When you started looking at the internet as a possible means of making money by setting up some online business, practicing ecommerce, participating in online forums or writing blogs it is very likely that you came across the term ‘domain names’ very often without paying much attention though on their real meaning and potential.

Here is a revolutionary idea for you. There are people out there who have become millionaires by selling or trading domain names. Yes, just simple website names.

Unfortunately , it is a little late for you to take advantage of the low prices of the 80s for some major names , imitating that guy who bought the pizza.com name for a few cents a couple of decades ago and sold it lately for some million dollars. This doesn’t mean though that there are no amazing options for you out there. On the contrary, people still buy and park some amount of domain names and put them back on the market when demand is high, either in general or for a particular kind.

Let’s say that you buy the XXXX name with all possible extensions: .com, .net, .org etc. Since it’s available you can buy it for a few dollars. Tomorrow, you might find a company going by the same name of XXX trying to put up its website. The domain name that represents the company is sold to you, so what you can is sell the rights for the name to that company for the double, triple or even more amount of money.

Is it as easy as it sounds? No, it takes time and research to find the right bargain. But it’s up to you to do it. Here are some tips for you:

- There are worldwide auctions for domain names which are sold for astronomical prices. Just a couple years ago a lucky man sold the vista.com name to guess who for 1.5 million dollars.

- Even though most of the .com names are already sold, the law of expiration works in your favor. You can track down some good ones, contact the owner and buy them just before or during the expiration time for extremely low prices. Then you can sell for double and have your first big financial success. When you buy for 0.5 what costs 1, you can hardly go broke ever.

- Domain world is about to change soon since the superpowers of the World Wide Web and economy are already considering ways to avoid the lack of available domain names for sale , trade and use. This practically means that a whole new world is about to open and you should be well informed and get your share in it.

Don’t feel discouraged by the fact that some other people were faster and already found some niches buying as many as they could afford. This game is endless and has a room for many.