The obsession to buy and sell domain names has gripped so many online merchants and savvy web users. Why not? Most transactions nowadays occur online. Some people may prefer buying at the brick and mortar stores but wouldn't it be more convenient to simply sit in front of the computer, visit the Walmart website, and click "Buy" on the products in your shopping list? The more popular a domain is, the more likely it generates customers worldwide. Here's a bit of trivia you can use: Almost all words from 0 to 9 and a to z that ends with a .com extension have already been registered!

What is the significance of this? Unfortunately, if you can no longer register domains with the .com extension, you got your choices. Basically, if it ends in .net, .org, or .biz, the better. Most two letter domain extensions are also popular. Your best choice is to either sell your old domain for a new one, or buy another domain name through a broker. Brokers are helpful in buying and selling domain names because they can give value and help you through the domain registration process, as this can get tricky.

Domain registration should be simple as simple as it is, if not for hacks and possible frauds. There are hordes of unscrupulous domain registration services out there that are suspiciously aiming to take your money without giving you the best service they have promised. For example, you can get your domains registered but they won't ask for your name. In reality, they would ask for a fee but register domains under their names. This results in your loss of control on the domains. Remember that as domain owner, having full administrative control on your registered domain is your right and privilege.

These scammers exist, no matter what. That is why it's fairly important to keep domains protected as soon as it is registered. But first, it is essential also to know who are the people behind the domain registration service. You should also take note of the information that they require you to give, such as your postal address. You might think that they are pushing the rules of domain registration a bit too far, but providing the right information can serve you well, especially when your domain ownership is legally challenged.

If you are aware of the protective measures on your domains, you can sleep soundly at night. A well-preserved domain name with existing clients will be extremely profitable the moment you decide to sell them. For instance, Business.com during the dotcom bubble was sold at $7.5 million! Much more expensive domain sale transactions have occurred of course, but they were not recorded. The bottom line? If you take care of your domains from hacking and outside administrative control, your domain retains its selling value and even increases in time.

So how do you protect your domains after it has been registered? As I have mentioned in the beginning, you reserve the right to have the total control on the domain. You should monitor your "Whois" tool to make sure it lists your name as registrant, along with the history of the domain's owners. Take this step a little further and keep a Whois hard copy, so you have proof in case someone challenges your domain ownership.

Now, let's go into the more technical details. A cryptic password is probably your best tool to shield domains from hacking. It would have to be an unrecognizable jumble of words and numbers so it won't be easy to decode. You should also keep an active and accurate email account, where updates and renewals on your domains will be sent to you. If you use an email account that simply wipes off your name after a month that you have not opened your inbox, you're in trouble. Either the domain registrant has done something to the domains, or some hacker is already owning your previous email account.

Some things are beyond the domain owner's control. For this reason, you should be proactive enough to consider things such as domain monitoring service -- reporting suspicious hacking activity and seeking further protection given by your domain registrant. If you could find a free service that monitors domain names, it would be excellent, but far more excellent if you check your email for notifications and renewal updates. In case you suspect something malicious has been going on, for instance, your domain ownership record has been changed, you should report it as soon as possible to the domain registrant.