Registering a custom .eth domain simplifies receiving cryptocurrency by replacing lengthy wallet addresses with a memorable, human-readable name. Instead of sharing a complex string of characters for transactions, you can provide a clean, professional .eth alias. This guide explains the entire process step-by-step, from initiating an auction to configuring your domain.
Understanding the Ethereum Name Service (ENS)
The Ethereum Name Service functions similarly to traditional domain registration systems but operates on the Ethereum blockchain. It allows users to bid on and acquire .eth domains through a transparent, decentralized auction process. Once registered, these domains serve as aliases for cryptocurrency wallet addresses, streamlining transactions and enhancing usability.
The Auction Process for .eth Domains
Registering a .eth domain involves a multi-stage auction mechanism designed to ensure fairness and competitiveness.
Starting the Auction
Initiate the process by selecting your desired .eth domain and submitting a bid in Ether (ETH). This action starts a three-day auction period where all bids remain confidential. Participants cannot see others' offers during this phase.
Revealing Your Bid
After the initial bidding period concludes, participants must reveal their bids within 48 hours. Failure to do so results in the loss of the bid amount. The highest bidder wins the domain, and all unsuccessful bidders receive a refund minus a 0.5% fee.
Finalizing the Auction
The winning bidder finalizes the auction by submitting the winning amount. The smart contract automatically refunds the difference between the winning bid and the second-highest bid. Subsequently, the winner gains control of the .eth domain.
Resolving the Address
The final step involves linking your new .eth domain to your Ethereum wallet address. This process ensures that any cryptocurrency sent to your .eth alias arrives securely in your wallet.
Step-by-Step Guide to Registering Your .eth Domain
Follow this detailed walkthrough to acquire and configure your .eth domain successfully.
Step 1: Set Up an Ethereum Wallet
Your .eth domain must be associated with a cryptocurrency wallet. If you don't have one, create a new wallet using a trusted platform. During setup, securely store your private key and Keystore file, as they are essential for accessing your wallet and managing your domain.
Step 2: Bid on Your Chosen Domain
Navigate to the ENS portal accessible through most Ethereum wallet interfaces. Search for your desired domain—currently, only names with seven or more characters are available. Once you confirm availability, submit your bid by specifying:
- Actual Bid Amount: The maximum ETH you're willing to pay.
- Bid Mask: A visible amount equal to or greater than your actual bid.
- Secret Phrase: A unique password to secure your transaction.
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Step 3: Verify Auction Status
After bidding, verify that the auction started correctly by checking the domain's status on a blockchain explorer. Look for "Open for Bidding" status, which should appear within five minutes of your bid. Monitor the countdown to track the auction's progress.
Step 4: Reveal Your Bid
Once the auction ends, reveal your bid within 48 hours using the same platform you used for bidding. Enter your secret phrase and bid details to proceed. Successful revelation makes your offer public and eligible for winning.
Step 5: Confirm Reveal Transaction
Double-check that your reveal transaction was processed by verifying the domain's status on the blockchain explorer. It should now indicate "Reveal Stage" with a countdown until the stage concludes.
Step 6: Finalize the Auction
If you win, finalize the auction by confirming the transaction through your wallet interface. This step transfers ownership of the domain to you and triggers the refund process for any difference in bidding amounts.
Step 7: Configure the Resolver
Assign your .eth domain to your wallet address by accessing the resolver settings. Paste your wallet's public key into the resolver field and confirm the transaction. This links your domain to your wallet.
Step 8: Set the Address
Complete the process by finalizing the address configuration. Enter your wallet's public key in the appropriate field and submit the transaction. Within minutes, your .eth domain will be active and ready to use.
Testing Your New .eth Domain
After configuration, test your domain by sending a small amount of cryptocurrency to it. Confirm that the funds arrive in your wallet to ensure everything is working correctly.
Frequently Asked Questions
What is the minimum length for a .eth domain?
Currently, .eth domains must be at least seven characters long. This restriction may change in the future, so monitor official ENS announcements for updates.
Can I transfer my .eth domain to another wallet?
Yes, you can reassign your .eth domain to a different wallet address after registration. This process involves updating the resolver settings through your wallet interface.
What happens if I forget to reveal my bid?
Failing to reveal your bid within 48 hours after the auction ends results in the loss of your bid amount. The domain becomes available for others to bid on in future auctions.
Are there ongoing costs for maintaining a .eth domain?
Apart from the initial auction bid, there are no recurring fees for owning a .eth domain. However, network transaction fees (gas fees) apply for registration and configuration steps.
Can I use my .eth domain for websites?
While .eth domains primarily function as cryptocurrency payment aliases, some services support integrating them with decentralized websites. This requires additional setup beyond address resolution.
How do I avoid missing new .eth auctions?
Follow official ENS social media channels or dedicated auction bots that announce new auctions automatically. This helps you stay informed about available domains.