So, you’re ready to step into the world of decentralized domains and are thinking about getting a BNS domain?
Well, I should say that is a smart move! With Bitcoin’s growing influence, BNS domains are becoming a key part of the Web3 ecosystem. Whether for personal branding, business or investment purposes. This guide has got you covered.
BNS domains work similar to other blockchain-based services like Ethereum Name Service (ENS) and Unstopabble Domains. But, with a focus on the Bitcoin blockchain. BNS lets you own your digital identity on the Bitcoin network and use it in many other ways than traditional domains were used. These domains are decentralized, secure and censorship-resistant.
ENS domains are making a mark in the web3 ecosystem already. Read more about what ENS domains are and how they work in this article by DroomDroom.
By the end of this guide, you will know how to buy your very own BNS domain and manage it like a pro.
Let’s get started!
What Is a BNS Domain and Why Should You Care?
Before jumping into the how-to, let me clarify what a BNS domain is.
If you know about ENS or crypto domains like .eth and .crypto, you already have a good idea of it.
BNS (Bitcoin Name Service) allows you to register a domain on the Bitcoin blockchain. These domains usually have the .btc extension and can also function as your Bitcoin wallet address.
But it does not stop there. BNS domains are a part of Web3 ecosystem, which means they are yours forever and they are completely decentralized. Hence, no renewals, no central authority to take them down and full ownership on the blockchain.
Additionally, you get full ownever ship and control, so there is no risk of losing it to a centralized organisation. And, your domain is protected by the cryptographic security of Bitcoin itself.
As Web3 grows, having a Bitcoin-based domain could be as important as owning a .com domain today.
Why Buy a BNS Domain?
There are several good reasons to own a BNS domain. Firstly, the very meaning of a decentralized domain means that you will own your domain, no renewals or no middlemen. Pay once and it is yours for life.
There’s also investment potential. As web3 world evolves, Bitcoin-based domains will grow in value similar to how .com domains became expensive as the internet expanded. Grabbing a memorable .btc domain now could pay off in the future.
Finally, the main reason has to be convenience of using a BNS domain is huge. Imagine receiving Bitcoin by simply giving out your .btc domain instead of a long wallet address. It’s simple and efficient.
Step-by-Step: How to Purchase Your First BNS Domain
Now that you know the benefits, let me walk you through the process of buying a BNS domain.
Step 1 is to find a BNS Domain Registrar
First, you’ll need to find a registrar that supports BNS domains. One popular option is Stacks. It uses the Stacks blockchain and gives access to Bitcoin-based domains like .btc. Create an account on the platform to get started.
Step 2 is to Search for Your Desired Domain
Now the fun begins here! Think about what you want your BNS domain to represent. Is it for your personal brand or your business?
Once you are logged in, enter the name you want in the search bar. And, if the name is already taken you can try different variations until you find the perfect one.
Step 3 is to add the Domain to Your Cart
Once you have found the perfect domain, go ahead and add it to your cart. You can register more than one if you like. Some domains might be more expensive, especially shorter or more popular onces, but there are great deals too.
Step 4 is to Checkout and Pay
When you are ready finally, proceed to checkout. You can pay with crypto like Bitcoin or Stacks tokens. Some platforms might also offer traditional payment options, such as credit cards.
Step 5 is to Mint your Domain
After the payment, your domain will be minted on the blockchain. This registers your domain on the Stacks blockchain which makes it a permanent asset on the Bitcoin network. The minting process happens automatically after you complete the payment.
Final step is You can Manage and Link Your BNS Domain
Congratulations! You now own your BNS domain.
The next step is linking it to your Bitcoin wallet. Head to the settings page on Stacks and follow the steps to connect your domain with your Bitcoin wallet. From now on, people can send Bitcoin to you using your .btc domain.
Managing Your BNS Domain
Managing your BNS domain is a very easy task. Below is what all you can do with it.
- Update your Wallet Address
- Set up a Decentralized Website
- Perform Payments
- Use it to send and receive crypto
You can easily sell or transfer your BNS domain. If you want to sell it, you can list it on marketplaces like OpenSea or even transfer it directly to a buyer. Since your BNS domain is on the blockchain, transferring ownership is a very straightforward task. You can simply transfer the domain to the buyer’s Bitcoin wallet address and the ownership changes hands quickly and securely.
Final Thoughts: Make Your Move with a BNS Domain
With the rise of Web3 and the growing need for decentralized identities, owning a BNS domain is more than just a trend. It is a forward-thinking move that positions you ahead of the rest of the digital world. Whether you plan to use your .btc domain as wallet address, set up a website or hold it as a long-term investment. The opportunities are endless!
Buying and managing a BNS domain is easier than ever. Platforms like Stacks make the process smooth and accessible.
So why wait?
Take the first step, secure your BNS domain and become part of the decentralized web today!
