When you started looking into the internet as a possible way of making money by making some online business, practicing e-commerce, become involved with online forums or writing blogs it is very likely that you came across the term 'domain names' quite often without paying much attention though on their real meaning and capabilities.

Here is an innovative idea for you. There are people out there who are now millionaires by selling or trading domain names. Yes, just basic website names.

Unfortunately, it is a little late for you to make the most of the low prices of the 80s for some major names, imitating that guy who purchased the "pizza" domain name for a few cents a few decades ago and sold it recently for some million dollars. This doesn't mean though that there are no amazing alternatives for you out there. But on the other hand, people still buy and park an amount of domain names and put them back on the market when the demand is high, either overall or for a particular type.

Let's say that you purchase the XXXX name with all likely extensions: .com, .net, .org etc. Because it's available you can buy it for a few bucks. Tomorrow, you might find a company going by the exact same name of XXX trying to put up its web site. The domain name that corresponds to the company is offered to you, so what you will do is sell the rights for the name to that company for double, triple or even greater amount of money.

Is it as simple as it sounds? Absolutely not, it takes time and also research to find the best bargain. But it's your choice to do it. Here are some tips for you:

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

- Although most of the .com names have already been sold, the law of expiration works to your advantage. You can find some good ones, contact the owner and purchase them just before or during the expiration time for incredibly low prices. Then you can sell for double and have your first big financial triumph. When you purchase for 0.5 what costs 1, you can hardly go poor ever.

- Domain world is about to shift soon since the superpowers of the World Wide Web and global economy are already considering ways to avoid the lack of available domain names offered , trade and use. This pretty much means that a completely new world is about to get under way and you have to be well informed and get your part in it.

Don't feel discouraged by the fact that some other people were much quicker and already found some niches purchasing as many as they could afford to pay. This game is never-ending and has room for a lot more.

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