Ethereum Name Service: How to get your own .eth domain name as demand drives ENS token price surge
By Peter Henn
09:52, 7 October 2022
People who want to make it easier to access their cryptocurrency wallets – or, at least, make it easier to remember their crypto wallet’s address – can use the Ethereum Name Service (ENS) protocol. This scheme allows people to pay for an easy to remember wallet address, much like the conventional DNS address that you find on websites, rather than the long and rather random collection of letters and numbers that make up most crypto wallet addresses.
Since it came out in late 2021, more than 573,000 people, using 2.62 million domain names, have signed up to make use of the system. There appears to have been something of an increased uptake recently, with the platform’s native ENS token’s price rising by around 20% over the course of the past four days or so.
Users of the system can have an address with a .eth suffix, or can even get one with a .net or .com ending.
How to get a .eth wallet address with Ethereum Name Service
Anyway, how do you get hold of a wallet address courtesy of Ethereum Name Service? Let’s explain.
Firstly, you will need to load your crypto wallet with a small amount of ether (ETH). Then, you head to the Ethereum Name Service website and search for the domain name you want to use for your wallet. Then, you connect your wallet. So long as the domain name is available, you can then pay your fee in ETH.
There are two transactions, designed to ensure that every goes ahead smoothly. Once the first transaction goes through, then there is a one minute wait, designed to ensure that another person has not tried to register the same name.
Once that is done, you have to wait for the second transaction to go through, which may take up to seven days, and then you are set to use your new wallet name in order to send and receive money.
There is an annual charge for the service, with three-digit names costing $640 worth of ETH, four-digit names costing $160 worth of ETH, and names with five or more digits costing $5 worth of ETH.
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