#Domain registrars switch from #Bitcoin to good old cash

The era of crypto currencies is coming to an end, as Bitcoin, Ethereum and Litecoin values lost steam in 2018.

Domain name investing has followed suit, with savvy investors walking away from that particular niche market.

Now, a coordinated effort by domain registrars to drop crypto as a payment option, is about to deliver the final blow.

“We’ve dropped all BTC payments for cold cash, it’s very popular right now,” said Domain Salamander CEO, Piotr Spuf, whose registrar manages domain registrations in Belgium.

“For domain registrations, we take euro or dollar, all denominations. The 500 euro note is rare as it’s often used for unlawful purposes but we don’t discriminate, cash is cash, and domains bought with cash are good investments,” added Spuf.

In the past, expert domain investors have gone as far as buying domain names with a suitcase full of cash, like Mike Bahlitzanakis did.

Domain names paid with cash – Photo by Sharon McCutcheon on Unsplash

Now, domain industry behemoth, Sedo, is about to switch from BTC and ETH to the use of cash:

“Domain buyers will be able to ship us a box or other sealed container filled with cash, up to a million dollars plus commission,” said Sedo finance manager, Helmut Umlaut.

“German post office is very reliable, and one million dollars or euros fit in a large suitcase,” said Helmut Umlaut, referencing a test on how much cash you can fit in a suitcase, adding: “Sedo has just opened a clean facility in Munich to process cash, and we can count up to $2 million dollars or euro per hour.”

International domain investors might have to add insurance to their Sedo payments, however, as cash might be conveniently “lost” during such shipments.

If in doubt, use bank wire or hire an armored vehicle to deliver your domain payments.


Facebooktwittergoogle_plusredditpinterestlinkedinmail
Copyright © 2018 DomainGang.com · All Rights Reserved.

Leave a Reply

Your email address will not be published. Required fields are marked *

 characters available