some pretty exciting things to our Marketplace that we’d like to let you know about. As always, you can find more complete details about selling your domains on our Marketplace at – https://www.namesilo.com/Support/Marketplace.

Listed below are the highlights of our most recent updates:

  • Payment plans now available!
  • Set maximum number of months for payment plan
  • Set minimum down payment
  • Buyers receive the domain immediately after issuing the down payment
  • Buyers can prepay for their installment payments or get billed automatically. If more than 5 payments are missed, the domain is returned to you and you keep any earned payouts.
  • Add payment plan support at any time – even after bids/offers have been made. This means you can update any of your existing sales to offer a payment plan.
  • New Marketplace rules for payment methods accepted to make purchasing your domains easier for Buyers!
  • Any sale or payment plan payment under $500 no longer requires a verified method of payment
  • Our minimum price to require a wire transfer was raised from $1,000 to $5,000
  • AliPay, the most popular online payment processor in China, can now be used for Marketplace sales
  • You can now receive payouts immediately if the Buyer pays via AliPay, Bitcoin or wire transfer. Other payment methods still require a 7-day waiting period to receive your payouts.We hope these updates help you sell your domains by offering more options for your Buyers, easier payments for sales and faster payouts for you!

We’d like to thank you for your continued patronage, and please always feel free to let us know with any questions, concerns or ideas for improvement.

Thanks,

The NameSilo Team
support@namesilo.com

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.KIWI, a new domain extension aimed at the New Zealand market, has experienced tremendous registration growth the past two weeks.

.KIWI has gained 170,000+ domain registrations according to NtldStats and NameStat, websites that track new domains. As of this writing there are 187,225 .KIWI domains registered. This now puts the .KIWI domain 22nd in terms of domain registration volume on NtldStats.

.KIWI Domains Graph

These are impressive registration numbers for a domain I’m fairly sure few people know about. I am doubtful many Kiwis, a term for people from New Zealand, even know about .KIWI domains. This is who .KIWI was introduced for in the first place.

The main domain extension that people use in New Zealand is .NZ and more specifically .CO.NZ domains. According to the Domain Name Commission, the governing body for .NZ domains, there are 668,000 .NZ domains across the entire .NZ domain space. A good amount of domains for a country that has only roughly 4.4 million Kiwi residents.

With 170,000 .KIWI domain registrations in two weeks, does this mean that a bunch of Kiwis see the benefits of .KIWI domains? Extremely unlikely, what is more likely….

Domain Zone Stuffing

Okay, let’s be honest. You don’t get 170,000+ new domain registration magically out of thin air. While it would be nice to root for the new upstart domain extensions the reality is we have seen this play many times before. New domain registries claim success by jacking up domain registration numbers and stuffing the zone file.

.XYZ has done this many times and even given free domains. .XYZ ran a deal with Network Solutions where they gave customers free .XYZ domains that matched the .COM domain in their account. The .XYZ registry also ran a promotion in the summer where they sold .XYZ domains for 1-2 cents. Currently they have the most domains with 6+ million .XYZ domains registered.

Odd thing though is searching I can’t find any registration deals for .KIWI domains that occurred in the past 2 weeks. Is this a similar move like the .XYZ and Network Solutions deal?

There are only two domain registrars that have the bulk of .KIWI domain registration. They are Tucows, which resells domains through it’s OpenSRS platform and runs the domain registrar Hover. Tucows has 104,297 .KIWI domains under management.

Then there is Web Drive Ltd. which operated as DomainAgent.co.nz a reseller for .NZ domain names. There isn’t much info about the company but they seem to specialize in reselling .NZ domains to registrars. They are a business to business domain registrar platform. This makes me wonder if DomainAgent.co.nz and Tucows gave registrars .KIWI domains free to match whatever domain they currently own. Or did domain reseller partners actually sell these .KIWI domains?

Currently it’s really unclear. Before this domain registration spike the .KIWI domain was stagnate at around 10,000 domains. So they needed to do something. I have never seen a .KIWI domain in a search result, but zone stuffing a bunch of domains that people are not using.

Most people wonder, “Why would you want to have a ton of domains that are’nt in use?” Simple, this enables the new domain company to claim success and show-up on the domain registration leadeerboards on sites like NtldStats and NameStat. .KIWI is 22nd on NtldStats board right now and 19 on NameStat for domain registration volume. Great for recognition and and getting the world out there about you new domain. It’s a simple marketing really.

Like all domain registries, .KIWI has over 1 year to figure it out. We all know the domain drops don’t happen on expiration but take a few months after that. So they try to get ahead of these drops by re-running deals. Eventually this will catch-up to new domains though.

What are your thoughts about 170,000 .KIWI domains being registered in two weeks? Can this be legitimate domain registrations or is the .KIWI registry doing a classic new domain play?

Are you a Kiwi? Do you think .KIWI domains will ever be as widely used as .NZ domains ?

This is a guest article contributed by Adam. Adam is a domain name broker and founder of YamadaMedia.

gears and sprocketsOccasionally I become interested in a new technology that is just beginning to bud, and if it sounds promising, like others I may take a gamble on registering some domains within that field in the hope the technology eventually goes mainstream.

Each year as the domains come up for renewal I spend some time reviewing the technology, through searching Google News, Google Trends, Google Keyword Tool, and some other tools to attempt to gauge how the field is evolving and whether the investment will prove out, i.e. – whether to hold or dump.

I don’t have too many of these types relative to the size of my portfolio, but I am reviewing one such set now that is coming due for renewal.  Since 2012 when I first registered the names, I have spent approximately $560 over the past 4 years in registration and renewals to maintain the names.

Although each year I evaluate the technology, it seems to be slowly gaining momentum, it is yet to go mainstream and it may well be another four years before it does, if it all.  That is always the gamble.

Assuming it did, in another four years, that would mean perhaps another $500 invested, or a total of $1k, which then again, if it does not and fails to take off, I will still be left asking the same questions and running the same evaluation in four years time, and trying to ascertain whether there is still prudence in renewing or whether I am throwing good money after bad.  With the $1k I might presumably have laid out over that 8 years, I might have instead purchased a more premium .com domain or spent it on 5 to 10 valuable backorders that would have been more likely to return an investment.

Again, the new-tech holdings are a small fraction of my portfolio, so in once sense I see it as a sort of diversification, or at the least, its throwing a little bit of money down on a risky bet on the chance of a big reward … which is not guaranteed.

This is naked speculation for sure.

At this stage, to renew what I currently have I would need to stick about 15% back on top of the $560 already invested.  In some sense I tend to view this similar to pot odds in a hand of poker, except I don’t know the exact odds of making the hand (or, the odds the technology will actually emerge to make the names profitable), however I only know that the amount to add to the pot to stay in the hand is small relative to the size of the pot already, making it seem on the surface like a small decision.  Still, in some sense it is only myself I am playing against, and comes back to that question of whether or not I am throwing good money after bad.

Have you ever bought into a tranche of new-tech domains – names related to a not-yet well known field or technology that you hope will one day become widely used – and if so, what criteria do you use to evaluate how long to hold those names or how long to follow the technology before it seems like throwing in the towel and shifting that money to smarter investments seems warranted.

If you have anything constructive to add please share your thoughts, stories or feedback in the comments.  Thanks for reading.

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