Transacting with Cryptocurrency on Sedo | DomainInvesting.com
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Transacting with Cryptocurrency on Sedo

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Earlier in the week, I reached out to the leading domain name auction platforms and sales marketplaces to see if they have plans to accept cryptocurrency. From my perspective, it would make sense for people who are active in the cryptocurrency community to be able to spend their cryptocurrency to buy domain names.

According to Tobias Flaitz, CEO of Sedo, the company is “planning to accept cryptocurrency some time in the future.” Tobias added, “We identified at an early stage that there are several touch points between domain investors and crypto currency investors. Therefore our focus is to offer attractive opportunities for domain sellers and parkers, such as allowing payouts in crypto currencies and many other options.” The timing and particulars about which currency will be accepted are both up in the air at this point, but I think this is a very good step for those who own or actively trade cryptocurrencies.

Tobias also announced that Sedo just began allowing customers to transact using cryptocurrency on deals that were brokered by Sedo domain name brokers. This is a new service for brokerage deals, but if there is enough demand, the company may expand it to offer-counteroffer deals, buy now sales, and domain auctions. Here’s what Tobias told me about this:

“What we already support is closing a deal where the Seller agrees being paid by the Buyer in Cryptocurrency, no matter which one. We facilitate the entire process and support the domain escrow with Customer Support and Account Management to ensure a professionally supported and reliable as well as trusted change of ownership. This will already give us some more concrete insight into the usage and acceptance of payment via crypto currencies in the domain industry.”

In addition, Sedo will begin allowing .eth domain names to be listed for sale on its platform. The company expects this to go live within the 1st quarter in 2018.

2017 seems to be the year that cryptocurrency had its break out, and 2018 may be the year it is more widely integrated within domain name platforms and marketplaces. There are quite a few domain investors that are also very active in that business, so I would expect to see some cross-over in the near term.

If you have any questions about transacting with cryptocurrency via Sedo, be in touch with their customer support team.


About The Author: Elliot Silver is an Internet entrepreneur and publisher of DomainInvesting.com. Elliot is also the founder and President of Top Notch Domains, LLC, a company that has sold seven figures worth of domain names in the last five years. Please read the DomainInvesting.com Terms of Use page for additional information about the publisher, website comment policy, disclosures, and conflicts of interest.


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Comments (6)

    R P

    Appears Congress about to pass bill that changes tax rates for exchanging like kind assets such as crypto. Don’t know if would impact crypto to domain sales. Everybody should do own due diligence as always.

    December 14th, 2017 at 10:09 am

    Gene

    Thanks for this info, Elliot.

    “2017 seems to be the year that cryptocurrency had its break out, and 2018 may be the year it is more widely integrated within domain name platforms and marketplaces.”

    We’ll all start seeing widespread use of BTC and ETH (especially) in the coming year or two for everyday purchases via eCommerce. I’d be quite surprised if that doesn’t happen in 2018, 2019 the latest.

    The tipping point will be when AMZN, AAPL, FB, and GOOG serve, essentially, as clearing houses for crypto to facilitate transactions through their platforms.

    They’re the firms pride themselves being on the bleeding-edge, and have the risk capital to convert crypto to fiat (and vice-versa).

    Considering that crypto has absolutely taken up all the oxygen, dominating most conversations – everywhere -, these firms are not likely to punt this further down the field.

    Cypto payments will be the story going forward.

    December 14th, 2017 at 10:15 am

    steve

    Gene, you’re spot on. I believe Amazon will be the first among the giants to enable crypto payments, transactions.

    December 14th, 2017 at 11:39 am

      John

      Overstock beat them to it long ago.

      In reply to steve | December 14th, 2017 at 3:10 pm

    Linda J

    This is smart from Sedo!

    Btw. We are still waiting for the Ad-free “For Sale” landing page Sedo said they would launch in one of your previous blogposts. Sedo mentioned this landing page would be ready “before fall arrives”

    Could Sedo comment on this? Thanks.

    December 14th, 2017 at 12:09 pm

    Sedo

    Hey Linda,

    Thanks for the inquiry and interest on the sales lander page mentioned earlier in the year in another post. This, in fact, is still in the works and hasn’t been forgotten or canceled but its launch was delayed due to other projects in development and other product updates and releases. It’s been a busy year for our tech and product teams! We now have it slated to release in the early part of next year and look forward to hearing feedback from clients like you.

    Thank you for your support and interest in Sedo, best regards,
    Team Sedo

    December 18th, 2017 at 1:36 pm

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