Why does someone pay thousands of dollars for a wrong domain name?

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Domain name is a lucrative business. People to establish and protect their brand identity invest a lot to get a proper domain name. But, questions arise when people shed thousands of dollars for a wrong or a misspelled domain name. Well, the answer isn’t a very positive one

A recent report by the Washington Post, stated that a person bought multiple misspelled domain names for thousands of dollars. Domain name conibase.com was purchased for $16,000. Another purchase worth $200,000 was done for domain names wwwblockchain.com, hlockchain.com, and blpckchain.com. Some very lofty prices for seemingly unviable business prospects right? 

Not, if your goal is non-business related. These domains have their advantage in their disadvantage. Although they are misspelled, they look very similar to the original names. This little difference can be banked upon by scammers operating online. These scammers trick people into sharing their personal details, bank account details and even stealing their money through hoax transactions. Many people aren’t vigilant regarding their domain names and are easy prey for these fraudsters. 

This explains the high prices of these domain names. These useless domains for normal people are a great tool in the hands of wrong people.

About the author

The Wizard

I write on a range of topics that includes Branding, Marketing, Acquisitions, Statistics and an especial emphasis on Domain Name. The opinions expressed may change from time to time as that is how a person and ideas evolve.

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The Wizard

I write on a range of topics that includes Branding, Marketing, Acquisitions, Statistics and an especial emphasis on Domain Name. The opinions expressed may change from time to time as that is how a person and ideas evolve.