We’re going to talk about how to get a .eth domain name for our Ethereum (ETH) addresses, what is the point of doing it, and even how can we get profit from it.
As this guide is for beginners to intermediate crypto users, we will also have a short preview on DApps to better understand what the Ethereum Naming System (ENS) actually does.
Without further ado, let’s get going.
DApps
DApps or Decentralized Apps are digital applications that run on blockchains and sometimes through other P2P networks that are outside the control of a third party or a single authority. This means that all transactions, funds and activities in the DApps are owned only by the specific user and that no third party can interfere with; unlike how centralized authorities like banks operate where they can halt your activities or even remove your funds.
There are a lot of DApps out there. Some are used for financing, some are games; there’s DApps for collectibles, gambling, governance, security… Ever heard of DeFi and NFTs? These are also DApps. In fact, the some extent Trust Wallet is a decentralized app as well.
Now that we have a good idea what DApps are, we can proceed on getting ourselves our own ethereum name.
What is ENS?
ENS or **Ethereum Name Service **is a DApp that allows users to shorten their long, and hard to remember, Ethereum addresses into a more readable format.
ENS are specifically domain names that are based on the Ethereum network and smart contracts. You can think of ENS as the blockchain version of Domain Name Service(DNS) but cheaper and with more uses.
ENS is great because it is not only limited to be used as an address for sending and receiving Ethereum, but it can also be used as the domain name. Instead of .com or .org, we can instead use .eth which is way more appealing and uhmmm…cool!
Still confused? Basically, ENS is that fancy .eth name you see a lot on websites and Twitter like the ENS of Vitalik Buterin, Ethereum co-founder.
The idea in this is that instead of typing long hexadecimal addresses, you can just type yourname.eth. This can be used for sending funds, interacting with smart contracts and even through Ethereum DeFi DApps like claiming UNI in Uniswap.
Additionally, ENS is an interesting way to try and create some profits as you can register .eth addresses for 0.01 ETH and then later sell it at 1 or even 100 ETH depending on the rarity of the name.
Where can I register a .eth domain?
You can register our own .eth domain through https://ens.domains/ and establish a web3 connection from our Ethereum wallet.
Fortunately, Trust Wallet app makes it even simpler.
- Open the app and go to the DApp browser.
- Next, we have to access the Ethereum Name Service DApp. As we are using Trust Wallet, it will automatically establish a web3 connection. Just make sure to check that the ETH address you want to be ENSified is correct.
- We will be redirected to ens.domains registration page. Unfortunately, Binance Smart Chain is not yet integrated so make sure that Ethereum is selected. Then, enter desired name on the box and enter. If your desired name is already taken, you can buy it at an auction such as https://enslisting.com/ or just think of a new one.
Then:
Select the lifespan of your domain name. The lifespan is the time you have ownership or access to the ENS domain. Remember that you can renew lifespan anytime. You can own a .eth domain for a year for only 0.012 ETH(~$5) or 10 years for 0.123 ETH(~$50). This is alot cheaper than the 2-year premium plans from regular DNS providers.
Finally, click register, wait for the confirmation window from Trust wallet and confirm the payment.
Congrats! You now have your own .eth domain. You can use it as your recipient address rather than the 0x address or if you still haven’t claimed your UNI tokens, you can now give them your .eth address.
ENS domains are useful in our interactions with the Ethereum network. They save us the time typing in long addresses without compromising the security of our funds. ENS domains also allow us to show ownership of the address and can even be used as our website domains through IPFS as our host. ENS are basically NFTs with unique properties so we can also sell it for profit, but that’s another story.
Lastly, I have to admit that having .eth beside our names is also pretty cool!
