One of the main features of the new version of our app is the option to transfer cryptocurrency to an external wallet using an Unstoppable Domains domain. But we know that not all our users know about these domains, so don't worry, you've just entered the right blog to learn everything about NFT domains and discover this useful tool offered by Web3.
What are NFT domains?
Before going on to talk about the uses of this new tool, we must understand what it is in itself. NFT domains are quite similar to traditional web domains or ENS (e.g. youtube.com), but these are built on the blockchain, which makes them more secure and fully decentralized. This means that when you buy an NFT domain, full power over that unique domain is transferred to you.
The big problem with crypto transfers
If you've ever made a crypto transfer to a wallet, you should be quite familiar with the fear of confirming the crypto address that will receive that transfer.
If you haven't yet made a crypto transfer, you can see the address of your wallet and notice that it looks something like this: 0x501906CE564BE7BA80EB55A29EE31ECFAE41B6F2. It is very unlikely that you will be able to memorize each of these random characters and the worst of all this is that, when making or receiving a crypto transfer, a simple error in one of those characters can cause your money to be lost forever.
Obviously, there is the option of simply copying and pasting the address, but it can happen that we don't have that tool available, which can result in real chaos.
Crypto addresses were designed with that amount of numbers and letters because it's computers that really need to understand them, but for some reason no one thought it would be useful for human beings to at least be able to remember them.
Unstoppable Domains to the Rescue
This San Francisco-based startup was founded in 2018 by Matthew Gould, Bogdan Gusiev, Bradley Kam and Braden Pezeshki. Unstoppable Domains has as one of its main objectives to solve this big problem of crypto addresses with the help of NFT domains.
With them, you can create a custom domain such as”Your name.crypto” and this way you don't need to share a huge string of numbers when it comes to receiving cryptocurrency in your wallet. This completely eliminates the risk of losing your money and greatly speeds up the process of making a transfer.
That's not all you can do with Unstoppable Domains, because your NFT domain is also your access key to Web3 where you can discover thousands of tools and dApps.
Best of all, you can buy your NFT domain starting at $5 and you don't have to worry about renewing it, as you only need to pay once.
How to create an Unstoppable Domains?
- Visit the website unstoppabledomains.com
- Type in the personalized name that you like the most.
- Select the ending you want (.crypto/.wallet/.nft/and many more) and add it to the shopping cart.
- Create an Unstoppable Domains account. You can do this quickly with Google or directly with your crypto wallet.
- Now you only have to pay the cost of the domain. As expected, you can pay using cryptocurrencies such as BTC, ETH or DAI.
- Coin your domain on the blockchain completely free of charge.
- Link your crypto wallets to the NFT domain and you're good to go.
That's how easy it is to have your NFT domain and forget about that fear forever when it comes to sending or receiving cryptocurrency.
Best of all, in El Dorado you can send and receive cryptocurrency using your Unstoppable Domains, so don't wait any longer and launch your NFT domain With us.
